1.0Market Snapshot
- 9,635
- Building-construction and civil-engineering firms in 2024 (BFS STATENT: 8,712 building-construction firms, NOGA 41.20, and 923 civil-engineering firms, NOGA 42). Finishing and installation trades are counted separately.
- 106,334
- Employees in building construction (85,633) and civil engineering (20,701) in 2024 (BFS STATENT), 98,803 full-time equivalents. Civil-engineering firms average 22 employees, building firms about ten.
- −0.6%
- Change in employees from 2020 (107,001) to 2024 (106,334), BFS STATENT; employment has been flat since 2011 (107,205). The number of firms rose 8.4% since 2020, so the average firm is getting smaller.
According to Val Index analysis of Swiss commercial-register and federal data (2026), Switzerland counts 9,635 construction & building companies — Building-construction and civil-engineering firms in 2024 (BFS STATENT: 8,712 building-construction firms, NOGA 41.20, and 923 civil-engineering firms, NOGA 42). Finishing and installation trades are counted separately..
2.0Industry Overview
Main contractors build Switzerland's houses, offices, roads, railways and tunnels. In 2024 BFS counted 9,635 building-construction and civil-engineering firms with 106,334 employees (STATENT): 8,712 building firms with 85,633 employees and 923 civil-engineering firms with 20,701. Employment has been flat for more than a decade (107,205 in 2011, 107,001 in 2020), while the number of firms rose 8.4% since 2020, so the average firm has shrunk from 12 to 11 employees. Civil engineering remains the domain of larger firms, with 22 employees on average.
3.0Industry Health Check (SWOT)
- Growing public investment in buildings and infrastructure
- Thin margins (Implenia 4.0% EBIT in 2025)→ §5.0
- Housing shortage and densification
- Falling private civil-engineering spending (−5.7% in 2025)
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Construction & Building business valuation in Switzerland
- Statutory Multiple (EBITDA)
- 3.0 - 5.0×
- Deal Multiple (EBITDA)
- 4.5 - 7.0×
- Market Trend
- Stable
Indicative ranges based on market research. Actual multiples vary by company size, growth, and market conditions.
8.0Regional Clusters
Western Switzerland
2,849 building and civil-engineering firms with 24,587 employees in 2024 (BFS STATENT), the most of any region, with smaller firms (8.6 employees on average).
Eastern Switzerland
1,467 firms with 17,431 employees; HRS is registered in Frauenfeld.
Zurich
1,173 firms with 18,523 employees, the largest on average (15.8 per firm); Implenia is registered in Opfikon.
Bern and Solothurn
1,140 firms with 14,516 employees; Marti (Moosseedorf), Losinger Marazzi (Bern) and Frutiger (Thun) are registered in the canton of Bern.
Central Switzerland
1,048 firms with 12,814 employees.
Northwestern Switzerland
1,012 firms with 11,598 employees.
Ticino
839 firms with 6,773 employees, the smallest on average (8.1 per firm).
Sources
9.0Frequently Asked Questions
▶How much is a construction company worth in Switzerland?
ValIndex's multiples table puts Swiss construction at 4.5–7.0× EBITDA in transactions and 3.0–5.0× EBITDA on statutory valuations. Firms with a strong order book, public framework contracts and specialist civil-engineering capability sit at the upper end; small builders that depend on the owner sit lower.
▶What drives the value of a Swiss construction firm?
Buyers price: (1) the order book and its margins; (2) qualified foremen and site managers; (3) machinery and its age; (4) the client mix between public and private; (5) exposure to fixed-price project risk; (6) dependence on the owner.
▶How big is the Swiss construction sector?
In 2024 BFS counted 9,635 building-construction and civil-engineering firms with 106,334 employees (98,803 full-time equivalents): 8,712 building firms with 85,633 employees and 923 civil-engineering firms with 20,701. Finishing and installation trades are counted separately.
▶Who are the main construction companies in Switzerland?
Implenia (Opfikon) is the largest listed builder, with CHF 3,475 million revenue in 2025. Other large groups include Marti (Moosseedorf), Losinger Marazzi (Bern, Bouygues Construction), Frutiger (Thun) and HRS (Frauenfeld).
▶What are the key trends in Swiss construction?
Five trends: (1) construction investment up 3.5% in 2025; (2) fuller order books; (3) flat employment with more, smaller firms; (4) large public projects; (5) regional consolidation.
▶What are the main risks when buying a Swiss construction company?
The main risks are: (1) cost overruns and claims on fixed-price contracts; (2) loss of key foremen; (3) a thin or low-margin order book; (4) warranty claims; (5) dependence on the owner. Due diligence should check the order book, project calculations, provisions, machinery and staff.
▶Is Swiss construction demand growing?
Yes. Construction investment rose 3.5% in nominal terms in 2025, led by public clients (+8.4% in building, +5.2% in civil engineering), and the backlog at the end of 2025 was 6.0% higher. Private civil-engineering spending fell 5.7%.
▶Where are Swiss construction firms located?
Using BFS figures for 2024: Western Switzerland has the most firms (2,849, with 24,587 employees), followed by Eastern Switzerland (1,467; 17,431), Zurich (1,173; 18,523), Bern and Solothurn (1,140; 14,516), Central Switzerland (1,048; 12,814), Northwestern Switzerland (1,012; 11,598) and Ticino (839; 6,773).