Komax Group - preliminary results for 2009
(Thomson Reuters ONE) - Komax Holding AG / Komax Group - preliminary results for 2009 processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement. Considerable drop in sales in crisis yearThe last business year has proven very difficult for the Komax Group. The Groupsuffered a drop in sales of around 40% and - for the first time in its history -a negative operating result.In 2009, sales of the Komax Group fell by around 40% from CHF 342 million (2008annual sales) to CHF 210 million. The Wire business unit was hit hardest. Themajority of the customers in this segment are in the automotive industry.However, sales in the Solar area, which had been experiencing strong growth,also fell. Only the Medtech business unit developed well in 2009, achievinggrowth.Nevertheless, business picked up again substantially in the second half of 2009and both Wire and Solar have bottomed out. New orders received by the KomaxGroup in the second half of 2009 were up by 70% on the very low first-halffigure. In total, annual order intake fell from CHF 380 million in 2008 to CHF220 million in 2009.For the first time in its history, the Komax Group anticipates a negativeoperating result. Nevertheless, the operating result for the fourth quarter of2009 was positive.Wire Processing hit hardAmong other activities, the Komax Group produces wire processing machines(crimping machines, for instance) and harness machines. The end markets for itswire processing systems are the automotive industry, the household appliancesmarket and electronics market. In the first half of 2009, automotive customersin particular cut right back on capital expenditure. Later on in the year, thesituation improved somewhat. During the year as a whole, machines for thehousehold appliances and electronics markets were generally affected less by thedownturn.Varying developments in SolarFor the solar industry, Komax produces machines for manufacturing solar modules,which are strategically important both in the crystalline and thin-film area.Thanks to a wide range of innovations, the Komax Solar business unit performedbetter in the second half of the year. However, this did not apply to thesmaller thin-film area, which accounts for around 20% of Komax's solar sales.The Group made anti-cyclical investments in this subsegment in 2009 and broughtnew products to market at great development expense. However, as the market isstill slow, capacity now has to be adjusted to suit the changed environment. Thecompany plans to cut around another 30 jobs.Medtech robustIn the area of medical technology, Komax produces machines and systems forassembling insulin delivery systems, inhalers and syringes. Business in thisarea remained strong throughout the entire year. Komax won various new customersin this segment and has established itself as one of the major Europeansuppliers on the market.OutlookKomax's major markets appear to be stabilizing. If this recovery continues, theGroup anticipates growth again in 2010. The order situation has improved in theWire business unit, short-term working is set to end, crystalline solar isdeveloping well thanks to innovative products, and the Medtech business unit hasstarted off the new year with a high level of orders in hand.Background information on the Komax GroupKomax is world leader in the wire processing market (crimp-to-crimp machines),with a market share of around 40%. In addition to this, the Komax portfolio ofproducts and services ranges from wire cutting and stripping machines all theway to systems for the fully automated manufacture of complete wire harnesses.In the photovoltaics field, Komax is a worldwide supplier of machines forproducing crystalline and thin-film modules. Its aim is to expand its globalleadership in stringing to the other areas of its product portfolio.In the medical technology sector, Komax produces, for example, machine systemsfor manufacturing inhalers and insulin delivery or injection systems. In thisfield, too, Komax is among the world's leading suppliers.The Komax Group operates production facilities in Switzerland, France, theUnited States, Malaysia and China. Finally, Komax offers professional serviceback-up in over 50 countries.A detailed explanation of the financial statements will be given at the MediaConference and Analysts' Presentation on Tuesday, 24 March 2010, 10.00 a.m., atthe SIX Swiss Exchange - ConventionPoint, Zurich._________________________________________________________________Contact: Komax Holding AG Direct dial +41 41 455 06 16 Dominik Slappnig, Investor & Public Fax +41 41 450 10 24 Relations w dominik.slappnig(at)komaxgroup.com
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Datum: 19.01.2010 - 01:16 Uhr
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