Results for the first half of 2009
(Thomson Reuters ONE) - Corporate news announcement processed and transmitted by Hugin AS.The issuer is solely responsible for the content of this announcement. ------------------------------------------------------------------------------------ Horgen, August 7, 2009 - Orders received reached CHF 33.4 million(-63%) in the first half. Gross revenues amounted to CHF 30.1 million(-67%). The drastic decline in volume reflects the general globaleconomic crisis and the unfavorable industry climate in particular.The Group reported an operating result of CHF -13.7 m (1H 2008: 0.4million). The net loss from continuing operations amounted to CHF-10.5 million (1H 2008: 1.5 million). This includes currency gains ofaround CHF 2.5 million. Lower net current assets led to a balancedcash flow from operating activity.In an extremely difficult sector environment, SSM Textile Machinery'sorder intake was 74% lower than the previous year. Sales declined by71%. All regions reported a substantial drop in demand. Despite ahistorically low volume, the gross margin was maintained. Rigorouscost management cut fixed costs considerably, enabling the loss to becontained. The operating loss amounted to CHF 5.7 million.Ismeca Semiconductor was also hit hard by the economic slump. Neworders fell by almost 50%. Sales were 63% lower than in the previousyear. Strict cost management was unable to compensate for the missingvolume. The operating result stood at CHF -7.1 million. Currencygains led to a positive financial result, which cut the net loss byalmost CHF 2 million.OutlookThe first half ended with historical lows, especially in volumes.Although the business environment is likely to remain demanding inthe second half, a positive trend in incoming orders, customers' moreoptimistic assessment of the future and a backlog in investments allindicate a considerably better second half.Innovations are being pushed in both divisions. This not only enablesmarket positions to be secured - it also creates a good basis for thecompany to reap above-average benefits from the next upturn.Cash and cash equivalents and treasury shares worth over CHF 600million, plus a debt-free balance sheet, are available foracquisition projects - some of which have already reached an advancedstage.Please find the Results for H1 2009 in the PDF attached.Schweiter Technologies AG, Neugasse 10, CH - 8812 Horgen, SwitzerlandTel. +41 44 718 33 03 Fax +41 44 718 34 51 info(at)schweiter.comwww.schweiter.comhttp://hugin.info/100347/R/1333242/315973.pdf --- End of Message ---Schweiter TechnologiesNeugasse 10 Horgen SwitzerlandWKN: 879123; ISIN: CH0010754924; Index: SPI, SPIEX, SSCI;;
Datum: 07.08.2009 - 06:00 Uhr
Sprache: Deutsch
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