Komax Group - preliminary results 2010
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Komax Holding AG /
Komax Group - preliminary results 2010
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Successful 2010
The Komax Group achieved pleasing results for the year ended 31 December 2010.
New orders totalled CHF 357.0 million (+62%) and net sales rose by approx. 60%
to approx. CHF 340 million (2009: CHF 208.4 million). For the year as a whole,
the Group's management anticipates a further rise in the EBIT margin compared to
the first half of the year. The healthy order backlog at year-end promises a
good start to the 2011 business year. The Group's annual financial statements
and Annual Report will be published at the annual media conference and analysts'
presentation to be held on 22 March 2011 in Zurich.
The strong recovery which took place over the first six months of 2010 on an
unexpected scale persisted into the second half in the Wire, Solar and Medtech
segments, and the Komax Group was able to substantially increase its net sales
from CHF 208.4 million in 2009 to approx. CHF 340 million in 2010 (+60%).
Management expects the EBIT margin for 2010 as a whole to exceed the margin of
7.8% reported in the first half of the year.
Uneven trend in segment operating results
The Wire segment benefited especially from the recovery in the automotive
industry, with Asia making the largest contribution to its growth. In addition,
the accessories, spare parts and service business also displayed an encouraging
trend. Thanks to the resulting increase in sales and the significant adjustments
made to cost structures back in 2009, the segment was able to substantially
improve its operating margin compared to the previous year.
In the Solar segment, the crystalline and thin-film businesses presented
contrasting pictures. While demand in the crystalline sector grew healthily, it
remained weak in the thin-film business. Komax responded to this development by
reducing capacities at its Rotkreuz site and relocating these activities to York
(USA), where the Group had established a new plant in 2009. The operating result
in the Solar segment remained negative overall, depressed by the thin-film
business and the associated costs for restructuring measures. However, the
crystalline business, which constitutes Komax Solar's core activity, generated a
clear positive result in 2010.
In the Medtech segment, a positive sales trend was mainly driven by business
with key customers from Asia. However, additional costs associated with
individual projects, the as yet still relatively low share of repeat orders, and
reorganization costs negatively affected the operating result.
Outlook
The high expected level of new orders for the second half of 2010 resulted in an
annual order intake figure of CHF 357.0 million (+62%). In light of the healthy
order backlog at the end of the year, management anticipates a good start to the
2011 business year.
For more information, please contact:
Marco Knuchel Tel. +41 41 455 06 16
Head Investor Relations & Corporate Communications Fax +41 41 450 10 24
www.komaxgroup.com marco.knuchel(at)komaxgroup.com
The media release can be downloaded from the following link:
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Komax Holding AG
Industriestrasse 6 Dierikon-LU Switzerland
WKN: 1070215 ;ISIN: CH0010702154;
Media release (PDF):
http://hugin.info/100418/R/1480377/415931.pdf
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Source: Komax Holding AG via Thomson Reuters ONE
[HUG#1480377]
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Datum: 18.01.2011 - 07:01 Uhr
Sprache: Deutsch
News-ID 50517
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contact information:
Town:
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