Mikron Holding AG

DGAP-Adhoc: Mikron Holding AG: Mikron increased sales and improved EBIT

Mikron Holding AG  / Key word(s): Half Year Results

19.07.2013 07:00

Release of an ad hoc announcement pursuant to Art. 53 KR
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Mikron Group - Media release: Semiannual results for 2013

Mikron increased sales and improved EBIT

Biel, 19 July 2013, 7.00 a.m. - In the first half of 2013, the Mikron Group
managed to increase sales by 11% to CHF 119.6 million (first half of 2012:
CHF 107.8 million) while improving EBIT by CHF 1.9 million (first half of
2012: CHF 0.5 million) to CHF 2.4 million. The group continues to
anticipate sales for the full 2013 year at a level similar to the previous
year, although the EBIT margin is likely to be lower.

In the first half of 2013, the Mikron Group recorded an order intake of CHF
117.1 million. Although this is higher than in the second half of 2012, it
is also well below the figure recorded in the first half of 2012 (CHF 135.2
million, -13%). The automotive industry and the pharma and medical devices
industries continue to play a dominant role in the business mix with a 35%
and 42% share respectively (first half of 2012: 54% and 15% respectively).
Overall, the Mikron Group increased sales by 11% to CHF 119.6 million in
the first half of 2013 (first half of 2012: CHF 107.8 million). While the
Automation business segment recorded a year-on-year rise in sales of 31%,
the Machining segment posted a fall of 2% - a repercussion of the decline
in the order intake from the third quarter of 2012 onwards.

In view of the uncertain market environment, the two Swiss production sites
of the Machining business segment in Agno exhibited particularly pleasing
profitability. By contrast, substantial additional costs on individual
customer projects led to disappointing results in the Automation business
segment. Management already has responded with various measures. Overall,
the Mikron Group recorded EBIT of CHF 2.4 million in the first half of 2013
(first half of 2012: CHF 0.5 million). This is equivalent to a margin of
2.0% (first half of 2012: 0.5%).

Mikron Automation
The markets of the Automation business segment revealed very different
developments. From a geographic perspective, key market Germany slowed
noticeably, whereas new stimuli were evident in the US and in Asia,
particularly China. Overall, Mikron Automation generated an order intake of
CHF 73.0 million (first half of 2012: CHF 63.6 million), which resulted in
an order backlog of CHF 77.5 million (first half of 2012: CHF 68.3
million). Sales came in at CHF 54.5 million (first half of 2012: CHF 41.5
million). Capacity utilization was accordingly good at all sites. The fact
that the positive sales development is not reflected in earnings is
attributable to various challenging customer projects that involved a
number of new applications. This resulted in significant additional costs.
Moreover, an impairment of CHF 1.5 million of intangibles weighed on
earnings.

Mikron Machining
Despite a significantly lower order backlog and a smaller order intake than
in the first half of 2012, the Machining business segment enjoyed high
capacity utilization in the first half of 2013. Thanks to the increase in
demand from the US in the service and tools business, Mikron Machining was
able to offset a proportion of the missing orders from Germany. Sales to
Asian customers were satisfying overall, even though the demand for
machines from the writing instruments industry was low. Overall, Mikron
Machining generated an order intake of CHF 44.2 million (first half of
2012: CHF 71.7 million) and sales of CHF 65.2 million (first half of 2012:
CHF 66.3 million). The relatively low order backlog at the beginning of the
year has declined further to CHF 30.5 million. This is 55% lower than at
the end of the first half of 2012. All locations of the Machining business
segment enjoyed a satisfactory degree of capacity utilization overall.
However, there have been a number of strong fluctuations and the trend is
downwards. The measures initiated last year to adjust short-term and
medium-term capacity have proved effective and allowed to achieve pleasing
profitability.

Outlook
It remains difficult to predict the development of individual markets in
the second half of the year. This is particularly true of investment
activity in the automotive industry. Promising sales discussions are well
advanced in both business segments. Overall, Mikron is anticipating a
stable economic situation in Europe and slight growth in both the US and
Asia. Where the Automation business segment is concerned, the strong order
backlog leads us to expect higher capacity utilization, stronger sales, and
improved earnings. As a result of the lower order backlog, the Machining
business segment will not be able to build on the strong quarters of the
recent past. However, ongoing negotiations for various projects make Mikron
confident that the order situation will improve in the second half of 2013.
Overall, the Group is anticipating sales for the full 2013 year to match
those of the previous year, with a decline in the EBIT margin.

Key figures for the Mikron Group in the first half year 2013


                                                 1.1.-       1.1.-
                                               30.6.13     30.6.12      +/-
CHF million, except number of employees
and shareholders' equity ratio

Order intake                                     117,1       135,2   -13,4%
- Machining                                       44,2        71,7   -38,4%
- Automation                                      73,0        63,6    14,8%
Net sales                                        119,6       107,8    10,9%
- Machining                                       65,2        66,3    -1,7%
- Automation                                      54,5        41,5    31,3%

Order backlog                                    108,0       136,3   -20,8%
- Machining                                       30,5        68,0   -55,1%
- Automation                                      77,5        68,3    13,5%
EBIT                                               2,4         0,5     380%
Profit                                             1,6         0,6   166,7%
Operating cash flow                                4,5         3,4    32,4%

                                               30.6.13     31.12.12
Number of employees                               1111        1093     1,6%
- Machining                                        527         535    -1,5%
- Automation                                       581         554     4,9%
Balance sheet total                              234,3       231,1     1,4%
Shareholders' equity ratio                       65,0%       66,2%    -1,2%


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Information and Explaination of the Issuer to this News:

Brief profile of the Mikron Group
The Mikron Group markets machining and automation solutions, enabling
customers around the world to master their precision manufacturing
processes. Rooted in a culture of Swiss innovation, Mikron is a leading
supplier to the automotive, medical devices, pharmaceutical, consumer
goods, writing instruments and watch-making industries. The two divisions,
Mikron Automation and Mikron Machining, are based in Boudry and Agno,
Switzerland, with additional production facilities in Germany, Singapore,
China and the United States. The Mikron Group employs approximately 1100
people who work to provide Mikron customers with an experience that
reflects over 100 years of leadership in high-performance and
high-precision production. Mikron Holding AG is listed on SIX Swiss
Exchange (MIKN).

Contact
Mikron Management AG, Martin Blom, Chief Financial Officer
Phone +41 62 916 69 60, ir.mma@mikron.com

Download Media Release
www.mikron.com/news

Publication of semiannual results for 2013
The semiannual results will be published at the same time as this media
release in the form of the 2013 Semiannual Report: www.mikron.com/reports.

Investor Relations Calendar of Events
23 January 2014, 7.00 a.m. - Media release: Preliminary volume figures for
2013
10 March 2014, 7.00 a.m. - Media release: Publication of the 2013 Annual
Report
10 March 2014, 10.00 a.m. -  Results press conference, ConventionPoint,
 SIX Swiss Exchange, Zurich
8 April 2014 - Annual General Meeting 2014, Biel

Except for the historical information contained herein, the statements in
this media release are forward-looking statements that involve risks and
uncertainties.

Mikron(R) is a trademark of Mikron Holding AG, Biel (Switzerland).

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