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Mikron Holding AG

EQS-Adhoc: Mikron Holding AG: Mikron records positive EBIT


EQS Group-Ad-hoc: Mikron Holding AG / Key word(s): Final Results
Mikron Holding AG: Mikron records positive EBIT

08.03.2016 / 07:00
Release of an ad hoc announcement pursuant to Art. 53 KR.
The issuer is solely responsible for the content of this announcement.

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Media release on Annual Report 2015

Mikron records positive EBIT

Biel, 8 March 2016, 7.00 a.m. - In 2015 the Mikron Group was able to increase
annual order intake from CHF 244.8 million to CHF 264.6 million. The Group
reported a decrease in annual sales from CHF 249.1 million to CHF 228.6 million
(-8%). Despite the difficult business climate, the Mikron Group recorded
positive EBIT of CHF 2.5 million (prior year: CHF 4.6 million). While the
Automation business segment again achieved a significant improvement in
profitability, the Machining business segment fell well short of the
corresponding figures for the prior year. The Board of Directors will be
proposing to the Annual General Meeting a distribution from reserves from
capital contributions of CHF 0.05 per share (prior year: CHF 0.05 per share).

The Mikron Group reported order intake of CHF 264.6 million in 2015,
representing a sizeable increase over the prior year (CHF 244.8 million, +8%).
In local currencies, the growth amounted to 9%. The low prior-year figure for
the Machining business segment meant that its increase was somewhat more
pronounced than in the Automation business segment. In both segments, the growth
was generated entirely in the second half of the year. Considerable differences
between the individual sites were also evident within each of the two segments.

Net sales and capacity utilization
Adjusted for currency, the Mikron Group's annual sales were only around 1% below
the prior-year level. In actual terms, net sales were down by 8% to CHF 228.6
million in the year under review (prior year: CHF 249.1 million). Both business
segments posted lower figures than in 2014: Mikron Automation CHF 114.9 million
(prior year: CHF 126.8 million, -9%) and Mikron Machining CHF 113.8 million
(prior year: CHF 123.8 million, -8%). The Mikron Group's capacity utilization
rate in the first half of 2015 was generally unsatisfactory, and even critical
at individual sites. It improved considerably in the course of the second half.

Order backlog
At CHF 142.9 million, the Mikron Group's order backlog at the end of 2015 was
22% higher than the corresponding prior-year figure, with orders in hand still
very unevenly distributed over the sites. Some orders relate to financially
attractive longer-term projects which are not scheduled for completion in 2016.

Profitability
In 2015, the Mikron Group reported EBIT of CHF 2.5 million, equating to an EBIT
margin of 1.1%. Oneoff, currency exchange effects at the beginning of the year
had a negative impact of just under CHF 2 million on projects in progress. Even
allowing for this one-off effect, the Mikron Group's profitability is still well
short of the strategic targets. Whereas the EBIT of CHF 4.3 million (prior year:
CHF 2.7 million) posted by the Automation business segment represents a further
significant improvement in profitability, the Machining business segment
suffered another setback, reporting EBIT of -4.3 million (prior year: CHF -0.6
million). This mainly reflects the significant fluctuations in order intake at a
disappointingly low level and the related capacity utilization problems. The
operating result was impacted not only by an uneven distribution of workload,
but also by lower margins and by additional costs during the final phase of
several customer projects. The strong performance by Mikron Machining's tool and
service business was not sufficient to offset these negative factors.

Net earnings
Mikron's net earnings for 2015 were CHF 0.9 million, compared to CHF 2.2 million
in the prior year. The Board of Directors will be proposing to the Annual
General Meeting a distribution from reserves from capital contributions of CHF
0.05 per share (prior year: CHF 0.05 per share).

Outlook
The Mikron Group expects the market environment to stay challenging in 2016. The
Swiss companies' margins will remain under heavy pressure. The Group continues
to anticipate robust demand for automation solutions in Europe and the USA from
the pharmaceutical, medical devices and consumer goods industries. The situation
in the automotive industry is still very uncertain. While this market is
extremely important for Mikron Machining in particular, for the Group as a whole
it is likely to lose in significance compared to the pharmaceutical and medical
devices industries. Mikron is projecting an increase in order intake in Asia
following efforts to strengthen the sales organization. The Group is also
expecting moderate growth in demand for tools. Thanks to a good order intake
level in the fourth quarter of 2015, Mikron is looking to the 2016 financial
year with confidence. The Group is expecting a considerable increase in sales
and an improved EBIT margin, and anticipates a much stronger second half of the
year.

Key figures for the Mikron Group in 2015

                                           2015    2014    +/-
                                                            

CHF million (except number of employees)                    

Order intake                               264.6   244.8   8.1%

- Machining                                120.2   110.9   8.4%

- Automation                               144.9   134.5   7.7%

Net sales                                  228.6   249.1   -8.2%

- Machining                                113.8   123.8   -8.1%

- Automation                               114.9   126.8   -9.4%

Order backlog                              142.9   117.4   21.7%

- Machining                                43.8    46.9    -6.6%

- Automation                               99.5    70.1    41.9%

Number of employees                        1,181   1,162   1.6%

- Machining                                598     560     6.8%

- Automation                               563     582     -3.3%

EBIT                                       2.5     4.6     -45.7%

- Machining                                -4.3    -0.6    n.a.

- Automation                               4.3     2.7     59.3%

Profit for the year                        0.9     2.2     -59.1%

                                           15.5    6.7     131.3%
Operating cash flow

Balance sheet total                        243.9   237.3   2.8%

Equity ratio                               63.4%   65.5%   -0.5%


Publication of annual results for 2015
The annual results will be published at the same time as this media release in
the form of the 2015 Annual Report: www.mikron.com/reports

Brief profile of the Mikron Group
The Mikron Group develops, produces and markets automation and machining systems
that enable extremely precise and productive manufacturing processes. Rooted in
the Swiss culture of innovation, the group is a globally leading partner to
companies in the automotive, medical devices, pharmaceutical, consumer goods,
writing instruments and watchmaking industries. The two divisions, Mikron
Automation and Mikron Machining, are based in Switzerland (Boudry and Agno). The
company has additional production facilities in Germany, Singapore, China and
the US. The 1,200 employees of the Mikron Group can draw on over 100 years of
experience in the production of high-precision systems for large-series product
manufacture. Mikron Holding AG shares are traded on SIX Swiss Exchange (MIKN).

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

Download Media Release
www.mikron.com/news

Investor Relations Calendar of Events
12 April 2016, 04.00 p.m. - Annual General Meeting 2016
26 July 2016, 07.00 a.m. - Media release: Semiannual results 2016

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).



Contact:
Mikron Management AG, Martin Blom, Chief Financial Officer, Phone +41 62 916 69
60, ir.mma@mikron.com
End of ad hoc announcement

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08.03.2016 News transmitted by EQS Schweiz AG. www.eqs.com - news archive:
http://switzerland.eqs.com/de/News

The issuer is responsible for the contents of the release.
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