Mikron Holding AG

EQS-Adhoc: Mikron Holding AG: Strong sales growth by Mikron in the USA

EQS Group-Ad-hoc: Mikron Holding AG / Key word(s): Final Results
Mikron Holding AG: Strong sales growth by Mikron in the USA

09.03.2015 / 07:00
Release of an ad hoc announcement pursuant to Art. 53 KR.
The issuer is solely responsible for the content of this announcement.


Media release on Annual Report 2014

Strong sales growth by Mikron in the USA

Biel, 9 March 2015, 7.00 a.m. - In 2014 the Mikron Group reported a slight
increase in sales overall and was able to hold order intake at the
prior-year level. However, contrary to Mikron's own targets and
expectations, the Group did not succeed in increasing profitability as
well, with EBIT at CHF 4.6 million (prior year: CHF 5.2 million). While the
Automation business segment 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 capital
reserves of CHF 0.05 per share (prior year: CHF 0.10 per share).

The Mikron Group increased its annual sales by 3% to CHF 249.1 million in
the year under review (prior year: CHF 241.1 million). This growth is
attributable solely to the Automation business segment, which enjoyed
healthy capacity utilization levels at the Boudry and Denver locations and
saw a 9% increase in sales to CHF 126.8 million (prior year: CHF 116.8
million). Thanks to the reassuring development of tool and service
activities and despite a disappointing performance in terms of machinery
business, the Machining business segment reported sales of CHF 123.8
million, only marginally below the previous year's level (prior year: CHF
125.2 million). In the year under review, capacity utilization within the
Group was very unevenly distributed and in some cases unsatisfactory. It
proved correspondingly difficult to plan and manage capacity. Europe
remains the dominant geographic market for the Mikron Group, accounting for
53% of all sales. Both business segments profited from the recovery in the
US industrial sector. Overall, the US accounted for 25% of Group sales
(prior year: 12%). Thanks to a shift in orders within the Automation
business segment in the direction of Asia, Mikron increased sales in this
region by 13% to CHF 27.5 million (prior year: CHF 24.3 million).

The Mikron Group reported order intake of CHF 244.8 million in 2014, which
was broadly at the same level as the prior year (CHF 246.4 million). While
the Automation business segment achieved growth of 10%, the Machining
business segment recorded a decrease of 12%. Demand from the medical
devices, pharmaceutical and consumer goods industries in the US generated
an exceptionally high order intake at Mikron Automation.

With EBIT of CHF 4.6 million (1.8% of sales), the Mikron Group largely fell
short of its profitability target. While the Automation business segment
achieved a significant improvement in earnings with EBIT of CHF 2.7 million
(prior year: CHF -4.6 million), the Machining business segment suffered a
severe setback, reporting EBIT of CHF -0.6 million (prior year: CHF 6.2
million). This mainly reflects the significant fluctuations in order intake
at a generally disappointingly low level and the related capacity
utilization problems. The operating result was impacted not only by an
uneven distribution of work, but also by additional costs during the final
phase of several customer projects. The strong performance by Mikron
Machining's tool and service business was, unfortunately, not sufficient to
offset this decrease.

Net earnings
After factoring in the financial results and income taxes, the Mikron
Group's net earnings for 2014 amounted to CHF 2.2 million, showing
virtually no change against the previous year's figure (CHF 2.4 million).
With earnings below expectations, and in view of the new challenges facing
the Group following the decision of the Swiss National bank to abandon the
ceiling on the euro, the Board of Directors will be proposing to the Annual
General Meeting a distribution from capital reserves of CHF 0.05 per share
(prior year: CHF 0.10 per share).

For 2015 the Mikron Group assumes an essentially unchanged difficult, but
relatively stable economic environment. Automotive production is set to
increase globally, and novel eco-friendlier transmission systems will
further stimulate demand for new machining and automation solutions. Mikron
also expects to benefit from the growing need for self-medication and for
precision assembly solutions. However, the positive economic development
projected for the US is offset by continuing major uncertainties in Europe
and parts of Asia. Many customers in these regions are very cautious
regarding their investments. In addition, the removal of the floor against
the euro by the Swiss National Bank creates major new challenges for Swiss
export companies such as the Mikron Group. In response, Mikron has already
introduced numerous measures to secure sales and reduce costs and will
continue to do so. Taking this into consideration, in 2015 the Mikron Group
should be able to achieve a similar level of net sales and EBIT as in the
prior year.

Key figures for the Mikron Group in 2014

                                               2014       2013          +/-

CHF million (except number of employees)
Order intake                                  244.8      246.4        -0.6%
- Machining                                   110.9      125.8       -11.8%
- Automation                                  134.5      121.8        10.4%
Net sales                                     249.1      241.1         3.3%
- Machining                                   123.8      125.2        -1.1%
- Automation                                  126.8      116.8         8.6%
Order backlog                                 117.4      122.4        -4.1%
- Machining                                    46.9       57.6       -18.6%
- Automation                                   70.1       65.1         7.7%
Number of employees                           1,162      1,109         4.8%
- Machining                                     565        534         5.8%
- Automation                                    592        572         3.5%
EBIT                                            4.6        5.2       -11.5%
- Machining                                    -0.6        6.2      -109.7%
- Automation                                    2.7       -4.6       158.7%
Profit for the year                             2.2        2.4        -8.3%

Operating cash flow                             6.7       10.6       -36.8%
Balance sheet total                           237.3      232.1         2.2%
Equity ratio                                  65.5%      66.1%        -0.6%

Publication of annual results for 2014
The annual results will be published at the same time as this media release
in the form of the 2014 Annual Report: www.mikron.com/reports

End of ad hoc announcement


09.03.2015 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.


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 1,200
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).

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

Download Media Release

Investor Relations Calendar of Events
16 April 2015, 04.00 p.m. - Annual General Meeting 2015
23 July 2015, 07.00 a.m. - Media release: Semiannual results 2015

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

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


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