EANS-Adhoc: Mikron Holding AG
Mikron Group - Media release: Semiannual results
for 2012
20.07.2012 – 07:02
-------------------------------------------------------------------------------- ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- 20.07.2012 -------------------------------------------------------------------------------- This media release can be downloaded as a PDF file: www.mikron.com/news -------------------------------------------------------------------------------- Mikron Group - Media release: Semiannual results for 2012 Good order intake, less profit Biel, 20 July 2012, 7.00 a.m. - In the first half of 2012, the Mikron Group increased order intake and sales, while it suffered from a significant year-on-year decrease in earnings before interest and taxes (EBIT) to CHF 0.5 million. For the Mikron Group, the first half of 2012 was characterized by a number of very different developments. While the Machining business segment increased both sales and earnings to a good overall level as anticipated, the corresponding figures for the Automation business segment fell far short of expectations. Looking ahead to the entire financial year and on the basis of the current good order backlog, Mikron is anticipating an EBIT margin that is slightly superior to 2011. In the first half of 2012, the Mikron Group posted an order intake of CHF 135.2 million (prior year: CHF 127.4 million, +6%). Compared to the corresponding prior-year period, the Group managed to increase sales from CHF 104.2 million to CHF 107.8 million (+3%). While the Machining business segment was able to exploit broad-based demand in Europe and Asia to increase sales by 11%, the Automation business segment fell substantially short of expectations with a decline in sales of around 8%. A combination of currency-related competitive disadvantages, the challenges faced by Mikron Automation in the execution of a number of projects, and an unsatisfactory level of capacity utilization in certain areas have inevitably weighed on the result. By contrast, the segment succeeded in obtaining a gratifying number of major new orders in the second quarter, which will impact positively on sales and earnings in the second half of the year. Earnings before interest and taxes (EBIT) amounted to an unsatisfactory CHF 0.5 million in the first half of 2012 (prior year: CHF 3.9 million). Due to the positive financial result and in consideration of the income taxes, the Mikron Group recorded a profit of CHF 0.6 million (prior year: CHF 2.6 million). Mikron Machining In the first half of 2012, Mikron Machining benefited from continued strong demand, particularly from the German automotive industry. An equally pleasing development for this business segment was the sales generated by the Swiss watchmaking industry. Mikron Machining also continued to benefit from the ongoing industrialization of China, and succeeded in expanding its overall customer base. By contrast - attributable to the industry cycle and therefore not unexpected - this business segment generated significantly lower sales than in prior years with machines for the writing instruments industry. Compared with Mikron Machining's competitors, however, the order volume of CHF 71.7 million stands up very well, and will ensure continuing good capacity utilization at all production sites and in most business areas. Mikron Machining was able to increase both sales and earnings in line with targets. Mikron Automation At the start of the year in particular, Mikron Automation's sales markets were still heavily overshadowed by uncertainty over economic developments. Many customers repeatedly postponed their investment decisions. After a weak first quarter, however, order intake then rebounded strongly in the second quarter, enabling Mikron Automation to report a pleasing order intake of CHF 63.6 million for the first half of the year. This healthy order volume was primarily attributable to demand from suppliers to the German automotive industry. IMA Automation Berlin GmbH (now Mikron Berlin GmbH), the company acquired at the beginning of March, made an important contribution to the increased second-quarter order intake. The insufficient backlog of orders at the start of the year and a general reluctance on the part of customers to place orders led to a first-half sales figure that fell considerably short of expectations. As a result of the low sales volume, high additional expenditures for a number of complex customer projects, and persistent currency-related pressure on margins, the business segment posted a significant operating loss for the first half of 2012. Outlook The general uncertainty caused by the overindebtedness of a number of European countries is likely to affect the second half of 2012 too. Assuming a stable currency situation, Mikron expects a slight flattening of demand throughout the Group as a whole. Mikron expects the good level of capacity utilization at Mikron Machining to continue, while Mikron Automation should experience a significant improvement thanks to the healthy order intake in the second quarter. Overall, therefore, Mikron anticipates a significant improvement in second-half sales and earnings. The Board of Directors and Group Management are adhering to the objective of generating sales of around CHF 240 million (inclusive the acquired company) for the 2012 financial year, along with a slight year-on-year increase in the EBIT margin. Key figures for the Mikron Group in the first half year 2012 CHF million, except number of employees and shareholders' equity 1.1.-30.6.12 1.1.-30.6.11 +/- Order intake 135.2 127.4 6.1% - Machining 71.7 87.4 -18.0% - Automation 63.5 40.3 57.8% Net sales 107.8 104.2 3.5% - Machining 66.3 59.6 11.2% - Automation 41.5 44.9 -7.6% Order backlog 136.3 109.8 24.1% - Machining 68.0 67.5 0.7% - Automation 68.3 42.4 61.1% Number of employees 1,071 938 14.2% - Machining 525 497 5.6% - Automation 542 435 24.6% EBIT 0.5 3.9 -87.2% Profit 0.6 2.6 -76.9% Operating cash flow 3.4 0.8 325.0% Balance sheet total 225.2 219.1 2.8% Shareholders' equity 64.4% 67.7% -2.1% Publication of semiannual results for 2012 The semiannual results will be published at the same time as this media release in the form of the 2012 Semiannual Report: www.mikron.com/reports. end of ad-hoc-announcement ================================================================================ Brief profile of the Mikron Group The Mikron Group is a globally operating, technologically leading supplier of machining and automation solutions for high-volume and high-precision production. Its main markets are the automotive component supply industry, the pharmaceutical and medical devices industries, the writing instrument industry, and the electronics and watchmaking industries. With around 100 years of experience, rooted in Swiss innovation and quality culture, the Mikron Group is a long-term process and technology partner to many industry leaders. The Group employs a workforce of over 1000, the majority of them at its two main sites in Switzerland (Agno and Boudry). Investor Relations Calendar of Events 24 January 2013, 7.00 a.m., Media release: Preliminary volume figures for 2012 18 March 2013, 7.00 a.m., Media release: Publication of the 2012 Annual Report 18 March 2013, 10.00 a.m., Results press conference, ConventionPoint, SIX Swiss Exchange, Zurich 9 April 2013, Annual General Meeting 2013, Biel Except for the historical information contained herein, the statements in this media release are forward-looking statements that involve risks and uncertainties. Mikron® is a trademark of Mikron Holding AG, Biel (Switzerland). Further inquiry note: Mikron Management AG, Martin Blom, Chief Financial Officer Phone +41 62 916 69 60, ir.mma@mikron.com Mikron Management AG, Martin Blom, Chief Financial Officer Phone +41 62 916 69 60, ir.mma@mikron.com Unsubscribe from the newsletter: If you want to unsubscribe from any e-mail communication from Mikron Holding AG, please send an e-mail to: news.mho@mikron.com, subject: REMOVE FROM MAILING LIST end of announcement euro adhoc -------------------------------------------------------------------------------- issuer: Mikron Holding AG Mühlebrücke 2 CH-2502 Biel phone: +41 32 321 72 00 FAX: +41 32 321 72 01 mail: mho@mikron.com WWW: www.mikron.com sector: Machine Manufacturing ISIN: CH0003390066 indexes: SPI, SPIEX, SPI ex SLI stockmarkets: Domestic Standard: SIX Swiss Exchange language: English