Schaffner Group on track after first nine months of fiscal 2006/2007
Luterbach (ots)
Solid growth with EMC and power quality solutions
The Schaffner Group, which specializes in the development, production and marketing of components for electromagnetic compatibility (EMC) and power quality, increased net sales in continuing operations for the first nine months of fiscal 2006/2007 by 24.0% to CHF 125.6 million (9-months 2005/2006: CHF 101.3 million). Adjusted for currency effects, this represents an increase of 20.9%. Order intake grew by 26.1% to CHF 135.3 million (CHF 107.3 million), corresponding to a book-to-bill ratio of 1.08 (1.06). Including Test Systems, which were discontinued fully at the end of April 2007, the Schaffner Group posted net sales of CHF 141.4 million (CHF 136.3 million) for the first nine months of fiscal 2006/2007, while order intake amounted to CHF 149.1 million (CHF 145.4 million). For the full year 2006/2007 (to September 30), Schaffner's management expects the robust sales trend to continue and is looking to maintain its target EBIT margin of around 6%.
In the first nine months of fiscal 2006/2007, the Schaffner Group achieved 5.9% organic growth in sales in continuing operations and a 5.3% increase in orders for EMC products. The growth was largely attributable to encouraging market share gains in Asia and strong demand in Europe. In the eight months since its integration into the Schaffner Group, Schaffner Jacke GmbH, which specializes in power quality solutions, contributed CHF 18.3 million to Group sales and CHF 22.3 million to Group order intake, thus generating a year-over-year increase in comparable sales of around 50%.
A significant boost to growth for both EMC and power quality solutions came from the renewable energy sector (wind, photovoltaics); in addition, the demand for solutions for deployment in energy-saving electronic motor controls also increased. These application areas in which sustained growth is also expected in the future, have already contributed more than a quarter to the Group's overall business in the first nine months of fiscal 2006/2007. Following the rapid, worldwide expansion of capacity for power quality production, Schaffner is well placed to participate in this growth over the long term.
Compared with the same quarter of the previous year, the Schaffner Group increased net sales in continuing operations by 34.4% to CHF 46.5 million in the third quarter of 2006/2007 (3rd quarter 2005/2006: CHF 34.6 million). Order intake rose by 21.5% to CHF 42.8 million (CHF 35.2 million).
With the arrival of Ah Bee Goh as Vice President Manufacturing and the appointments of Jean-Michel Calleri as Vice President Sales Europe and Christian Stampfer as Vice President Marketing - both longstanding managers at Schaffner - the reorganization of the management structure, as part of the formation of a functional Management, was completed on July 1, 2007.
Outlook
With price adjustments resulting from higher material prices having been successfully passed on to the market and cost-cutting measures beginning to take effect, Schaffner's management is looking to maintain its target EBIT margin of around 6% for fiscal 2006/2007.
Calendar
November 2, 2007 Publication of fourth quarter 2006/2007 net sales
and order intake
December 6, 2007 Publication of Annual Report 2006/2007
January 16, 2008 Annual General Meeting of ShareholdersSchaffner - safety for electronic systems
Schaffner is the international leader in electromagnetic compatibility (EMC) and power quality (PQ), focusing on high-growth sectors such as aerospace, automotive industry, building automation, consumer goods, industrial electronics, medical technology, power supplies, renewable energy, transportation and telecommunications. Schaffner develops, produces, and markets standard and customer-specific components and modules. Schaffner continually strives to secure and expand its leading position through a program of innovation, customer-focused logistics, cost-efficient practices and a constant drive for quality. ??
This media information including the key figures can be downloaded as PDF from: http://www.newsbox.ch/public/12148/att/13441_sahnmiqe.pdf
Contact:
Schaffner Holding AG
4542 Luterbach
Alexander Hagemann
Chief Executive Officer
Tel.: +41/32/681'66'06
E-Mail: alexander.hagemann@schaffner.com
Martin Zwyssig
Chief Financial Officer
Tel: +41/32/681'66'08
E-Mail: martin.zwyssig@schaffner.com