EANS-Adhoc: Mikron Holding AG Mikron Group - Media release: Semiannual results
for 2012
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20.07.2012
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This media release can be downloaded as a PDF file: www.mikron.com/news
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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
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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
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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