EANS-Adhoc: Mikron Holding AG Mikron achieves further earnings growth
--------------------------------------------------------------------------------
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.
--------------------------------------------------------------------------------
Annual Reports
18.03.2013
--------------------------------------------------------------------------------
This media release can be downloaded as a PDF file: www.mikron.com/news
--------------------------------------------------------------------------------
Media release on Annual Report 2012
Mikron achieves further earnings growth
Biel, 18 March 2013, 7:00 a.m. The Mikron Group has once again increased its
profitability in the 2012 financial year, posting sales of CHF 235.3 million
(previous year: CHF 210.9 million, +12%) and EBIT of CHF 11.2 million (previous
year: CHF 9.4 million, +19%). For the current year, Mikron expects a further
slight improvement in EBIT margin.
In a difficult environment for the Swiss export industry with the Swiss franc
remaining strong and demand for capital goods weakening in the second half of
the year, the Mikron Group achieved further earnings growth. Due to improved
profitability, and as the balance sheet remains very sound, the Board of
Directors will be proposing a distribution of CHF 0.15 per share to the Annual
General Meeting (prior year: CHF 0.12).
Order intake and net sales
Demand for Mikron Group products remained healthy in 2012. Compared to the
previous year, the Mikron Group increased its order intake by 5% to CHF 236.3
million (prior year: CHF 225.0 million). In terms of sales, Mikron posted a 12%
rise to CHF 235.3 million (previous year: CHF 210.9 million). Adjusted for
acquisitions - factoring out sales by Mikron Berlin - Mikron increased its net
sales by 5%. The automotive as well as the pharmaceutical and medical devices
industries are Mikron's key markets, accounting for a total of two-thirds of
sales. Some 80% of orders in 2012 came from European customers, although Mikron
also achieved good results in other regions during the reporting year. For
example, the Automation segment acquired a number of new customers in the USA
with the potential for future orders, and booked a total of 47% more orders
compared with 2011. The Machining segment, which began 2012 with a strong order
backlog, received significantly fewer orders in the second half of the year,
resulting in falling net sales in the fourth quarter, especially in the tools
business.
Profitability
Thanks to a good second half of 2012, the Mikron Group improved the EBIT by 19%
to CHF 11.2 million (prior year: CHF 9.4 million) or 4.8% of sales. While the
Machining business segment once again increased its profitability with an EBIT
margin of 7.4%, operating profit in the Automation business segment remains
unsatisfactory with a loss of CHF -1.6 million. Currency-related competitive
disadvantages, delays and extra costs in some projects, and the insufficient
level of capacity utilization in the first half of 2012 had a distinctly
negative impact on the profitability of the Automation business.
Net earnings and shareholders' equity
Factoring in the financial results and income taxes, Mikron's net earnings for
2012 were CHF 8.5 million (prior year: CHF 7.1 million,+ 20%). The equity ratio
remains very sound at 66%.
Cash flow
The Mikron Group again increased its operational cash flow in 2012, which stood
at CHF 9.8 million. These funds were used during the year under review to
finance infrastructure projects, the modernization of machinery, innovations,
the acquisition of IMA Automation Berlin and the distribution to shareholders.
Even though the company's cash and cash equivalents decreased by CHF 0.6 million
during the reporting year, the Mikron Group is still essentially debt-free.
Outlook
The general economic trend remains uncertain for 2013. Mikron is anticipating
stagnation in Europe together with slight growth in Asia and the USA.
Furthermore, the Group assumes steady demand in the pharmaceutical and medical
devices industries, with a short- to medium-term downturn in the European
automotive segment. Based on the stronger order backlog in the Automation
segment, Mikron expects sales in 2013 to be on a par with 2012, with a slight
improvement in EBIT margin.
Key figures for the Mikron Group in 2012
CHF million
(except number of employees)
2012 2011 +/-
Order intake 236.3 225.0 5%
- Machining 123.6 148.3 -17%
- Automation 113.0 77.1 47%
Net sales 235.3 210.9 12%
- Machining 134.3 123.3 9%
- Automation 101.2 88.1 15%
Order backlog 109.5 95.9 14%
- Machining 51.2 61.7 -17%
- Automation 58.3 34.2 71%
Number of employees 1093 972 12%
- Machining 535 512 5%
- Automation 554 455 22%
EBIT 11.2 9.4 19%
- Machining 9.9 7.1 39%
- Automation -1.6 0.1 n.a.
Profit for the year 8.5 7.1 20%
Operating cash flow 9.8 8.0 23%
Balance sheet total 231.1 219.1 6%
Shareholders' equity 66.2% 67.6% 3%
Publication of annual results for 2012
The annual results will be published at the same time as this media release in
the form of the 2012 Annual Report: www.mikron.com/reports
end of ad-hoc-announcement
================================================================================
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 facilities
in Germany, Singapore, China and the United States. The Mikron Group employs
approximately 1100 people who work to provide Mikron customers with an
experience that reflects over 100 years of leadership in high-performance and
high-precision production.
Investor Relations Calendar of Events
9 April 2013, 4.00 p.m. - Annual General Meeting 2013, Biel
19 July 2013, 7.00 a.m. - Media release: Semiannual results 2013
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
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