Healthy Order Intake, Further Sales Growth, Substantial Rise in Orders in Hand.
In the first nine months of the current financial year, the Mikron Group acquired new orders totalling CHF 171.5 million (+94.2% compared to previous year's low level), while sales rose 8.7% to CHF 124.3 million. Order backlog increased by 100.4% to CHF 94.8 million, achieving a much broader product and geographical spread in the process. Sales mdeveloped in line with expectations and the pick-up in new orders. The healthy growth in sales and an advantageous product mix offset the negative impact of the strong Swiss franc on Mikron's earnings. Looking ahead to its full-year results, the Mikron Group expects to post a small positive EBIT.
The economic environment has improved in recent months for both Mikron Machining and
Mikron Automation, although exchange rates are still causing some uncertainty. A substantial
pick-up in demand has been observed not only in Europe, but above all in Asia and particularly
in China. Customers in the pharmaceutical and medtech industries remain keen to invest.
Mikron Machining
Initial indications that European customers, particularly those in Germany, are becoming more
willing to invest have been confirmed. Order intake and net sales were both significantly above
year-back levels at CHF 94.0 million (+121.7%) and CHF 71.6 million (+44.9%) respectively. At
the same time order backlog rose 70.7% to CHF 41.3 million.
In addition to orders for new customers, Mikron Machining landed various repeat orders,
amongst others from the watch industry. There was also an encouraging rise in project activities
and conclusions from European customers, particularly those in the automotive supply industry.
Demand from China and India remained good, with orders from the writing instruments industry coming from these countries. However, orders were also received from China's automotive
supply industry. Mikron Machining's tool and service business benefited particularly from the
good level of production in the European automotive industry.
Capacity utilization at Mikron Machining's production sites in Agno (Switzerland) and Rottweil
(Germany) is currently high; in certain areas it is even very high. It has therefore been
necessary to expand capacity in some areas by hiring in skilled technical staff.
Mikron Automation
Mikron Automation's third-quarter tendering and project activities were healthy. However, the
strength of the Swiss franc is increasing pressure on margins, most notably at the division's
main site in Boudry (Switzerland).
New orders were substantially up on the previous year and ahead of expectations at CHF 78.3
million (+69.5%), although sales declined 20.1% year-on-year to CHF 53.4 million. However,
these are expected to recover by the end of the year. Order backlog rose substantially by
128.9% to CHF 53.1 million. The good order volumes for high-performance assembly solutions
based on Mikron's G05(TM) platform were enhanced by further orders for automation solutions
based on the newly launched Mikron EcoLine(TM) standard platform. The majority of these orders
were from Asia. It is particularly pleasing that one assembly system of this type is to be supplied
to a new customer in the European automotive supply industry in the next few months.
Capacity utilization at Mikron Automation's main site in Boudry (Switzerland) has normalized
once more, and short-time working has been largely consigned to the past since mid-year. Both
the Denver (USA) and Singapore sites report good and very high capacity utilization
respectively. Capacity in the city state, where the Mikron site is still relatively small, is currently
being maximized in anticipation of a further surge in order volumes in Asia, but also in the
interests of effective quality assurance and risk management.
CHF million 2010 2009 ±
Order intake 171.5 88.3 94.2%
Machining 94.0 42.4 121.7%
Automation 78.3 46.2 69.5%
Net sales 124.3 114.4 8.7%
Machining 71.6 49.4 44.9%
Automation 53.4 66.8 -20.1%
Order backlog 94.8 47.3 100.4%
Machining 41.3 24.2 70.7%
Automation 53.1 23.2 128.9%
Employee headcount 885 983 -10.0%
Machining 461 553 -16.6%
Automation 418 423 -1.2%
Additional information
Mikron Holding AG,
Patrick Brisset,
Coordinator Corporate Communications
Tel. +41 32 843 12 64,
irb.mho@mikron.com
www.mikron.com/media
Investor Relations Calendar of Events
27.01.2011 7.00 a.m. - Media release: Volume figures 2010
11.03.2011 7.00 a.m. - Media release: Annual results 2010
7.00 a.m. - Publication of Annual Report 2010
10.00 a.m. - Annual Media Conference
07.04.2011 4.00 p.m. - Annual General Meeting 2011
22.07.2011 7.00 a.m. - Media release: Semiannual results 2011
7.00 a.m. - Publication of Semiannual Report 2011
Mikron Holding AG
Mühlebrücke 2
CH-2502 Biel
Phone +41 32 321 72 00
Fax +41 32 321 72 01
www.mikron.com
