Corporate news announcement processed and transmitted by Hugin ASA.
The issuer is solely responsible for the content of this
announcement.
----------------------------------------------------------------------
--------------
Corporate news announcement processed and transmitted by Hugin ASA.
The issuer is solely responsible for the content of this
announcement.
----------------------------------------------------------------------
--------------
Record result - revenues and profit high at Optics. Semiconductors
reporting clear improvement in profitability.
Horgen, March 7, 2007 - The accounts for 2007 show that orders
received by the Group increased 3% to CHF 491.9 million (2006: 477.0
million). Revenues grew 6% to CHF 487.6 million (2006: 461.0
million). Satisloh lifted revenues by a further 11% to CHF 270.0
million. SSM Textile Machinery recorded a slight increase of 2%,
while Ismeca Semiconductor posted a minor decline of 3%. Satisloh
accounts for 55% of Group revenues.
The Group reported an exceptionally high 49% increase in its
operating result (EBIT) to CHF 55.6 million (2006: 37.3 million).
Satisloh generated some three quarters of this figure. Ismeca
Semiconductor achieved a significant improvement in profitability,
above all in the second half, contributing around 10% to the Group's
operating result.
This produced a net income of CHF 49.7 million (2006: 33.4 million),
representing an increase of almost 50%.
The Group posted year-end liquidity of CHF 134 million. Deduction of
interest-bearing liabilities produced a net cash position of CHF 120
million. The equity ratio stood at 63%.
Schweiter Technologies is holding its annual results press conference
today at the Hotel Marriott, Neumühlequai 42, in Zurich, beginning
11.00 a.m.
Key figures
Total Total Change
Schweiter Technologies Group (in CHF
millions) 2007 2006
Orders received 491.9 477.0 +3%
Gross revenues 487.6 461.0 +6%
Operating result 55.6 37.3 +49%
as % of gross revenues 11.4% 8.1%
Net income 49.7 33.4 +49%
Segment information by division (in CHF
millions)
SSM Textile Machinery
Orders received 107.2 108.4 - 1%
Gross revenues 106.9 104.8 + 2%
Operating result 11.0 12.4 -11%
as % of gross revenues 10.3% 11.8%
Satisloh
Orders received 273.1 254.0 + 8%
Gross revenues 270.0 242.3 +11%
Operating result 42.4 26.0 +63%
as % of gross revenues 15.7% 10.7%
Ismeca Semiconductor
Orders received 111.6 114.6 - 3%
Gross revenues 110.3 113.5 - 3%
Operating result 5.2 -0.2 -
as % of gross revenues 4.7% -
SSM Textile Machinery
Revenues remained stable at a high level at SSM Textile Machinery.
Turkey and the Indian subcontinent again reported healthy order
books, China produced a stable performance. However, the strong
export focus of customers in India meant they suffered considerably
under the firming of the Indian rupee against the US dollar, which in
turn put pressure on revenues and margins. The dyeing spool and
rewinding segment posted the strongest revenues. The air texturing
and monofilament segments continued to turn in an encouraging
performance.
A higher R&D spend on product innovations presented at the ITMA
impacted the result above all in the second half, translating into a
lower full-year EBIT compared with the previous year.
Satisloh
An EBIT of over CHF 42 million was generated on revenues of CHF 270
million. This corresponds to 11% growth and a 63% increase in EBIT
(EBIT margin: 15.7%). The "coating" and "consumables" business
segments recorded considerable growth of +39% and +11% respectively.
The strong growth seen in the US market continued (+23%). Asia also
reported an increase (+19%), while Europe maintained the high
year-back volume. In the surface processing segment, the trend toward
direct surfacing technology that started in 2005 progressed at a
stronger pace. Traditional processing machines are witnessing a
decrease of approximately 10% p.a., whereas new production methods
are growing at around 15-20% p.a.
Ismeca Semiconductor
Ismeca Semiconductor held revenues at the high year-back level. The
division defended its strong position in the back end, in particular
in the segment for discretes and simple chips (S0), where higher
process speeds are called for. Ismeca improved its share in the LED
and lead-less chip markets. In the second half in particular, the
relocation of production to Asia was reflected in a significant
improvement in profitability (EBIT margin: 8.3%). Half of all
machines were produced in Malaysia in 2007. Depreciation of old
stocks and remnants of duplication prevented an even better
result.
Outlook
All divisions began the new year with solid order books. The general
uncertainty about the course of the global economy has, to date, not
visibly weakened the Group's performance.
As part of ongoing efforts to concentrate business activities, plans
are in place to close SSM Textile Machinery's Wuppertal site in
Germany, subject to the approval of the relevant employee committee.
The Wuppertal operations are to be integrated fully into the Horgen
site. Closure costs will impact the SSM Textile Machinery division's
result for 2008 in an amount in the low single-digit million range.
Please find the Annual results for 2007 in the PDF attached.
Schweiter Technologies AG, Neugasse 10, CH - 8812 Horgen, Switzerland
Tel. +41 44 718 33 11 Fax +41 44 718 34 51 info@schweiter.com
www.schweiter.com
--- End of Message ---
Schweiter Technologies
Neugasse 10 Horgen Switzerland
WKN: 879123;
ISIN: CH0010754924; Index: SPI, SPIEX, SSCI;
;
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.