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July 22, 2005
Machining, Equipment
and Plastics Segments Improve Profit
Seattle, WA, USA--(Jobwerx News)--Mikron Group technologies in machining,
plastics and production equipment reports a significant improvement in
operating profit.
The Mikron Group, a global player in machining and assembly systems and
in component production, reported a significant improvement in operating
profit (EBIT), which was CHF 9.3 million higher than the previous year.
All three divisions contributed to this gratifying performance. With EBIT
of CHF 1.9 million, the Mikron Group succeeded in lifting itself out of
operating loss zone. The Group's net earnings of CHF 2.0 million marked
a significant improvement of CHF 12.5 million over the previous year.
For the 2005 business year, the Mikron Group expects to break even in
operating terms (EBIT).
Order and sales volume in line with expectations
Mikron started the year with a good order book situation, and capacity
utilization in all units was at a very good level in the first six months.
Order intake reached a respectable level and was only 5% below the previous
year's volume. In the previous year, it should be noted, all divisions
of the Production Equipment segment benefited from pent-up demand for
investment in industrial goods.
Net sales were a good 11% higher than in the previous year, The Production
Equipment segment accounted for the bulk of this improvement. All divisions
beat the previous year's levels. Owing to the long project lead times
in the industrial goods sector, sales volume was driven mainly by orders
from the second half of 2004.
In the Components segment, the Plastics Technology division develops and
manufactures plastic components and assemblies.
The Production Equipment segment divisions are focused on manufacturing
of Machining Technology and Assembly Technology systems.
EBIT and net earnings take a step forward
Operating profit (EBIT) improved by CHF 9.3 million. As a result, the
Mikron Group succeeded in lifting itself out of operating loss zone. All
three divisions contributed to this achievement. The reduction of the
previous year's loss in the Components segment had the biggest impact
on profitability. The measures taken to improve short-term operational
performance proceeded according to plan and had a positive impact.
Net earnings at the end of the first half of 2005 were a significant
CHF 12.5 million better than in the previous year.
Mikron expects operating profit (EBIT) to break even in 2005
For the second half of the year, the volume of new orders is shaping
up satisfactorily, though it is not likely to match the level reached
in the first half. Capacity utilization is expected to be good. For 2005
the Mikron Group still anticipates breaking even at the operating level
(EBIT).
Mikron previously divested itself of stakes in two business units, the
BaldaMikron joint venture and the Axxicon Mould Technology Division, earlier
this year.
Innovation process re-established
A key factor in future success is the product innovation process, which
has been re-established throughout the Mikron Group. The Assembly Technology
division has recently started to offer low-cost and even more flexible
solutions for automatic assembly. As a further tangible result, the Machining
Technology division will unveil a completely new machining system in September.
The three Divisions consist of:
. Machining Technology - Solutions and Systems for machining metal parts.
Special tools and small drills for metal machining.
. Assembly Technology - Solutions and Systems for component assembly.
. Plastics Technology - Development and production of plastic parts and
assemblies. (Seropa Technology: tool and mold making for the production
of plastic parts.)
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