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2006-03-30 News Headlines
Machining and assembly
systems Mikron operating profit up
The Mikron Technology Group, a global player in machining and assembly
systems for production equipment, closed fiscal 2005 with a significantly
improved operating profit.
Mikron*, a global player in machining and assembly systems (production
equipment), closed fiscal 2005 with a significantly improved operating
profit (EBIT) of CHF 7.6 million. At CHF -24.6 million the net result
for the year was clearly in negative territory, although it was impacted
heavily by the sale of the Plastics
Technology division and the resulting book loss. New orders declined
by a modest 2.2% to CHF 214.9 million. Net sales came to CHF 218.4 million,
a healthy 5.1% increase. At year-end, the equity ratio stood at 67%. The
company's aims for 2006 are a modest increase in volumes and a further
improvement in operating profit (EBIT).
Key target for 2005 achieved
The target set at the beginning of the year was for all business areas
to at least reach operating break even, in the wake of the considerable
operating loss reported in 2004. This target has clearly been met. Operating
profit (EBIT), a key indicator of future performance, rose to CHF 7.6
million on continuing operations (2004: CHF 3.8 million).
Both divisions made a positive contribution.
High expenses, incurred in the final stages of complex projects, reduced
Machining Technology division's contribution to this result. As in the
previous year, Assembly Technology made a solid contribution to operating
profit (EBIT). Careful and cost-conscious project management once again
proved its worth.
Annual result strongly influenced by one-off impacts
Under the dominant impact of changes to the business portfolio and the
realignment of the corporate structure, the Mikron Group 's net earnings
for the year were clearly negative at CHF -24.6 million (2004: CHF 0.5
million). The financial result, with interest income on divestments, had
a positive effect on earnings before tax. On the basis of its improved
earnings
outlook, the company additionally capitalized the tax loss carryforwards
accumulated at the balance sheet date. The sale of the Plastics Technology
division, however, entailed a considerable book loss of CHF 25.4 million.
The result was further impaired by foreignexchange differences, which
had to be recognized in connection with the liquidation of finance companies.
However, these liquidations had no effect on either shareholders' equity
or cash flow.
Order volume meets expectations
At CHF 214.9 million, order intake almost matched the previous year's
high level and can be described as good (-2.2%). Investment activity in
the segment's target markets was generally buoyant.
The Machining Technology division had a good first quarter, with a very
positive trend in demand. The intake of new orders remained at expected
levels for the next six months, before slowing down towards the end of
the year. This levelling-off is attributable to the reorientation of a
customer in the automotive supply chain. Overall, order volume was on
target (+6.1%). The tools business played a major role in the division's
good overall performance, both with its special customer-specific tools
and through increased marketing of its high-performance drilling tools
product line.
The Assembly Technology division posted a healthy volume of orders in
the first quarter.
Significant delays subsequently affected a number of its many projects,
with demand slackening as a result over the next two quarters. Order intake
picked up appreciably in the last few months of 2005, making up a good
deal of lost ground. However, volume for the year as a whole fell short
of expectations (-11.1%). The success of the G05 assembly platform, whose
basic modules are used for the majority of new projects, warrants particular
mention.
Net sales advance further
In a year-on-year comparison, net sales advanced a further 5.1% to CHF
218.4 million. The Machining Technology and Assembly Technology divisions
contributed equally to this figure. Capacity utilization at all sites
was thus maintained at a good level.
Product innovations successfully introduced
Particularly pleasing for the Machining Technology division was the successful
start to business with the new Mikron NRG-50** following its market launch.
The NRG-50 is suited for high precision work pieces up to 50x50x50 mm
or Ø35x70 mm. With this future-proof new development, the division
made a significant technological leap forward. The Assembly Technology
division boosted the success of its G05*** assembly platform by adding
a flexible
feeding unit that uses state-of-the-art technology. A further intelligent
expansion of this assembly platform is planned for 2006.
Mikron seeks further increase in productivity
The Mikron Group started the current business year with a pleasing order
backlog comparable with the prior-year level (CHF 96.7 million). Capacity
utilization is generally good and is further stressed by partially very
short delivery times. The trends dominating the current market environment
are expected to continue: i.e. untiring efforts to lower unit costs combined
with increasing quality requirements. For the Mikron Group this represents
both an opportunity and a challenge. The company's aims for 2006 are a
modest increase in volumes and a further improvement in operating profit
(EBIT).
System solutions for industrial production
Following the sale of the plastic components business in December 2005,
the activities of the Mikron Group now focus on producing customer-specific
solutions for machining and assembly systems. Around 1,000 employees,
80 % of whom are Swiss-based, develop and manufacture capital goods for
industrial production. Key markets are the automotive and medical technology
industries, mainly in Europe.
Further activities:
1) Seropa Technology is a specialized mould-maker mainly serving manufacturers
of plastic components from the medical technology industry and providers
of smart cards.
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Mikron NRG-50 transfer machine.
Click
Go for larger image. Photo: Mikron |
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2) Transfer machine Mikron NRG-50 received industrial design award
The international jury awarded the iF design label to the technologically
trendsetting innovation Mikron NRG-50 by Mikron Machining Technology.
2000 companies from 37 countries competed for the iF seal of fine-quality
design.
The lining of the new transfer machine Mikron NRG-50 was developed by
Mikron in collaboration with Process Product Design in Lucerne. Thanks
to the creative Swiss-German team Mikron has succeeded in perfectly combining
the technical and functional requirements with a unique machine design.
Two technical features of the Mikron NRG-50 are closely related to the
priced product design:
- ATS (Advanced Thermal Stabilization) for highest precision: the exclusive
concept, developed by Mikron engineers, guarantees the all-inclusive regulation
of machine temperature, for highly precise workpiece machining.
- All machining units and spindle-motors are outside of the machining
area. Free from oil and chips, units and spindles ensure high reliability
and increase the user friendliness of the whole machine.
With this award Mikron confirms its leadership in the production of modern
transfer systems.
3) The next report from Mikron Group will be April, 24, 2006 for the Q1
2006 volumes and Annual General Meeting.
Mikron*, NRG-50** and the G05*** assembly platform are registered trademarks
of Mikron Holding AG, Biel (Switzerland).
Read a recent financials press release from Quadrant Group AG; 'Good
business outlook and financial structure remains healthy for Quadrant
with the larger division Plastics accounting for some 80 percent of consolidated
sales.'
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