Electronics Production | March 24, 2010
Komax posts first annual loss in history
Swiss based Komax has posted a year-on-year decline in sales of 38 percent and a loss of CHF -19.8 million for the 2009 financial year.
The last business year proved very difficult for the Komax Group. During the recession of 2009, it was confronted with a massive drop in sales and - for the first time in the company's history - ended the year on a loss. The company is nonetheless expecting to return to profit for the first half of 2010. Annual sales fell by around 38 percent, from CHF 342.7 million (2008) to CHF 211.5 million (2009). Hardest hit was the Wire business unit, with its many automotive industry customers. However, sales in the Solar area, which had been experiencing strong growth, also fell. Only the non-cyclical Medtech business unit recorded good sales growth in 2009.