Preliminary 2012 financial figures from Komax group

Order intake totaled at EUR 232.9 million, compared with EUR 307.7 million during 2011, while revenues came to around EUR 230.5 million compared with EUR 300.4 million in 2011. Komax Wire followed on from 2011’s good results with an excellent year. At EUR 186.9 million (EUR 173.2 million after adjustment for acquisitions), order intake remained at a high level (2011: EUR 187.9 million). The business unit profited materially from the automotive industry, which remains in good shape in many areas. Furthermore, the acquisitions made during the year proved successful. The integration of TSK Group and MCM Cosmic KK into Komax Wire is proceeding on schedule. In view of the brisk business experienced in the fourth quarter of 2012 and at the start of 2013, Komax Wire expects the new year to get off to a good start. In 2012, Komax Solar was unable to escape the severe crisis that has hit the solar industry. The market for solar module manufacturing equipment slumped by about 90% compared to the previous year. As a result, Komax Solar’s order intake was modest EUR 7.2 million (2011: EUR 51,5 million). In view of this development and the lack of any signs of a rapid recovery, the business unit took measures during the year to adapt its structures to demand. As a result, headcount fell by more than 50% during 2012. The staffing reductions primarily affected the sites in York (PA), USA, and other locations outside Switzerland. 2012 proved to be a very challenging year for Komax Medtech, marked by ongoing uncertainty about economic development in Europe. As result of this uncertainty, investment decisions on the procurement of new systems were delayed. Order intake consequently collapsed, totaling just EUR 38.6 million (2011: EUR 68.2 million). The business unit’s centre of excellence at La Chaux-de-Fonds was hardest hit and was obliged to introduce short-time working for its entire workforce in June. This move had the effect of safeguarding the expertise available within the company. Short-time working was lifted in December after an increasing number of expected orders arrived towards the end of the fourth quarter and prospects improved. Furthermore, Komax has signed a memorandum of understanding with Doerfer Companies covering strategic collaboration in the medtech sector. Doerfer Companies is an American manufacturer of automation solutions and operates primarily in the US and Asia.