Komax Group - Preliminary results for 2011

The Komax Group achieved pleasing growth once more in fiscal 2011. New orders totalled CHF 380.4 million (+7%), while revenues rose 9% to around CHF 370 million (2010: CHF 340.2 million). The Group's annual financial statements and Annual Report will be published at the media conference and analysts' presentation to be held on 20 March 2012 in Zurich.

The Wire business unit

Komax Wire enjoyed an excellent year. Growth continued at a high level. Assisted by the reinvigorated automotive industry, the business unit benefitted from demand in a broad spread of geographical regions and from its diversified customer base.


The Solar business unit

Major excess capacity and an accelerating slide in solar module prices pushed the solar industry into decline from mid-year. As a result, solar module manufacturers slipped into the red, some of them even encountering difficulties in making payments. This unfavourable setting resulted in a huge drop in new orders and corresponding fall in revenues at Komax Solar during the second half of the year. However, the business unit benefitted from a good order backlog at the end of the first quarter, and was nevertheless able to increase sales on the previous year.


The Medtech business unit

In 2011 Komax Medtech focused particularly on improving profitability, which it aims to achieve by a more selective approach to choosing projects. After a strong second half, the business unit generated sales that were only slightly below year-back levels despite the challenging economic environment. Its strategy of concentrating more heavily on projects likely to bring repeat business is paying off.