Schweiter reports revenue growth in local currencies and 11% EBITDA margin .. The issuer is solely responsible for the content of this announcement.
Horgen, August 19, 2011 - Net revenues amounted to CHF 425.0 million in the first half of 2011 (1H 2010: 465.5 million), which represents 3% growth in local currencies. 3A Composites and Ismeca Semiconductor increased their net revenues in local currency, while SSM Textile Machinery managed to hold net revenues almost on a par with the previous year's gratifying result. Orders received reached CHF 480.3 million (1H 2010: 536.6 million). Expressed in local currencies, the figure was as high as in the previous year.
The Group posted EBITDA of CHF 46.3 million (1H 2010: 48.5 million) and EBIT of CHF 31.5 million (1H 2010: 33.7 million). Net earnings amounted to CHF 20.3 million (1H 2010: 23.6 million). The result includes currency losses of around CHF 9 million. Staff adjustments at 3A Composites led to income of just under CHF 4 million arising from a reduction in the actuarially determined staff pension obligations.
In a positive sector environment, SSM Textile Machinery reported new orders amounting to CHF 40.1 million (1H 2010: 47.2 million), resulting in net revenues of CHF 39.3 million (1H 2010: 42.5 million). After currency translation adjustments, this corresponds to a slight decrease of 2%. All regions - in particular India - reported healthy demand. Despite unfavorable exchange rates, margins were held, thanks in part to consistent efforts to cut costs. The operating result (EBIT) amounted to CHF 5.2 million (1H 2010: 7.2 million), which corresponds to a net profit ratio of approximately 13%. The lower result compared to the first half of 2010 was due to the slight decline in revenues and to upward revaluations of material inventories during the year-back period.
Amid buoyant demand, Ismeca Semiconductor reported new orders of CHF 50.9 million (1H 2010: 73.1 million). Around half of the considerable decrease compared with the previous year's record level is due to currency effects. Revenues amounted to CHF 50.8 million (1H 2010: 50.4 million). As Ismeca invoices practically all its revenues in USD, in local currency this equates to a year-on-year increase of 18%. Despite unfavorable exchange rates, the gross margin was held thanks to Ismeca's technological leadership. An operating result of CHF 4.8 million (1H 2010: 6.0 million) was reported, representing an EBIT margin of just over 10%.
source:reuters
The Group posted EBITDA of CHF 46.3 million (1H 2010: 48.5 million) and EBIT of CHF 31.5 million (1H 2010: 33.7 million). Net earnings amounted to CHF 20.3 million (1H 2010: 23.6 million). The result includes currency losses of around CHF 9 million. Staff adjustments at 3A Composites led to income of just under CHF 4 million arising from a reduction in the actuarially determined staff pension obligations.
In a positive sector environment, SSM Textile Machinery reported new orders amounting to CHF 40.1 million (1H 2010: 47.2 million), resulting in net revenues of CHF 39.3 million (1H 2010: 42.5 million). After currency translation adjustments, this corresponds to a slight decrease of 2%. All regions - in particular India - reported healthy demand. Despite unfavorable exchange rates, margins were held, thanks in part to consistent efforts to cut costs. The operating result (EBIT) amounted to CHF 5.2 million (1H 2010: 7.2 million), which corresponds to a net profit ratio of approximately 13%. The lower result compared to the first half of 2010 was due to the slight decline in revenues and to upward revaluations of material inventories during the year-back period.
Amid buoyant demand, Ismeca Semiconductor reported new orders of CHF 50.9 million (1H 2010: 73.1 million). Around half of the considerable decrease compared with the previous year's record level is due to currency effects. Revenues amounted to CHF 50.8 million (1H 2010: 50.4 million). As Ismeca invoices practically all its revenues in USD, in local currency this equates to a year-on-year increase of 18%. Despite unfavorable exchange rates, the gross margin was held thanks to Ismeca's technological leadership. An operating result of CHF 4.8 million (1H 2010: 6.0 million) was reported, representing an EBIT margin of just over 10%.
source:reuters
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