Komax Group Facing Market Challenges with Strategic Measures

Komax Group is navigating a challenging market with decreased customer investment and project delays, resulting in a notable revenue decline. Tackling uncertainties, especially in the automotive sector, Komax has reduced costs and focused on structural optimization since late 2023. Slight market improvement is anticipated in the second half of 2024.

With a subdued order intake affecting Europe and Asia, India remains a bright spot. Komax entered 2024 with a strong order backlog of CHF 208.2 million, but orders and revenues fell 20% in the first five months. The Group expects this trend to persist throughout the year.

Despite revenue drops, mainly in volume business, automation-related product orders decline less sharply. These factors lead Komax to forecast a modestly positive EBIT for fiscal 2024. Cost reductions include headcount trimming and production site closures.

Focusing on growth, Komax will acquire a 56% stake in Chinese firm Hosver, enhancing its position in the electric vehicle market. The Group's measures, including the extended short-time working in Swiss sites, aim to emerge stronger from the current phase.