from Mikron Holding AG (isin : CH0003390066)
Mikron Group again significantly improves sales and profitability
Mikron Holding AG / Key word(s): Half Year Results
Mikron Group again significantly improves sales and profitability
20-Jul-2023 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.
Ad hoc announcement pursuant to Art. 53 LR:
At CHF 248.7 million, the Mikron Group's order intake for the first half of 2023 is 11.4% higher than the corresponding figure for the first half of 2022 (CHF 223.3 million). While the Automation business segment increased order intake by 39.9%, the Machining Solutions business segment (Mikron Machining and Mikron Tool divisions) reported an expected decline of 26.0% compared with the first half of 2022, which included large long-term orders.
The Automation division was again able to take advantage of the continuing high demand from the pharmaceutical and medtech sectors. The Mikron Group's net sales rose from CHF 145.9 million in the first half of 2022 to CHF 178.3 million in the first half of 2023 (+22.2%). With a 55% share of net sales, Europe (including Switzerland) remained the Mikron Group’s principal sales market in the first half of 2023. Mikron increased net sales in Europe by 38.9% compared with the first half of 2022, and in North America (share of net sales: 30%) by 32.0%. In Asia/Pacific (share of net sales: 14%), net sales decreased by 25.0%.
At CHF 337.7 million, the Mikron Group's order backlog at the end of June 2023 was 24.8% higher than the figure at the end of 2022. Capacity utilization in all three divisions was high during the whole first half of 2023.
Profitability
Compared with 2022, Mikron increased its half-year EBIT from CHF 11.4 million to CHF 16.9 million. The Group thus achieved an EBIT margin of 9.5% for the first half of 2023 (7.8% for the first half of 2022). Profit came to CHF 13.9 million, which is 32.4% higher than the 2022 half-year result (CHF 10.5 million). This half year’s profit includes a one-time positive effect of CHF 2.1 million, resulting from the sale of a non-operating property in Nidau (Switzerland). The operating profitability for the first six months of 2023 is in line with the prior-year figure.
Cash flow
Cash flow from operating activities (including changes in net working capital) amounted to CHF 30.1 million in the first half of 2023 (first half of 2022: CHF 10.3 million). Cash flow from investing activities amounted to CHF 20.9 million, resulting in free cash flow of CHF 51.0 million.
Outlook
It remains difficult to make a forecast for the second half of the year due to the unpredictable development of the world economy, the inflation trend, and the war in Ukraine. For the full year 2023, Mikron expects profitability (excluding the one-off effect of CHF 2.1 million from the sale of the property in Nidau) to remain at a similar level to 2022.
Key Figures for the Mikron Group in the first half year 2023
1.1.–30.6.23
1.1.–30.6.22
+/-
CHF million 1)
Order intake 2)
248.7
223.3
11.4%
- Machining Solutions
71.5
96.6
-26.0%
- Automation
177.2
126.7
39.9%
Net sales
178.3
145.9
22.2%
- Machining Solutions
72.3
62.0
16.6%
- Automation
106.0
83.9
26.3%
EBIT 2)
16.9
11.4
48.2%
Profit
13.9
10.5
32.4%
Operating cash flow
30.1
10.3
192.2%
Order backlog 2) 3)
337.7
255.7
32.1%
- Machining Solutions
101.0
95.4
5.9%
- Automation
236.7
160.3
47.7%
Number of employees 2) 3)
1,473
1,367
7.8%
- Machining Solutions
553
539
2.6%
- Automation
895
805
11.2%
30.6.23
31.12.22
+/-
Balance sheet total
391.2
345.9
13.1%
Equity ratio 2)
49.1%
53.8%
-4.7%
1) Except number of employees and equity ratio
2) Alternative performance measures, see Mikron Semiannual Report 2023, pages 16 to 18
3) End of period
Publication of semiannual results for 2023
The semiannual results will be published at the same time as this ad hoc announcement in the form of the 2023 Semiannual Report: www.mikron.com/financial-reports
Brief profile of the Mikron Group
The Mikron Group develops, produces and markets highly precise, productive and adaptable automation solutions, machining systems and cutting tools. Rooted in the Swiss culture of innovation, Mikron is a global partner to companies in the pharmaceutical, medtech, consumer goods, automotive, and general engineering industries. The Mikron Group enables its customers to increase quality and industrial productivity. The Group has over 100 years of experience, state-of-the-art technologies, and a global service. The two business segments Mikron Automation and Mikron Machining Solutions are based in Switzerland (Boudry and Agno). Additional production sites are located in the USA, Germany, Singapore, China and Lithuania. Mikron Holding AG shares are traded on SIX Swiss Exchange (MIKN). The Mikron Group employs a total workforce of around 1,500.
Download ad hoc announcement pursuant to Art. 53 LR:
Contact
Mikron Switzerland AG, Dr. Javier Perez Freije, CFO Mikron Group
Phone +41 91 610 62 09, ir.mma@mikron.com
Investor Relations Calendar
March 8, 2024, 07.00 a.m. – Ad hoc announcement pursuant to Art. 53 LR: Publication of the 2023 Annual Report
March 8, 2024, 10.30 a.m. – Media and analysts conference
April 23, 2024, 04.00 p.m. – Annual General Meeting 2024
Except for the historical information contained herein, the statements in this ad hoc announcement are forward-looking statements that involve risks and uncertainties.
Mikron® is a trademark of Mikron Holding AG, Biel (Switzerland).
Mikron Holding AG | Mühlebrücke 2 | 2502 Biel | Schweiz | T+41 32 321 72 00 | F +41 32 321 72 01 | www.mikron.com
End of Inside Information
1684059 20-Jul-2023 CET/CEST