Komax Holding AG: Healthy growth in 2014

Order intake from continuing operations increased by 6.9% to CHF 367.7 million (2013: CHF 343.9 million). Revenues from continuing operations rose by more than 11% to a good CHF 360 million (2013: CHF 324.0 million). These figures do not contain the contribution of the Solar segment, since this business has now been sold. The prior-year figures have accordingly been adjusted for comparative purposes. The Group's annual financial statements and Annual Report will be published at the press conference and analysts' presentation to be held on 24 March 2015.

Komax Wire
Komax Wire once again exceeded the previous year's impressive performance. Order intake increased by 12.5% to CHF 302.6 million (2013: CHF 268.9 million). After adjustment for acquisition effects, growth amounted to some 7%. After an already pleasing first half, demand continued to pick up in the second half of the year, buoyed by the healthy state of the automotive industry. Other end consumer markets such as the household goods, electronics, and telecommunications equipment industries likewise displayed robust development, albeit without matching the momentum of the automotive industry. The Europe, Africa and Asia regions generated strong growth in 2014. By contrast, the North/South America region did not match last year's performance. The partnership with SLE quality engineering developed in a very satisfying way. Komax Wire will continue to systematically pursue its current growth strategy with a view to further expanding its leading market position. In view of the lively development of business in the fourth quarter of 2014, the persistently healthy market environment, and a strong order book, Komax Wire is expecting a good start to the New Year.

Komax Medtech
Order intake at Komax Medtech weakened increasingly as the year progressed, as customers postponed their announced capacity increases for the assembly of medical devices. This had repercussions for the site at La Chaux-de-Fonds. By contrast, the US and Malaysia enjoyed a good year. Order intake amounted to CHF 65.1 million (2013: CHF 75.0 million).

Komax Solar
The Solar business was sold as part of a management buyout, with the new owners taking over the reins of responsibility with effect from 1 October 2014. For the time being, Komax still holds a minority stake of 25%. The corresponding figures in the financial statements are drawn up in line with IFRS 5, whereby these are summarized as "result from discontinued operations" in the income statement. The previous year's figures will be adjusted accordingly.

Foreign currency impact
Komax is also affected by the Swiss National Bank's surprise decision to abandon the minimum Swiss franc-euro exchange rate. By taking a raft of extensive measures, however, we have always succeeded in absorbing the effects of exchange rate fluctuations and safeguarding the Group's profitability in the past. We will now take further steps to actively enhance the congruence between income and expenditure in the various currencies and strengthen natural currency hedging. By doing so, we are confident of being able to compensate for the currency losses in the medium term. We continue to generate a significant proportion of our value in Switzerland as we find an ideal framework and achieve high productivity here.

Financial calendar

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The Komax Group is a global technology company that focuses on markets in the automation sector. As a leading manufacturer of innovative and high-quality solutions for the wire processing industry and systems for the manufacture of self-medication solutions, Komax helps its customers implement economical and safe manufacturing processes, especially in the automotive supply and pharmaceutical sectors. The Komax Group employs around 1,500 people worldwide and provides sales and service support via subsidiaries and independent agents in around 60 countries.

The media release can be downloaded from the following link: