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The Mikron Group reports a further improvement in profitability

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Mikron Holding AG / Key word(s): Half Year Results

20-Jul-2022 / 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.

Biel, July 20, 2022, 7.00 a.m. - The Mikron Group has again improved its half-year results in 2022. Order intake rose by 33.3% compared to the corresponding period of the previous year, sales by 4.3%, and EBIT increased from CHF 8.2 million in the first half of 2021 to CHF 11.4 million (+39.0%). This corresponds to an EBIT margin of 7.8% (first half of 2021: 5.9%). Strong demand in all key markets and higher sales in the Mikron Machining division were key factors in this pleasing development.

At CHF 223.3 million, the Mikron Group's order intake for the first half of 2022 is 33.3% higher than the corresponding figure for the first half of 2021 (CHF 167.5 million). All divisions contributed to this growth. The most significant increase was achieved by the Mikron Machining division (+52.9%) including long term frame orders. The Mikron Automation division was also able to take advantage of the continuing high demand from the pharma and medtech sectors, and increased its order intake by 32.0%.  

The Mikron Group’s net sales rose from CHF 139.9 million in the first half of 2021 to CHF 145.9 million in the first half of 2022 (+4.3%). A major part of the significant increase in order intake will generate sales in 2023, and in subsequent years. With a 48% share of sales, Europe (including Switzerland) remained the Mikron Group’s principal sales market in the first half of 2022. Mikron increased sales in Europe by 3.4% compared with the first half of 2021, in Asia by 60.8% while the sales in the USA decreased by -13.4%.

At CHF 255.7 million, the Mikron Group’s order backlog at the end of June 2022 was 44.7% higher than the figure at the end of 2021 (CHF 176.7 million). With the exception of the Chinese sites, which were only able to operate to a very limited extent or not at all due to local Corona restrictions, the Mikron Group recorded high capacity utilization in all three divisions throughout the first half of 2022.

Profitability
2022, Mikron achieved a half-year EBIT of CHF 11.4 million (first half of 2021: CHF 8.2 million, +39.0%). The Group thus achieved an EBIT margin of 7.8% in the first half of 2022. Profit is at CHF 10.5 million below the 2021 half-year result (first half of 2021: CHF11.8 million). Last year's profit included a one-time positive tax effect of CHF 5.0 million, resulting from the merger of the Swiss companies and the related capitalization of tax loss carryforwards.

Cash flow
Cash flow from operating activities (including changes in net working capital) amounted to CHF 10.3 million in the first half of 2022 (first half of 2021: CHF 29.0 million). Investments amounted to CHF 6.9 million, resulting in a free cash flow of CHF 3.4 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 and the inflation trend, the war in Ukraine, the distortions in the global supply chain, and the coronavirus pandemic. For the second half of 2022, Mikron expects profitability to remain at a similar level to the first half of 2022.

Key Figures for the Mikron Group in the first half year 2022

 

 

1.1.–30.6.22

 

1.1.–30.6.21

 

+/-

CHF million 1)

 

 

 

 

 

 

 

 

  

 

 

 

  

Order intake 2)

 

223.3

 

167.5

 

33.3%

- Machining Solutions

 

96.6

 

71.5

 

35.1%

- Automation

 

126.7

 

96.0

 

32.0%

Net sales

 

145.9

 

139.9

 

4.3%

- Machining Solutions

 

62.0

 

53.7

 

15.5%

- Automation

 

83.9

 

86.2

 

-2.7%

EBIT 2)

 

11.4

 

8.2

 

39.0%

Profit

 

10.5

 

11.8

 

-11.0%

Operating cash flow

 

10.3

 

29.0

 

-64.5%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Order backlog 2) 3)

 

255.7

 

190.2

 

34.4%

- Machining Solutions

 

95.4

 

56.6

 

68.6%

- Automation

 

160.3

 

133.7

 

19.9%

Number of employees 2) 3)

 

1,367

 

1,333 

 

2.6%

- Machining Solutions

 

536

 

522

 

2.7%

- Automation

 

800

 

783

 

2.2%

 

 

 

 

 

 

 

 

 

30.06.2022

 

31.12.2021

 

+/-

 

 

 

 

 

 

 

Balance sheet total

 

313.8

 

300.0

 

4.6%

Equity ratio 2)

 

55.4%

 

55.0%

 

0.4%

1) Except number of employees and equity ratio
2) Alternative performance measures, see Mikron Semiannual Report 2022, pages 16 to 18, or www.mikron.com/apm.
3) End of period

Publication of semiannual results for 2022
The semiannual results will be published at the same time as this ad hoc announcement in the form of the 2022 Semiannual Report: www.mikron.com/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 automotive, pharmaceutical, medtech, consumer goods, writing instruments and watchmaking 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, in 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 1,350.

Download ad hoc announcement pursuant to Art. 53 LR:
www.mikron.com/news

Contact
Mikron Switzerland AG, Dr. Javier Perez Freije, CFO Mikron Group
Phone +41 91 610 62 09, ir.mma@mikron.com

 

Download Ad hoc announcement pursuant to Art. 53 LR

Ad hoc announcement pursuant to Art. 53 LR (pdf)


Investor Relations Calendar
January 25, 2023, 07.00 a.m. – Ad hoc announcement pursuant to Art. 53 LR: Provisional closing figures
March 10, 2023, 07.00 a.m. – Ad hoc announcement pursuant to Art. 53 LR: Publication of the 2022 Annual Report
March 10, 2023, 10.30 a.m. – Media and analysts conference
April 26, 2023, 04.00 p.m. – Annual General Meeting 2023

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

Abbestellen


End of ad hoc announcement

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