Horgen, August 15, 2014 – Group net revenues amounted to CHF 375.5 million in the first half of 2014, which represents an increase of 11%. The increase in local currencies amounted to 13%. Both divisions contributed to the revenue growth. The results showed above-average rises. Group EBITDA was up 15% to CHF 40.3 million, EBIT increased by 28% to CHF 28.7 million, and net income grew by 20% to CHF 20.8 million. The Group’s cash position stood at CHF 283 million after distribution of approx. CHF 57 million to the shareholders.
Schweiter Technologies Group
+ / -
as a % of net revenues
3A Composites reported a figure of CHF 349.9 million for orders received (1H 2013: 306.1 million). Net revenues rose by 10% to CHF 333.1 million (1H 2013: 301.9 million). This resulted in EBITDA of CHF 33.8 million (1H 2013: 31.3 million), representing a return on sales of at least 10%. EBIT came to CHF 22.8 million (1H 2013:19.2 million).
This growth was driven primarily by the architecture and display business in Europe. To some extent this can be attributed to the favorable weather conditions at the beginning of the year. Besides a stable trend in Western European countries, revenues in Southern Europe recovered slightly, although at a low level.
Architecture continued to post encouraging results in Asia, with growth driven in part by the successful integration of the Indian-based production facilities acquired at the end of 2013. After a weak prior-year period, architecture revenues increased in the US.
Demand for core materials was solid in both the wind power industry and the marine market. The considerable pressure on prices seen in this segment in recent years also eased.
Business fell short of expectations in the transport segment. Due to project delays and partially due to long certification processes, existing customer interest could not be sufficiently translated into revenues.
SSM Textile Machinery achieved a sound figure for orders received of CHF 41.4 million (1H 2013: 39.1 million). Net revenues rose by 15% to CHF 42.2 million (1H 2013: 36.7 million).
SSM benefited from its strong market position in the man-made fibers segment and the success of its subsidiary SSM Giudici, acquired in 2012. Among the most important sales markets, Turkey and the Southeast Asian countries developed encouragingly, while investment activity remained below average in China.
EBITDA showed a significant improvement, growing to CHF 7.7 million (1H 2013: 4.8 million). This corresponds to a margin of 18%.
3A Composites is expected to see its overall business performance continue along similar lines in the second half. Architecture and display business will remain solid in Europe and the US. Due to its strong market position and an improved production base, the architecture business in Asia is expected to grow further.
SSM Textile Machinery business is expected to remain sound, though slowing down slightly in the second half.
A media conference on the results for the first half of 2014 for analysts, media representatives and investors will take place at 11.00 a.m. today at the Marriott Hotel, Neumühlequai 42, 8035 Zurich
For further information:
Martin Klöti, CFO
Tel. +41 44 718 33 03, fax +41 44 718 34 51, email@example.com