Horgen, August 9, 2007 – In the first half of the current year, the Group received new orders totaling CHF 258.2 million (+3%). Gross revenues reached CHF 234.6 million (+4%). SSM Textile Machinery and Satisloh reported a significant increase in sales. The decrease reported by Ismeca Semiconductor is attributable to the high prior-year figure.
The Group achieved an operating profit of CHF 22.3 million (H1 2006: 21.9 million), corresponding to a margin of around 10%. SSM Textile Machinery and Satisloh recorded a substantial improvement in operating profit, while Ismeca Semiconductor posted a balanced result. Aided by currency gains, net income amounted to CHF 21.2 million (H1 2006: 17.1 million) with a net cash position of CHF 68.8 million (H1 2006: 45.8 million).
SSM Textile Machinery reported a marginal increase in new orders compared with the first half of 2006 and succeeded in lifting sales by 14%. Order intake from the Indian subcontinent remained at the higher year-earlier level. Turkey showed impressive growth. Despite below-average results in China in the first six months, the outlook for the second half of the year is good. Operations in the air texturing segment were consistently encouraging. The division reported an operating profit margin of around 12% in spite of higher development costs. The product innovations to be showcased in September at the ITMA, the textile machinery industry’s foremost trade fair, will give SSM an additional boost.
Satisloh posted a 7% rise in new orders and 11% sales growth. New orders of over CHF 140 million for the first half represent the highest volume in the company’s history. The Coating arm in particular turned in a very encouraging performance to produce a solid operating profit of CHF 16.6 million, which corresponds to a margin of 13%.
Ismeca Semiconductor reported a healthy order intake of over CHF 60 million. While this represents a modest 5% decline against the year-back figure, it marks a 20% increase over the relevant second half of 2006. The outsourcing of operations to Asia, which is progressing according to schedule, and additional cost savings produced a balanced result following the significant loss experienced in the second half of 2006.
Outlook
The sound performance is expected to continue in the second half of the year. All divisions have solid order backlogs amid a strong positive business outlook.