Lower sales, more profit for SCHURTER Group

10th April 2013

Schurter AG

ES Admin

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The SCHURTER Group had to accept a decline in its sales of 8.7% to CHF 173.8M. However, the company, which is strongly oriented towards export, could maintain the result after taxes despite decreasing sales. It amounted to CHF 7.5M (4.3%), the cash flow amounted to CHF 16.5M or compared to the industry sector a sound 9.5%.

Personnel decreased, mostly abroad, to 1 453 persons (-12.4%).

The SCHURTER Group, including their 18 subsidiaries worldwide, fought against a declining order income. The situation only improved somewhat at the end of the year. The constantly decreasing sales led to a pronounced cost awareness in all areas. This was the main reason why a profit at the same level as the previous year could be maintained. The monetary influences remain, in contrast to the previous year, marginal and even developed with + 0.1% slightly positively.

Both business areas of the SCHURTER Group developed very differently. The strongly export oriented and very early-cyclical Components Division had to accept a decline in sales of 9.3% to still 138.2M. The profit of 5.2% and the cash flow of 10.2% were considerably higher than the values of the previous year. In the Input Systems Division the decline in sales of 6.1% to CHF 35.6M was more moderate. However, the cash flow of 6.5% and the profit of 0.8% remained below the expectations. Both divisions do not follow the same economic trends. The Components are notably early-cyclical, whereas the Input Systems rather follow the large economic trends.

The number of employees fell by 12.5% to 1 453 persons, whereby 498 employees are employed in Switzerland (-3.1%) and 955 abroad (-16.5%).

Investments in fixed assets remain constant at CHF 9M.