LUCERNE, Switzerland, Jan. 23, 2007 (PRIME NEWSWIRE) -- According to the provisional figures, the Komax Group lifted sales in the financial year 2006 from CHF 257 million to around CHF 314 million (+22%) and significantly expanded its position in all markets. Sales advanced by around 15% in Europe and approximately 25% in North and South America, even growing by as much as 65% in Asia. In terms of operating profit, the Group expects a significant increase in line with its forecast of last autumn.
The Komax Group has lifted sales from CHF 257 million in 2005 to around CHF 314 million in 2006, a sizeable increase of 22%. The company expanded its position in all markets, specifically with growth of around 15% in Europe, almost 65% in Asia and roughly 25% in North and South America. New products were successfully launched in the wire processing business. In addition, Komax was able to build up its production and development capacity through a joint venture in Malaysia and the expansion of its Shanghai site. The provisional figures show that Group operating profit has risen in a over proportional way. Order intake was up 19% on the previous year, rising from CHF 276 million to CHF 328 million.
Strong automotive sector
Komax profited in particular from the good performance on the automotive market. Demand for wire processing machines has risen considerably in this sector, especially in the USA. The growing need for security, comfort, quality and productivity is having a positive impact on the market for electronic applications. For example, Komax has doubled its sales of wire twisting machines. Wire twisting provides protection against electromagnetic interference, which is primarily of importance for the security-relevant functions, such as airbags or braking systems.
Progress in the medtech area
Komax also made further progress in the field of medical technology in the last year. The organizational integration of the production sites in Rockford USA within Ismeca Automation, which is based in La Chaux-de-Fonds, had a positive effect on sales figures stateside.
Successful Xcell 2500 photovoltaic system
In the photovoltaic segment, the recently launched Xcell 2500 machine system, which combines two previously separate processes, met with market success. Komax also has a further range of photovoltaic systems, which can be used for different applications in thin-film technology. Komax doubled its sales in the photovoltaic segment.
Outlook
The economic environment remains favourable for Komax. Increased quality and production standards and an expansion in electronic connectors in standard business, combined with continuing growth in the photovoltaic and medtech markets, create expectations of a good first-half in 2007. Komax anticipates additional momentum towards the end of the year from the world's largest wire processing trade fair.
Background information on the Komax Group
The Komax Group, founded in 1975 and headquartered in Dierikon/Lucerne, Switzerland, is one of the top global providers of wire processing systems and assembly automation equipment. The Komax Group operates production facilities in Switzerland, Portugal, France, the United States, Malaysia and China. It also maintains a distribution and service network spanning the entire globe. Its primary markets are the automotive industry, medical technology and photovoltaics, as well as the domestic appliance and office equipment sectors.
A detailed explanation of the financial statements will be given at the Media Conference and Analysts' Presentation on Tuesday, March 27, 2007, 10.00 a.m., at the SWX Swiss Exchange -- ConventionPoint, Zurich.
The Media Release can be downloaded from the following link: http://hugin.info/100418/R/1099408/196023.pdf