KOMAX Holding AG
Ongoing upward trend at Komax – strong positioning for the future
KOMAX Holding AG / Key word(s): Annual Results Dierikon, 15 March 2022 Media release 2021 annual financial statements of the Komax Group The Komax Group gradually found its way back to ‘normality’ in 2021, and significantly surpassed the results of the challenging previous year in respect of order intake (CHF 482.4 million, +39.7%) and revenues (CHF 421.1 million, +28.5%). Operating profit (EBIT, CHF 44.8 million) ist around four times that of the prior year. Although the automotive industry continued to be hard-hit by the coronavirus pandemic and supply chain difficulties, it became apparent that wire harness manufacturers are keen to increase automation in their factories for the long term, and are turning to the innovative solutions of Komax to do so. Komax is therefore well positioned for a successful future, which it intends to shape together with Schleuniger. The Board of Directors is proposing to the Annual General Meeting a dividend of CHF 4.50 per share, corresponding to a payout ratio of 57.0%. The need for automation solutions increased continuously over the year, resulting in a high order intake of CHF 482.4 million (2020: CHF 345.3 million) for the company. Komax thus received 39.7% more orders than in 2020, and only 2.9% fewer than in the record year of 2018, for which the company registered an order intake of CHF 496.7 million. As Komax coped well with the significant supply chain challenges and for the most part maintained the accustomed level of reliability on deliveries, it did not record substantial drops in revenues. Komax posted revenues of CHF 421.1 million, 28.5% higher than in the previous year (CHF 327.6 million). This increase in revenues was made up of strong organic growth (28.0%) and a slightly positive foreign currency impact (0.5%). Sharp improvement in profitability Group earnings after taxes (EAT) likewise increased significantly, rising to CHF 30.4 million (2020: CHF -1.3 million). Due to lower interest costs, the financial result of CHF -6.6 million was less negative than in the previous year (CHF -8.9 million), and accordingly weighed on EAT less heavily. In addition to interest costs, the financial result comprises above all unrealized foreign exchange losses on loans to subsidiaries in emerging markets. The tax rate amounted to 20.5%. Basic earnings per share work out at CHF 7.90 (previous year: CHF -0.34). Revenues increased in all regions in 2021, and the demand for automation solutions increased in all market segments in which Komax is active. Although Komax continues to generate some 80% of its revenues with the automotive industry, the industrial market segment is steadily gaining in significance, and proved to be very robust during the coronavirus pandemic in particular. The automation requirement of industrial customers, particularly in the control cabinet building area, is high, and offers considerable growth potential for Komax. Viewed in regional terms, Asia recorded the strongest growth in revenues (37.4%), despite the fact that this region witnessed the smallest drop in revenues of any region in 2020. The investment climate improved significantly in North/South America too, facilitating a 30.3% rise in revenues. The lowest revenue growth was recorded by Europe (24.6%) and Africa (23.9%). Komax invests in the future Another important investment for the company’s future in 2021 was the purchase of a plot of land with a production and office building in Dierikon. The property is located immediately adjacent to Komax’s headquarters, and will allow the company to sell the site in Rotkreuz and amalgamate these Swiss activities in Dierikon. The acquired property also gives Komax the opportunity to grow further at its largest global production and development site, since it includes 6,400 m² of currently undeveloped land. Solid financial foundation Komax continues to have a very solid financial base. As at 31 December 2021, shareholders’ equity totaled CHF 264.9 million (2020: CHF 236.5 million), while the equity ratio stood at 51.4% (2020: 52.3%). Quasi-merger of Komax and Schleuniger To implement the combination, Komax will propose to the Annual General Meeting of 13 April 2022 the creation of an authorized capital increase to issue 1,283,333 new shares. These will be allocated to Metall Zug AG in exchange for the shares of Schleuniger AG. Metall Zug AG, the current owner of Schleuniger AG, will subsequently hold a 25% stake in Komax Holding AG. In addition, the Annual General Meeting will be asked to abolish the 15% restrictions on registration and voting rights and elect as an additional member of the Board of Directors Dr. Jürg Werner, the current Chairman of the Schleuniger AG Board of Directors. Completion of the quasi-merger is subject to the approval by the Annual General Meeting and the relevant competition authorities. Approval of competition authorities is expected in the third quarter of 2022. Dividend of CHF 4.50 Outlook Financial calendar
Key figures of the Komax Group
1 Equity attributable to shareholders of Komax Holding AG.
Komax registered share: key data
1 Proposal of Board of Directors of Komax Holding AG to the Annual General Meeting. Media release (PDF) Contact Komax is a globally active technology company that focuses on markets in the automation sector. As a leading manufacturer of innovative and high-quality solutions for the wire processing industry, the Komax Group helps its customers implement economical and safe manufacturing processes, especially in the automotive supply sector. The Komax Group employs more than 2100 people worldwide and provides sales and service support via subsidiaries and independent agents in more than 60 countries. Komax News Portal Komax Holding AG, Industriestrasse 6, 6036 Dierikon, Switzerland End of ad hoc announcement |
Language: | English |
Company: | KOMAX Holding AG |
Industriestrasse 6 | |
6036 Dierikon | |
Switzerland | |
ISIN: | CH0010702154 |
Valor: | 907324 |
Listed: | SIX Swiss Exchange |
EQS News ID: | 1302325 |
End of Announcement | EQS News Service |