29 March2021

Marc Desrayaud will be the new CEO of the Mikron Group

Marc Desrayaud will be the new CEO of the Mikron Group

 

Marc Desrayaud has acquired in-depth market knowledge and experience from his previous activities, including in the tooling, automotive and watchmaking industries as well as in medical technology. The Board of Directors of the Mikron Group is looking forward to working with Marc Desrayaud and would like to take this opportunity to thank Bruno Cathomen for his achievements as CEO and his great and continuing commitment, even after his decision to leave Mikron in mid-2021.

Media release (PDF) - (PDF, 204 KB) a

10 March2021

Successfully restructured Mikron Group with strengthened position in automation and tooling business

Successfully restructured Mikron Group with strengthened position in automation and tooling business

 

Biel, March 10, 2021, 7.00 a.m. – In the 2020 financial year, which was strongly impacted by the COVID-19 crisis, the Mikron Group’s sales declined from CHF 327.6 million to CHF 257.8 million (-21.3%). While the Mikron Automation business segment held up well particularly in its main market – the pharmaceutical and medtech sectors, the Mikron Machining Solutions business segment suffered considerably owing to the general mood of uncertainty and low demand for machining systems especially in the automotive industry. The substantial restructuring measures had a positive impact already in the course of the second half of the year. At the end of 2020, the Mikron Group’s order backlog of CHF 161.6 million was already higher than the corresponding figure at the end of 2019 (CHF 157.4 million, +2.7%). The Group’s EBIT for 2020 amounts to CHF -4.7 million before restructuring costs and to CHF -20.8 million after restructuring costs (2019: CHF 14.1 million). Overall, Mikron is facing the current challenges in a stronger position, with a significantly improved cost structure and with secured liquidity.

 

The two business segments Mikron Automation and Mikron Machining Solutions both look back on a difficult business year. While Mikron Automation held up well overall, due to the good positioning in its main sales market of pharmaceutical and medtech sectors, the Machining Solutions segment was more affected by the COVID-19 crisis. Demand for machining systems in the automotive industry, its main sales market had already fallen sharply before the outbreak of COVID-19. The pandemic further worsened the situation and also severely impacted the service and tooling business.

The extensive restructuring programs were implemented consistently and rapidly in both business segments. Restructuring cost of CHF 16.1 million burdened the results in 2020 while the reduced cost base showed positive effects already in the second half-year. In the Mikron Machining Solutions business segment, capacity was significantly reduced, and production of machining systems concentrated at one site. In the Mikron Automation business segment, the Berlin site will be closed by mid-2021.

 

Order intake

The Mikron Group reported order intake of CHF 267.3 million in 2020, representing a decrease of 7.3% compared with the prior year (CHF 288.5 million). The Mikron Automation business segment increased its order intake to CHF 171.5 million (previous year: CHF 169.2 million, +1.4%), while the Mikron Machining Solutions business segment saw a decline to CHF 96.0 million (previous year: CHF 119.4 million, -19.6%).

 

Net sales and order backlog

Posting annual net sales of CHF 257.8 million, the Mikron Group fell 21.3% short of the prior-year’s result of CHF 327.6 million. While Mikron Automation’s net sales of CHF 161.7 million were 8.7% behind the previous year’s figure, Mikron Machining Solutions recorded net sales of CHF 96.3 million (2019: CHF 151.5 million, -36.4%).

 

At CHF 161.6 million, the Mikron Group’s order backlog at the end of 2020 was 2.7% higher than the prior-year figure. While the Machining Solutions business segment reported an order backlog at the level of the previous year (+0.3%), the Automation segment increased the same figure by 3.4%.

 

Profitability

EBIT for the 2020 business year was negatively impacted by one-off expenses in connection with the restructuring measures. In total, restructuring costs of CHF 16.1 million were booked. Due to the significant drop in sales in the Mikron Machining Solutions business segment and the lack of volume at the Berlin site in the Mikron Automation business segment, the Group’s EBIT (before restructuring costs ) of CHF -4.7 million in 2020 was significantly lower than in 2019 (CHF 14.1 million). The Automation business segment, whose results are strongly negatively impacted by the Berlin site, posted EBIT (before restructuring costs) of CHF 9.1 million (2019: CHF 12.9 million). EBIT before restructuring costs for the Mikron Machining Solutions business segment, at CHF -13.6 million, was also well below the prior-year figure of CHF 1.1 million. After restructuring costs, the Group EBIT stands at CHF -20.8 million.

 

Net earnings

Mikron’s net earnings for 2020 were CHF -22.1 million, compared to CHF 8.8 million in the prior year. Net earnings per share for the year 2020 came to CHF -1.35 (prior year: CHF 0.54). At the General Meeting on 23 April 2021, the Board of Directors of the Mikron Group will propose no distribution to the shareholders.

 

Outlook

The Mikron Automation business segment started 2021 with a solid order backlog and is anticipating further encouraging developments in the pharmaceutical and medtech sectors.

 

In the Mikron Machining Solutions business segment, the restructuring in the machining division is essentially complete, with capacity reduced and concentrated on one site. The new Mikron MultiX platform is proving its worth with new customers. New digital services and products have already proved successful in practice. Concrete signs of recovery in demand for tools and services were noted at the end of 2020.

 

However, it is difficult to estimate how quickly demand will recover in the machine business. The unpredictable further development of the COVID-19 pandemic and the possible impact on customers’ investment decisions do not allow any concrete forecasts to be made at present. Mikron is facing the current challenges in a stronger position and with a significantly improved cost structure compared to the beginning of 2020. For the entire Group, Mikron expects a slight increase in sales and a return to profitability in the 2021 financial year.

 

 

Key figures for the Mikron Group

 

		2020	2019			+/-
CHF million1)
Order intake2)		267.3	288.5			-7.3%
- Machining Solutions		96.0	119.4			-19.6%
- Automation		171.5	169.2			1.4%
Net sales		257.8	327.6			-21.3%
- Machining Solutions		96.3	151.5			-36.4%
- Automation		161.7	177.2			-8.7%
Order backlog2)		161.6	157.4			2.7%
- Machining Solutions		38.2	38.1			0.3%
- Automation		123.4	119.4			3.4%
Number of employees2)		1’331	1,486			-10.4%
- Machining Solutions		545	707			-22.9%
- Automation		759	750			1.2%
EBIT2), before restructuring costs		-4.7	14.1			n/a
- Machining Solutions		-13.6	1.1			n/a
- Automation		9.1	12.9			-29.5%
EBIT2)		-20.8	14.1			n/a
- Machining Solutions		-21.6	1.1			n/a
- Automation		1.1	12.9			-91.5%
Loss/profit for the year		-22.1	8.8			n/a
Operating cash flow		9.2	7.3			26.0%
Balance sheet total		277.1	289.5			-4.3%
Equity ratio		52.5%	58.5%			-6.0%

 

1)     except number of employees and %

2)     Alternative performance measures, see Annual Report 2020, pages 96 to 98, or www.mikron.com/apm

 

Publication of annual results for 2020

The annual results will be published at the same time as this media release in the form of the 2020 Annual Report: www.mikron.com/reports. Online report see: https://report.mikron.com.

Media release (pdf) - (PDF, 151 KB) a

27 January2021

Mikron with improved earnings in second half

Mikron with improved earnings in second half

 

Biel, January 27, 2021, 7.00 a.m. – According to provisional closing figures, the Mikron Group’s sales contracted from CHF 327.6 million to CHF 257.8 million (-21.3%) in the 2020 business year, which was dominated by the Covid crisis. While the Mikron Automation business segment held up well in the pharmaceutical and medtech sectors in particular, its main market, the Mikron Machining Solutions business segment suffered considerably owing to the general mood of uncertainty and low demand for machining systems. Both business segments incurred substantial restructuring costs in the first half of 2020. The measures taken had a positive impact on the result already in the course of the second half. Order intake and net sales also improved compared with the first half. Overall, Mikron is expecting to report a small positive EBIT for the second six months and so post an EBIT loss for 2020 in the neighborhood of the half-year results.

 

Order intake

At CHF 267.3 million, the Mikron Group posted a 7.3% decrease in order intake compared with 2019 (CHF 288.5 million). The Mikron Automation business segment accounted for CHF 171.5 million of order intake, and the Mikron Machining Solutions business segment CHF 96.0 million, with the order situation in the tools business fortunately recovering somewhat towards the end of 2020.

 

Net sales and order backlog

With annual net sales at CHF 257.8 million, the Mikron Group fell short of the previous year’s result (CHF 327.6 million) by 21.3%. The Mikron Automation business segment reported sales of CHF 161.7 million (previous year: CHF 177.2 million, -8.7%), while the Mikron Machining Solutions business segment suffered a decrease in sales to CHF 96.3 million (previous year: CHF 151.5 million, -36.4%). At CHF 161.6 million, the Group’s year-end order backlog is, however, higher than at the end of 2019 (CHF 157.4 million, +2.7%) and at the end of June 2020 (CHF 155.0 million, +4.3%).

 

Profitability

Mikron is expecting EBIT (incl. restructuring costs) at the level of the half-year results (CHF - 21.6 million).

 

Mikron will announce the Group’s detailed closing figures for 2020 at the Media and Analysts Conference on March 10, 2021.

 

 

Preliminary volume figures for the Mikron Group

 

		2020	2019	+/-
CHF million
Order intake 1)		267.3	288.5	-7.3%
- Machining Solutions		96.0	119.4	-19.6%
- Automation		171.5	169.2	+1.4%
Net sales		257.8	327.6	-21.3%
- Machining Solutions		96.3	151.5	-36.4%
- Automation		161.7	177.2	-8.7%
Order backlog 1)		161,6	157.4	+2.7%
- Machining Solutions		38.2	38.1	+0.3%
- Automation		123.4	119.4	+3.4%

 

^{1)     Alternative performance measures, see Annual Report 2019, pages 102 to 104, or www,mikron.com/apm}

Media release (PDF) - (PDF, 128 KB) a