Komax raises revenues forecast
Ad hoc announcement pursuant to Art. 53 LR
The trend towards increasing automation in wire processing has continued in the second half of 2022, and the Komax Group has reported further pleasing order intake. There are still huge challenges in the supply chains. Nevertheless, the Komax Group has been able to increase its production volume somewhat over the past months. The company is therefore increasing its revenues forecast for the 2022 financial year to around CHF 600 million (previously CHF 560 to 580 million). The expected EBIT margin remains the same at around 11%.
Following record-high order intake in the first half of 2022, the Komax Group has again received numerous orders from all regions in the third quarter. Due to the supply chain situation there are still challenges in processing the very strong order book. The Komax Group has nonetheless managed to improve the utilization of its existing production capacity thanks to the great efforts of many employees. Given this positive development, the Komax Group expects to achieve revenues of more than the CHF 560 to 580 million that it forecast in August. Komax Group now anticipates revenues of around CHF 600 million for the 2022 financial year.
In terms of the EBIT margin, the Komax Group is confident that it will be able to offset the rising costs and the uncertain currency situation and achieve the forecast level of around 11%. This margin already includes the consolidation effects arising in connection with the revaluation of the Schleuniger Group, which has been consolidated since 1 September 2022.
New syndicated loan
The combination with the Schleuniger Group has strengthened the Komax Group's solid financial base. The equity ratio is over 55%. The Komax Group is in the process of negotiating a new syndicated loan agreement to ensure the necessary financial flexibility in the future. The current agreement will expire at the end of January 2023 and the company is confident it will be able to sign a new syndicated loan agreement by the end of 2022.
Multifaceted Investors’ Day
At today’s Investors’ Day at its headquarters in Dierikon, Komax will present the next steps in the integration plans for the combination of Komax and Schleuniger. As already announced, Komax has started to analyze the new situation in detail to subsequently draw up new targets and the related strategy. These are expected to be communicated in the course of the second half of 2023 together with the new mid-term targets.
The Investors’ Day is also focusing on the vision of the SMART FACTORY by KOMAX, which will be implemented gradually over the coming years to provide innovative solutions for the main challenges faced by Komax’ customers. Participants will also be able to watch demonstrations of numerous innovations by Komax and Schleuniger from areas including e-mobility, digital services, and control cabinet building.