Komax expecting a strong second half
Ad hoc announcement pursuant to Art. 53 LR
The market situation gradually improved for the Komax Group in the first half of 2021. After a slow start to the year, orders have increased rapidly since May. Total order intake in the first six months amounted to CHF 230.7 million. This corresponds to an increase of 60.4% versus the weak previous year, i.e. a rise of 11.6% compared with the first half of 2019. Komax’s revenues forecast for 2021 was around 10% below the 2019 level (CHF 417.8 million). This revenues forecast is likely to prove accurate in the first half. Thanks to the high order backlog as of mid-year, Komax expects a significant rise in revenues for the second half.
The recovery in the automotive industry, where the Komax Group generates around 80% of its revenues, is reflected in the result for the first half of the year. Since May, Komax has seen a sharp rise in orders. Orders received by mid-year amounted to CHF 230.7 million, which corresponds to a 60.4% increase compared with 2020 (CHF 143.8 million). Compared with the more meaningful figure for the first half of 2019 (CHF 206.7 million), this is an increase of 11.6%.
As the market situation only showed a marked improvement in the course of the second quarter, most of the orders received had not been produced or delivered by mid-year. Revenues for the first half will therefore be considerably lower than order intake, and will probably be within the range of the communicated revenues forecast, i.e. around 10% below the 2019 level of CHF 203.3 million.
The high order backlog at mid-year indicates that revenues for the second half should be much higher than in the first six months. Assuming that the market situation does not deteriorate again, Komax is now targeting 2021 revenues in the region of the 2019 level (CHF 417.8 million).
The Komax Group will publish its detailed financial statements for the first half of 2021 on Tuesday, 17 August 2021.