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Strong growth in order intake and revenues

Media Release

Ad hoc announcement pursuant to Art. 53 LR

In the 2017 financial year, the Komax Group recorded significant increases in both order intake and revenues. At CHF 449.7 million, order intake was up 21.5% on the prior year (CHF 370.2 million), while revenues increased by around 10% to approximately CHF 410 million (prior year: CHF 373 million). The Group's annual financial statements and Annual Report will be published at the media and analyst conference to be held on 20 March 2018.

Viewed over the year as a whole, order intake was stable at an extremely high level (first half of 2017: CHF 224.4 million; second half: CHF 225.3 million) and looks set to sustain this momentum over the coming months. With regard to revenues, the second half of the year was significantly stronger, at approximately CHF 215 million, than the first half (CHF 194.7 million). As in the previous period, this was despite various orders not yet having filtered through to revenues in the second half – either because production was not yet completed or because orders were still on the way to customers. This explains why the inventories shown in the balance sheet remain high as at 31 December 2017. In addition, certain costs were not yet able to feed through to revenues.

The prior-year figures stated for revenues and order intake do not include the Medtech business unit, which was sold in April 2016. In 2016, Medtech generated an order intake of CHF 9.3 million and revenues of CHF 19 million.

In the second half of 2017, the necessary measures were taken to draw a line under the holding in an associated company dating from the time of Komax Solar. To this end, Komax made a value adjustment of a further CHF 1.7 million to the loan granted, after already having adjusted CHF 1.9 million in the first six months of the year.