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All Mikron Group’s financial key figures considerably better than in the previous year
Biel – In 2021, the Mikron Group was able to significantly improve its earnings situation. All financial key figures are considerably better than in the previous year. The key drivers of this encouraging development were the restructuring successfully completed in 2020 as well as the significant sales increases reported by both segments. Net sales of the Group rose from CHF 257.8 million to CHF 289.5 million (+12.3%). The Group’s EBIT for 2021 amounts to CHF 17.6 million (2020: CHF -4.7 million before restructuring costs and CHF – 20.8 million after restructuring costs), and the cash flow from operating activities is a remarkable CHF 50.7 million (2020: CHF 9.2 million).
At the end of 2020, the Mikron Group concluded the comprehensive restructuring measures of the previous year with the closure of the machine production facility in Rottweil (Germany) and its focus on tools. The Berlin site was closed. To simplify the organization, the Board of Directors of Mikron Holding AG decided furthermore to merge the four Swiss subsidiaries Mikron SA Boudry, Mikron SA Agno, Mikron Tool SA Agno and Mikron Management AG, Langenthal, into Mikron Switzerland AG, retroactively effective as per January 1, 2021. Mikron Holding AG, Biel, remained a separate entity. The merger of the four Swiss subsidiaries had a one-time positive tax effect for the financial year 2021 of approximately CHF 5 million by utilizing and capitalizing tax loss carry-forwards. The merger has no impact on the operating activities of the Group or on the management of the single locations.
Order intake and net sales
The Mikron Group reported order intake of CHF 305.7 million in 2021, representing an increase of 14.4% compared with the prior year (CHF 267.3 million). Posting annual net sales of CHF 289.5 million, the Mikron Group exceeded the prior-year’s result of CHF 257.8 million by 12.3%. Europe remains Mikron’s most important market, with approximately 50% of total net sales in 2021 (2020: 46%). Making up a share of 33%, North America remains in second place (previous year: 37%). The strongest market segment is by far the pharmaceutical and medtech sector at 56% (prior year: 56%). The automotive industry contributed 11% (prior year: 14%) to total net sales.
Order backlog and capacity utilization
At CHF 176.7 million, the Mikron Group’s order backlog at the end of 2021 was 9.3% higher than the prior-year figure. Capacity utilization in the Mikron Automation segment and in the Mikron Tool division was high during the whole year. In the Mikron Machining division, on the other hand, low demand in the first half of the year led to some spare capacity, which was managed with adjusted working hours. In the final months of the year under review, Mikron Machining’s capacities were subsequently also well-utilized.
In the 2021 financial year, the Mikron Group succeeded in significantly improving its EBIT and profit. Compared with the previous year, Mikron increased its EBIT from CHF -4.7 million (before restructuring costs) to CHF 17.6 million and turned its yearly loss of CHF -22.1 million into a profit of CHF 17.0 million. The Group thus achieved an EBIT margin for 2021 of 6.1%. Profit per share for the year 2021 came to CHF 1.04 (prior year: loss of CHF -1.35).
Distribution to shareholders
At the General Meeting on 27 April 2022, the Board of Directors of the Mikron Group will propose a distribution to the shareholders of CHF 0.24 per share.
Compared to the beginning of 2021, the Mikron Group is entering the 2022 financial year in a much stronger position, with an improved cost structure, a solid order backlog in both business segments and a good demand trend in all key sales markets. Mikron is aiming for a further profitability improvement in the current year. A forecast for fiscal year 2022 remains difficult. This is due on the one hand to the unpredictable development in connection with the Corona pandemic and the war in the Ukraine and on the other hand to the uncertain availability of raw materials and supplier parts.
Brief profile of the Mikron Group
The Mikron Group develops, produces and markets highly precise, productive and adaptable automation solutions, machining systems and cutting tools. Rooted in the Swiss culture of innovation, Mikron is a global partner to companies in the automotive, pharmaceutical, medtech, consumer goods, writing instruments and watchmaking industries. The Mikron Group enables its customers to increase quality and industrial productivity. The Group has over 100 years of experience, state-of-the-art technologies, and a global service. The two business segments Mikron Automation and Mikron Machining Solutions are based in Switzerland (Boudry and Agno). Additional production sites are located in the USA, in Germany, Singapore, China and Lithuania. Mikron Holding AG shares are traded on SIX Swiss Exchange (MIKN). The Mikron Group employs a total workforce of around 1,300.
Publication of annual results for 2021
Key figures for the Mikron Group
|– Machining Solutions||135.4||96.0||41.0%|
|– Machining Solutions||112.9||96.3||17.2%|
|– Machining Solutions||61.1||38.2||59.9%|
|Number of employees2)||1,327||1,331||-0.3%|
|– Machining Solutions||523||545||-4.0%|
before restructuring costs
|– Machining Solutions||2.5||-13.6||n/a|
|– Machining Solutions||2.5||-21.6||n/a|
|Profit/loss for the year||17.0||-22.1||n/a|
|Operating cash flow||50.7||9.2||451.1%|
|Balance sheet total||300.0||277.1||8.3%|
1) except number of employees and %
2) Alternative performance measure, see Annual Report 2021, pages 102 to 104, or www.mikron.com/apm
Mikron Management AG, Javier Perez Freije, CFO Mikron Group
Phone +41 91 610 62 09, [email protected]
Investor Relations Calendar
April 27, 2022, 4.00 p.m. – Annual General Meeting 2022 (virtual conference)
July 20, 2022, 07.00 a.m. – Ad hoc announcement pursuant to Art. 53 LR, semi-annual results
Except for the historical information contained herein, the statements in this media release are forward-looking statements that involve risks and uncertainties.
Mikron® is a trademark of Mikron Holding AG, Biel (Switzerland).
About Mikron Automation
Mikron Automation is the leading partner for agile and scalable assembly systems – from the first idea to the highest performance solutions.
Mikron’s expertise and proven track record guarantee the most productive solution to assemble customer products at each stage of their life cycle.
To date, Mikron Automation has installed more than 3700 assembly and testing systems for customers worldwide. The division employs more than 650 people at Boudry and its other sites in Denver (USA), Singapore and Shanghai (China). All sites meet ISO 9001 standards, with Boudry certified to ISO 14001.
Further information at: https://www.mikron.com/automation-solutions/