Komax Group revises outlook for 2023 financial year
Media Release
Ad hoc announcement pursuant to Art. 53 LR
On the basis of a subdued business performance towards the end of 2023, the Komax Group does not expect to achieve its forecast for the 2023 financial year communicated in March 2023. It now anticipates revenues of approximately CHF 750 million (previously: CHF 770 million) and an EBIT margin of around 9% (previously: around 11%). This excludes the sale of a building in Switzerland and extraordinary effects from the closure of a site in Germany.
The Komax Group’s customers remain keen to further automate their wire processing operations. Towards the end of 2023, however, various economic and geopolitical uncertainties meant that they were increasingly reluctant to make investment decisions. The resulting order intake amounted to CHF 686.5 million, which represented an increase of 1.2% on the previous year (CHF 678.1 million).
Taking the first provisional figures for the full 2023 financial year into account, the Komax Group is expecting revenues of approximately CHF 750 million (2022: CHF 606.3 million), with the EBIT margin coming in at around 9% (2022: 11.8%). Revenues are thus likely to be just under CHF 20 million lower than the forecast CHF 770 million, with a reduction in the EBIT margin of around two percentage points compared with the predicted figure of around 11%. The revenue increase of more than 20% compared with the previous year is nevertheless striking, and is due to the combination with Schleuniger on the one hand and to the Komax Group’s record order backlog at the beginning of 2023 on the other.
The new expected EBIT margin of around 9% does not include any extraordinary effects such as the profit of CHF 11.1 million from the sale of a building at the production site in Rotkreuz, Switzerland, completed in the first quarter of 2023, or the expenses for the closure of the site in Jettingen, Germany.
The Komax Group will publish its detailed financial statements for 2023 on 12 March 2024.
