Maxon Motor Group Posts Record Results in 2010

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Cautiously optimistic about future economic outlook

Maxon Motor Group Posts Record Results in 2010
Maxon Motor Group Posts Record Results in 2010

The maxon motor Group posted record results in fiscal 2010. Following the tough economic environment in 2009, maxon quickly recovered and made significant progress, with consolidated sales totaling CHF 306.6 million (up 23.6% on 2009). With cash flow (operating profit plus write-offs) of CHF 40.8 million (13.3% of consolidated sales), the company was able to fund all investment from its own resources. At year-end 2010, the company employed around 1,850 staff (174 more than in 2009), of which some 1,050 are based in Sachseln. More than 80% of production is exported. The company has production facilities in Sachseln, Sexau (Germany) and Veszprém (Hungary). maxon has a continuous innovation capacity and a well-stocked product pipeline. It is cautiously optimistic in its outlook for the current fiscal year.
"We achieved record results in 2010 thanks to everyone's hard work", said majority shareholder Karl-Walter Braun at the media conference. Monthly order intakes soared in 2010 compared to the previous year when short-term working had to be introduced. But against all expectations, the economy recovered relatively quickly and much stronger than anticipated. Within the maxon motor Group, key markets that grew the strongest in absolute terms were Switzerland, the US, Germany and Holland. Medical technology (45%) and industrial automation (28%) accounted for more than two thirds of all key markets.

Posted on June 21, 2011 - (5242 views)
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