Schaffner: 2011/12 Interim Results Fall Short of Last Year's Strong Performance

  Enquire / contact me

Sharp rise in new orders will have a positive impact on the second half-year

Schaffner's CEO Alexander Hagemann
Schaffner's CEO Alexander Hagemann

As announced, the results posted by Schaffner Group for the first half of 2011/12 failed to keep pace with the previous year's strong performance. Net sales of CHF 81 million (1st half of 2010/11: CHF 98.6 million) are 17.9% lower year-on-year (13.8% in local currencies). After adjustment for the CHF 7.7 million contribution to sales of the newly consolidated Schaffner MTC LLC, this amounts to a fall of 25.7%. Although production capacities were systematically adapted to reflect demand and fixed costs were reduced slightly despite the first-time consolidation of Schaffner MTC, the drop in sales led to a decline in operating result (EBIT) to CHF 1.4 million (CHF 9.0 million), with an EBIT margin of 1.7% (9.1%). Net profit amounted to CHF 0.3 million (CHF 7.2 million).
At the end of the first six months of the current fiscal year new orders are considerably higher than during the second half of the previous year. During the first half of 2011/12, the book-to-bill ratio was greater than 1 in all three divisions and hit 1.10 for the entire Group compared to 1.03 after the first six months of the 2010/11 fiscal year and 0.97 after twelve months. On the one hand, a new inventory cycle has begun and electronic component distributors in particular have started investing in larger inventories once again. At the same time, demand for products for photovoltaic applications and rail technology is also picking up. Integration of the US company Schaffner MTC LLC, acquired in September 2011, into the Power Magnetics division has been successfully completed. Schaffner MTC contributed CHF 7.7 million (USD 8.5 million) or 9.6% of the Schaffner Group's half-year sales and met expectations with an EBITDA margin in the upper single-digit range.
The prospects of all divisions have improved across the board. Due to strong order intake during the first half of the year, sales during the second half of 2011/12 should exceed those of the first half and the same period of the previous year in all divisions. Major new product launches will give sales in the Automotive division a further boost as of summer 2012.

Posted on May 15, 2012 - (213 views)
by
Related articles
Hammond Power Solutions Exhibits at Automation Fair 2018
Gain 10 Seconds in Production per Identified Cable
Hammond Power Solutions at SPI and NECA
BASF Corporation Leads a Commercial Demonstration with ExxonMobil
Double Column Machining for Large Dies
Measuring the Position of Hydraulic and Telescopic Cylinders
Smart Plastics for Smart Maintenance
Stop wasting time on network commissioning reports
"Change is a Collection of Processes''
Novotema Celebrates its 40th Anniversary
Abu Dhabi International Petroleum Exhibition & Conference
Connect Everything with eFactory
Sensing Innovation in Process and Control
Mechatronic Products
SENSORS & INSTRUMENTATION for Test Measurement & Control
IIoT I/O Series
Hannay Reel Hose and Cable Reels
SPS IPC Drives 2018 - Free Ticket
Level Switches
Ultrasonic Flowmeter for Air
Compact True Color Sensor
A new performance class in inductive displacement measurements
Positioning System
Torque Limiter
Ultrasonic Flowmeters for Compressed Air
Isolated 4-port PSE Controller
Multifunction Panel Meters DCM20 series
450 Watt Medical Power Supplies
Portable Emissions Analyzer E8500 plus
Photovoltaic Fuse Holder
Measuring the Position of Hydraulic and Telescopic Cylinders
AI Convention Europe Presents KAPTAIN
Ultrasonic Flowmeters for Compressed Air
JDN Mini 24/07
Motion Controller from FAULHABER with STO shutdown
Temperature control technology
Multi-tasking Communication Server
Guidance Systems for Higher Duty XTS Applications
Advanced Humanoid Robot Hand
Virtual Personal Assistant ODP S3