Strong sales growth in 2005 at maxon
maxon motor group reports further profitable growth - positive trend continues in 2006
Sachseln/OW - In the 2005 financial year, the maxon motor group increased its consoli¬dated sales by 7.8% to CHF 244.5 million (previous year CHF 226.8 million). Cash flow was 25% higher at CHF 30 million (previous year CHF 23.9 million). Successful sales, innova¬tion and increased efficiency made this improved performance possible. Investments for the trading year 2005 were once again financed in full from the cash flow generated. The maxon motor group further consolidated its financial base in 2005 and demonstrated its expertise and ability to innovate. With around 1500 employees, the company is looking forward to further sales growth in 2006.
The highest sales growth was reported by maxon motor group in North America where the medical technology division performed particularly well. Sales were up from CHF 56.8 million in 2004 to CHF 74 million, equivalent to a 25% increase. On the home market Switzerland, sales rose to CHF 40.1 million (CHF 34.7 million in the previous year). In Europe, sales remained at the same level as in the previous year with a figure of CHF 100 million. In the Far East, the distribution organisation in China doubled its turnover. Here too, medical technology grew strongly. On the Asian market for professional humanoid robots, the maxon motor group maintained its dominant position with a market share of 60-70%. However, total sales were lower at CHF 31.1 million (previous year: CHF 34.4 million).
"The strong growth of the past two years - around CHF 70 million - required heavy investments in infrastructure, installed machinery and production facilities. That is why we invested CHF 12 million in the new Technology Centre III. At CHF 30 million, cash flow exceeded the investments necessary to increase sales; our cash resources therefore rose further despite the higher sales": Dr Karl-Walter Braun, main shareholder of the group, described its financial stability with those words.
Despite the increase in sales by CHF 17.7 million, the number of full time employees within the group remained constant at around 1500. The innovative capability of the business is being further promoted and utilised. Ongoing measures to increase efficiency such as automation and rationalisation of the production flows are being taken forward.
Prospects for 2006: confirm expectations
In the first five months, the maxon motor group reported strong growth. New orders taken and sales broke all previous records. In this period, sales at around CHF 92 million were a good CHF 12.5 million up on the previous year, representing a 15.7% increase. Unless the economic environment deteriorates significantly, prospects for further sales growth in 2006 remain intact.
Author: maxon motor ag/20.06.2006
