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As the company announced on Wednesday, sales rose 5.4 percent to 735 million francs. Adjusted for the exchange rate effect, there was even a 10.7 percent increase. The two divisions Surface Solutions division (surface technology) contributed to growth, while the Polymer Machining Solutions division was only able to maintain the previous year’s level.
Incoming orders decreased by 13.9 percent to 681 million. Minus 9.7 percent here, without the negative currency effect.
At the same time, the operating result at EBITDA decreased by 3.8 percent to CHF 116 million and the corresponding margin decreased by 150 basis points to 15.8 percent. This is due to mixing effects and higher input costs. The company does not provide information on first quarter net income. With these figures, the company has exceeded the expectations of analysts, especially in terms of sales.
“Q1 results were in line with our expectations and we are on track to implement our strategy,” said Michael Süss, Chief Executive Officer. said. Throughout 2023, margins will strengthen with positive pricing and austerity measures already announced.
Oerlikon took measures to protect margins and recorded planned costs in the last financial year. The capacities in the polymer section will be adjusted according to the decreasing demand. More than 800 jobs are planned to be cut from a total of 4,000 jobs, mainly in Remscheid and Neumünster in Germany.
The previous forecast for the current year has been confirmed. The company expects sales of approximately CHF 2.8 billion (excluding purchased Riri) and an EBITDA margin of between 16.0 and 16.5 percent (0.95 billion francs).
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
