Schweiter's SSM textile machinery sees decline in 2005
17 Mar '06
3 min read
Yarn manufacturing processing machines developer Schweiter Technologies AG released the results for 2005 year.
The unaudited accounts for 2005 show that orders received by the Group increased 28 percent to CHF 382.5 million (2004: 299.3 million). Revenues grew 13 percent to CHF 349.1 million (2004: 309.1 million).
Excluding the consolidation of Loh (acquired in October 2004) for the first full year, on the same consolidation basis new orders would have declined by around 15 percent and revenues would have fallen by approximately 22 percent. The Divisions which saw a decline in revenues were SSM Textile Machinery (-21 percent) and Ismeca Semiconductor (-39 percent).
Satisloh reported new orders amounting to CHF 221.3 million and revenues of CHF 198.5 million, which corresponds to 57 percent of total Group revenues. The Group reported an operating result (EBIT) of CHF 12.4 million (2004: 39.5). This produced a net income of CHF 19.0 million (2004: 35.1). The net income includes a profit of CHF 7.9 million from discontinued operations (divestment of Ismeca Automation in March 2005).
The Group posted year-end liquidity of CHF 51 million. Deduction of interest-bearing liabilities produced a net cash position of CHF 48 million. The equity ratio stood at 59 percent. The Board of Directors will propose that the Annual General Meeting on May 17, 2006 pay out a dividend of CHF 3.00 per share, corresponding to the distribution of 23 percent of net income for the year.
marketing@alchempro.com
