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17.08.2023 06:00:47 - dpa-AFX: EQS-Adhoc: Schlatter increases net sales and earnings in the first half of 2023 (english)
Schlatter increases net sales and earnings in the first half of 2023
Schlatter Industries AG / Key word(s): Half Year Results
Schlatter increases net sales and earnings in the first half of 2023
17-Aug-2023 / 06:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.
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SCHLATTER INDUSTRIES AG - SIX SWISS EXCHANGE: STRN - ISIN: CH0002277314
Ad hoc announcement pursuant to article 53 LR
S c h l i e r e n, 17 August 2023 In the first half of 2023, the Schlatter
Group posted order intake of CHF 62.4 million, which was lower than in the
comparable period of the previous year (first half of 2022: CHF 94.6
million). The Group recorded a 31% rise in net sales to CHF 67.4 million
(first half of 2022: CHF 51.3 million). At CHF 84.4 million, the order
backlog as at 30 June 2023 was close to the level at year-end 2022 (31
December 2022: CHF 89.4 million). Operating profit (EBIT) for the first half
of 2023 totalled CHF 3.7 million (EBIT margin: 5.4%), compared with CHF 2.9
million (EBIT margin: 5.7%) in the first half of 2022. For the first half of
the year, the Schlatter Group is reporting a positive net result of CHF 3.3
million (first half of 2022: CHF 2.0 million).
Demand for Schlatter products normalized in the first half of 2023. In
particular, demand for reinforcing mesh production systems and weaving
machinery for the paper industry dropped following a period of market
overheating. By contrast, after-sales volumes remained at a high level,
while the number of industrial mesh production systems and rail welding
systems sold increased. Suppliers' delivery problems have eased in some
areas, but the resulting backlogs continued to weigh on productivity. Prices
of sourced materials did not rise as fast but are still holding back
earnings, while further appreciation of the Swiss franc put further pressure
on earnings.
Welding segment 1st half of 2023
Key figures
Order intake: CHF 50.9 million (first half of 2022: CHF 71.7 million).
Net sales: CHF 51.5 million (first half of 2022: CHF 44.5 million).
Order backlog: CHF 61.9 million (31 December 2022: CHF 62.5 million).
Order intake in the welding segment was above expectations in the first half
of the year and roughly corresponds to segment capacity. While there was a
significant drop in order volume for reinforcing mesh production systems,
order intake increased in the other product areas. As a result of supply
bottlenecks, especially for electrical and control components, there were
delays in the delivery of machinery. The delivery backlog has lasted for
longer than had been anticipated and will continue to have a significant
impact in the second half of 2023.
Welding segment outlook
Given the present order backlog, good capacity utilization is ensured in the
welding segment in 2023 and beyond. Delivery delays should be resolved by
the final quarter of the year. For the most part, selling prices for
machines and systems are fixed, so the cost increases weigh heavily on the
margin. Schlatter assumes that price rises for the Schlatter product range
in the fourth quarter of 2023 will have a more favourable effect on the
margin. Inquiry activity remains good and is roughly in line with existing
capacity, but orders are significantly dependent on overall economic
developments.
Weaving segment 1st half of 2023
Key figures
Order intake: CHF 11.5 million (first half of 2022: CHF 22.9 million).
Net sales: CHF 15.9 million (first half of 2022: CHF 6.8 million).
Order backlog: CHF 22.5 million (31 December 2022: CHF 26.9 million).
Capacity utilization in the weaving segment is secured until the end of
2024. Nevertheless, further orders for reinforcing mesh production systems
are necessary for full capacity utilization at the Münster site.The measures
implemented at this site in the past financial year have had the desired
effect on earnings and a clear return to profitability has been achieved.
However, costs need to be reduced further and placed on a more flexible
basis in the medium term.
Outlook for the weaving segment
The weaving segment is embarking on the second half of 2023 with a high
order backlog. Including the welding modules for reinforcing mesh production
systems and machinery for the manufacture in Münster of mobile fences,
capacity utilization at this site in the current financial year and beyond
is healthy. Capacity utilization in the weaving segment is secured until
year-end 2024. The focus is on continuing to implement the medium and
long-term measures. The high order intake from China in recent periods has
come to an end. Orders from western markets are picking up, but order volume
is lower than from China. Downside effects come from the steep rise in
material prices and the availability of parts, especially electrical
components.
Outlook Schlatter Group
The Schlatter Group has successfully launched product innovations and
stepped-up marketing in regions where the company was previously
under-represented. The organization has been strengthened by increasing the
headcount. In addition, it has extended services business. As a result of
the significant profit in the first half of 2023, equity was strengthened.
Downside factors were higher prices for parts and components, further
appreciation of the Swiss franc, delivery delays due to supply bottlenecks,
and the resulting backlog in the delivery of machinery.
The markets for reinforcing mesh production machinery and weaving machinery
for the paper industry have normalized following a period of overheating,
especially in the first half of the previous year. Thanks to the pleasing
rise in the sale of industrial mesh production and rail welding systems,
order intake remained at a satisfactory level - albeit lower - and was
roughly in line with our capacity.
The Schlatter Group has ended the first half of 2023 with a high order
backlog, which ensures good capacity utilization until mid-2024. Timely
implementation of customer projects has priority. Other focal areas are
implementing innovations and the introduction of more flexible cost
structures. The Board of Directors and the management expect the operating
result in the second half of the year to be around the same level as in the
first half.
The full 2023 half-year report can be downloaded from the Schlatter Group
website:
http://www.schlattergroup.com/en/investor-relations/annual_and_semester_reports/
Further information
Schlatter Industries AG
Werner Schmidli
Chief Executive Officer
Telephone +41 44 732 71 70
Mobile +41 79 343 62 62
werner.schmidli@schlattergroup.com
Agenda
Key figures of the Schlatter Group
Schlatter Group (www.schlattergroup.com)
The Schlatter Group is one of the leading specialists in plant engineering
for resistance welding systems as well as weaving and finishing equipment
for the production of paper machine clothing, wire fabrics and wire mesh.
Thanks to its many years of experience in the field of plant technology, its
innovative strength and its reliable service, the Schlatter Group - which is
listed on the Swiss Reporting Standard of SIX Swiss Exchange - guarantees
its customers a range of powerful and high-quality production equipment.
This media information contains certain forward-looking statements, e.g.
statements using the words 'believes,' 'assumes,' 'anticipates,' or
formulations of a similar nature. Such forward-looking statements involve
known and unknown risks, uncertainties and other factors which could lead to
substantial differences between the actual future results, the financial
situation, the development or performance of the Company and those either
expressed or implied by such statements. Such factors include, among other
things: competition from other companies, the effects and risks of new
technologies, the Company's continuing capital requirements, financing
costs, delays in the integration of acquisitions, changes in the operating
expenses, the Company's ability to recruit and retain qualified employees,
unfavorable changes in the applicable tax laws, and other factors identified
in this communication. In view of these uncertainties, readers are cautioned
not to place undue reliance on such forward-looking statements. The Company
accepts no obligation to continue to report or update such forward-looking
statements or adjust them to future events or developments.
------------------------------
This information can be downloaded as a PDF from the following link:
Ad hoc announcement pursuant to article 53 LR
If you no longer wish to receive information from Schlatter Industries AG,
please send a message to: pascale.lehmann@lehmanncom.ch
---------------------------------------------------------------------------
End of Inside Information
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End of Announcement EQS News Service
---------------------------------------------------------------------------
1705269 17-Aug-2023 CET/CEST
Schlatter Industries AG / Key word(s): Half Year Results
Schlatter increases net sales and earnings in the first half of 2023
17-Aug-2023 / 06:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
SCHLATTER INDUSTRIES AG - SIX SWISS EXCHANGE: STRN - ISIN: CH0002277314
Ad hoc announcement pursuant to article 53 LR
S c h l i e r e n, 17 August 2023 In the first half of 2023, the Schlatter
Group posted order intake of CHF 62.4 million, which was lower than in the
comparable period of the previous year (first half of 2022: CHF 94.6
million). The Group recorded a 31% rise in net sales to CHF 67.4 million
(first half of 2022: CHF 51.3 million). At CHF 84.4 million, the order
backlog as at 30 June 2023 was close to the level at year-end 2022 (31
December 2022: CHF 89.4 million). Operating profit (EBIT) for the first half
of 2023 totalled CHF 3.7 million (EBIT margin: 5.4%), compared with CHF 2.9
million (EBIT margin: 5.7%) in the first half of 2022. For the first half of
the year, the Schlatter Group is reporting a positive net result of CHF 3.3
million (first half of 2022: CHF 2.0 million).
Demand for Schlatter products normalized in the first half of 2023. In
particular, demand for reinforcing mesh production systems and weaving
machinery for the paper industry dropped following a period of market
overheating. By contrast, after-sales volumes remained at a high level,
while the number of industrial mesh production systems and rail welding
systems sold increased. Suppliers' delivery problems have eased in some
areas, but the resulting backlogs continued to weigh on productivity. Prices
of sourced materials did not rise as fast but are still holding back
earnings, while further appreciation of the Swiss franc put further pressure
on earnings.
Welding segment 1st half of 2023
Key figures
Order intake: CHF 50.9 million (first half of 2022: CHF 71.7 million).
Net sales: CHF 51.5 million (first half of 2022: CHF 44.5 million).
Order backlog: CHF 61.9 million (31 December 2022: CHF 62.5 million).
Order intake in the welding segment was above expectations in the first half
of the year and roughly corresponds to segment capacity. While there was a
significant drop in order volume for reinforcing mesh production systems,
order intake increased in the other product areas. As a result of supply
bottlenecks, especially for electrical and control components, there were
delays in the delivery of machinery. The delivery backlog has lasted for
longer than had been anticipated and will continue to have a significant
impact in the second half of 2023.
Welding segment outlook
Given the present order backlog, good capacity utilization is ensured in the
welding segment in 2023 and beyond. Delivery delays should be resolved by
the final quarter of the year. For the most part, selling prices for
machines and systems are fixed, so the cost increases weigh heavily on the
margin. Schlatter assumes that price rises for the Schlatter product range
in the fourth quarter of 2023 will have a more favourable effect on the
margin. Inquiry activity remains good and is roughly in line with existing
capacity, but orders are significantly dependent on overall economic
developments.
Weaving segment 1st half of 2023
Key figures
Order intake: CHF 11.5 million (first half of 2022: CHF 22.9 million).
Net sales: CHF 15.9 million (first half of 2022: CHF 6.8 million).
Order backlog: CHF 22.5 million (31 December 2022: CHF 26.9 million).
Capacity utilization in the weaving segment is secured until the end of
2024. Nevertheless, further orders for reinforcing mesh production systems
are necessary for full capacity utilization at the Münster site.The measures
implemented at this site in the past financial year have had the desired
effect on earnings and a clear return to profitability has been achieved.
However, costs need to be reduced further and placed on a more flexible
basis in the medium term.
Outlook for the weaving segment
The weaving segment is embarking on the second half of 2023 with a high
order backlog. Including the welding modules for reinforcing mesh production
systems and machinery for the manufacture in Münster of mobile fences,
capacity utilization at this site in the current financial year and beyond
is healthy. Capacity utilization in the weaving segment is secured until
year-end 2024. The focus is on continuing to implement the medium and
long-term measures. The high order intake from China in recent periods has
come to an end. Orders from western markets are picking up, but order volume
is lower than from China. Downside effects come from the steep rise in
material prices and the availability of parts, especially electrical
components.
Outlook Schlatter Group
The Schlatter Group has successfully launched product innovations and
stepped-up marketing in regions where the company was previously
under-represented. The organization has been strengthened by increasing the
headcount. In addition, it has extended services business. As a result of
the significant profit in the first half of 2023, equity was strengthened.
Downside factors were higher prices for parts and components, further
appreciation of the Swiss franc, delivery delays due to supply bottlenecks,
and the resulting backlog in the delivery of machinery.
The markets for reinforcing mesh production machinery and weaving machinery
for the paper industry have normalized following a period of overheating,
especially in the first half of the previous year. Thanks to the pleasing
rise in the sale of industrial mesh production and rail welding systems,
order intake remained at a satisfactory level - albeit lower - and was
roughly in line with our capacity.
The Schlatter Group has ended the first half of 2023 with a high order
backlog, which ensures good capacity utilization until mid-2024. Timely
implementation of customer projects has priority. Other focal areas are
implementing innovations and the introduction of more flexible cost
structures. The Board of Directors and the management expect the operating
result in the second half of the year to be around the same level as in the
first half.
The full 2023 half-year report can be downloaded from the Schlatter Group
website:
http://www.schlattergroup.com/en/investor-relations/annual_and_semester_reports/
Further information
Schlatter Industries AG
Werner Schmidli
Chief Executive Officer
Telephone +41 44 732 71 70
Mobile +41 79 343 62 62
werner.schmidli@schlattergroup.com
Agenda
17.08.2023 Publication of half-year report 2023
25.01.2024 Publication of first financial data for the financial
year 2023
29.03.2024 Publication of the detailed annual result for 2023
through a media information and publication of the annual
report on the company's website
07.05.2024 Annual General Meeting
Key figures of the Schlatter Group
1st 1st 2nd 2022
half of half of half of
2023 2022 2022
Net sales CHF 67.4 51.3 59.2 110.5
million
Change from previous year % 31.3 14.6 18.9 16.7
Operating performance 1 CHF 66.7 52.0 60.3 112.3
million
Change from previous year % 28.3 13.6 18.3 16.1
Operating result (EBIT) CHF 3.7 2.9 2.6 5.5
million
In % of net sales % 5.4 5.7 4.4 5.0
Consolidated net result CHF 3.3 2.0 1.5 3.5
(incl. minorities) million
In % of net sales % 4.9 4.0 2.5 3.1
Consolidated net result CHF 3.5 2.0 1.4 3.4
(excl. minorities) million
in % of net sales % 5.2 3.9 2.4 3.1
Consolidated net result per CHF 3.15 1.83 1.27 3.10
registered share
Order intake CHF 62.4 94.6 33.5 128.1
million
Order backlog at period end CHF 84.4 115.0 89.4 89.4
million
Free cash flow 2 CHF 0.8 1.3
million
Headcount at period end 3 FTE 374 342 357 Average headcount FTE 364 334 348
30/06/2- 31/12/2-
023 022
Interest-bearing liabilities CHF 6.2 7.2
million
Net financial assets/(debt) CHF 2.0 1.7
4 million
Gearing 5 % 0.0 0.0
Current assets CHF 68.9 61.7
million
Non-current assets CHF 18.7 19.1
million
Liabilities CHF 53.5 49.5
million
Equity (incl. minorities) CHF 34.1 31.3
million
Equity (excl. minorities) CHF 34.1 31.2
million
Equity ratio (incl. % 38.9 38.5
minorities)
1 Operating performance: net sales from goods and services plus other
operating income plus change in inventories of finished/unfinished
goods, work in progress
2 Free cash flow: cash flow from operating activities less purchase
of tangible, intangible and financial assets, plus sale of
tangible, intangible and financial assets
3 Total full-time positions incl. Temporary employees, excluding
apprentices
4 Net financial assets (debt): cash and cash equivalents less
interest-bearing liabilities
5 Gearing: Net debt divided by equity
Schlatter Group (www.schlattergroup.com)
The Schlatter Group is one of the leading specialists in plant engineering
for resistance welding systems as well as weaving and finishing equipment
for the production of paper machine clothing, wire fabrics and wire mesh.
Thanks to its many years of experience in the field of plant technology, its
innovative strength and its reliable service, the Schlatter Group - which is
listed on the Swiss Reporting Standard of SIX Swiss Exchange - guarantees
its customers a range of powerful and high-quality production equipment.
This media information contains certain forward-looking statements, e.g.
statements using the words 'believes,' 'assumes,' 'anticipates,' or
formulations of a similar nature. Such forward-looking statements involve
known and unknown risks, uncertainties and other factors which could lead to
substantial differences between the actual future results, the financial
situation, the development or performance of the Company and those either
expressed or implied by such statements. Such factors include, among other
things: competition from other companies, the effects and risks of new
technologies, the Company's continuing capital requirements, financing
costs, delays in the integration of acquisitions, changes in the operating
expenses, the Company's ability to recruit and retain qualified employees,
unfavorable changes in the applicable tax laws, and other factors identified
in this communication. In view of these uncertainties, readers are cautioned
not to place undue reliance on such forward-looking statements. The Company
accepts no obligation to continue to report or update such forward-looking
statements or adjust them to future events or developments.
------------------------------
This information can be downloaded as a PDF from the following link:
Ad hoc announcement pursuant to article 53 LR
If you no longer wish to receive information from Schlatter Industries AG,
please send a message to: pascale.lehmann@lehmanncom.ch
---------------------------------------------------------------------------
End of Inside Information
---------------------------------------------------------------------------
Language: English
Company: Schlatter Industries AG
Brandstrasse 24
8952 Schlieren
Switzerland
Phone: +41 44 732 71 11
E-mail: info@schlattergroup.com
Internet: www.schlattergroup.com
ISIN: CH0002277314
Listed: SIX Swiss Exchange
EQS News ID: 1705269
End of Announcement EQS News Service
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1705269 17-Aug-2023 CET/CEST
| Name | WKN | Börse | Kurs | Datum/Zeit | Diff. | Diff. % | Geld | Brief | Erster | Schluss | |
|---|---|---|---|---|---|---|---|---|---|---|---|
 |
SCHLATTER N | 901395 | Schweiz | 26,800 | 04.06.24 17:50:00 | -1,200 | -4,29% | 25,400 | 27,800 | 28,000 | 26,800 |
