HUBER+SUHNER: Lower 2019 sales due to decreased volumes with 4G projects – Industrial market and strategic growth initiatives increase Donnerstag, 23. Januar 2020 - 06:50
23/01/2020 06:45:00
In the 2019 fiscal year, HUBER+SUHNER was not quite able to
match the very strong performance of the previous year. The decline in
order intake and net sales compared with the previous year was already
originating in the first half of the year and, as already reported, is
attributable to two factors: A major 4G project that is coming to an end
as expected, and the weaker railway market in China. By contrast, order
intake and sales increased in the rest of the business, particularly
the strategic growth initiatives.
Net sales in 2019 amounted to
CHF 830.6 million (unaudited), down 6.1 % on the previous year. In
organic terms, i.e. taking currency, copper price, and portfolio effects
into account, the decline was 4.6 %. Order intake of CHF 800.9 million
was down 12.5 % on the previous year.
In the communication
market, the expiration of the large-scale infrastructure project to
upgrade mobile communications networks to the 4G/LTE standard in India
led to a significant drop in sales, while the level overall in the other
communication submarkets could be maintained.
Due to the lower
momentum in the Chinese railway market, sales in the transportation
market declined compared with the very strong previous year, whereas the
automotive submarket remained virtually unchanged from the previous
year.
The industrial market grew across a broad front again and significantly exceeded the already high levels of the previous year.
The detailed business results will be presented at the media and analyst’ conference on 10 March 2020.
The German version is binding.
Alternative Performance Measures
HUBER+SUHNER
uses alternative performance measures as guidance parameters for both
internal and external reporting to stakeholders. This media release
contains the financial figure “organic sales development”, which is not
defined under Swiss GAAP FER. HUBER+SUHNER uses the following
definition, which may differ from the one other companies use: The
organic sales development is calculated by adjusting the reported net
sales for the impact of currency effects, copper price effects as well
as portfolio effects (acquisitions and disposals). When determining the
currency effects, the functional currency that is valid in the
respective country is used.
Patrick G. Koeppe
Head Corporate Communications
+41 44 952 25 60
pressoffice@hubersuhner.com