22.11.2024 06:45:16
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The Komax Group is making good progress in the implementation of its strategy
KOMAX Holding AG / Key word(s): Change in Forecast/Conference Dierikon, 22 November 2024 Media release Investor Day of the Komax Group In September 2023 the Komax Group announced its new strategy and its mid-term targets for 2028. Since then, it has made good progress in the implementation of its strategy. It has strengthened its position in China, expanded its service business, and optimized its distribution network, location structure, and product portfolio, thus reducing costs over the long term. Given that the market environment has been very challenging over the past twelve months, and that the expected annual growth of 6–9% is currently out of reach, the Komax Group is deferring its mid-term targets by two years. It is therefore now aiming to generate revenues of CHF 1.0 to 1.2 billion and an operating profit (EBIT) of CHF 120 to 160 million in 2030. The Komax Group continues to face a challenging market situation. In Europe especially, customers are still reluctant to make investments. However, this appears to have reached its low point in the first half of the year. Every month since July, order intake has been higher than in the best month of the first half. The Komax Group therefore assumes that it will achieve its forecast result for 2024 (20% lower revenues compared with 2023). Thanks to numerous measures to systematically reduce costs, it is still expecting slightly positive EBIT for the 2024 financial year, despite restructuring costs of around CHF 10 million and negative foreign currency effects. Strengthening of market position in China Consistent optimization of location structures
Change to the Executive Committee Improved position and significantly lower cost base Contact Komax is a globally active technology company that focuses on markets in the automation sector. As a leading manufacturer of innovative and high-quality solutions for the wire processing industry, the Komax Group helps its customers implement economical and safe manufacturing processes, especially in the automotive supply sector. The Komax Group employs more than 3400 employees worldwide and provides sales and service support via subsidiaries and independent agents in more than 60 countries. Komax Stories Komax Holding AG, Industriestrasse 6, 6036 Dierikon, Switzerland End of Inside Information |
Language: | English |
Company: | KOMAX Holding AG |
Industriestrasse 6 | |
6036 Dierikon | |
Switzerland | |
ISIN: | CH0010702154 |
Valor: | 907324 |
Listed: | SIX Swiss Exchange |
EQS News ID: | 2036115 |
End of Announcement | EQS News Service |
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2036115 22-Nov-2024 CET/CEST
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