Daetwyler reports strong revenue growth

Altdorf, (PresseBox) - The markets relevant for Daetwyler recovered further in 2010. The momentum of the recovery differed depending on the sector or region. Demand was generally higher across all four divisions. At Group level, Daetwyler lifted net revenue year-on-year by 17.6% to CHF 1319.5 million (previous year CHF 1122.2 million). Reichelt Elektronik, which has been consolidated since the start of 2010, contributed CHF 149.4 million or 13.3% to revenue growth. The negative currency effect of presenting consolidated accounts in Swiss francs amounted to CHF 61.4 million or 5.5%. Adjusted for these two factors, organic growth came to 9.8%

The Technical Components Division recorded a 32.3% increase in net revenue to CHF 650.5 million (PY CHF 491.7 million), driven primarily by Reichelt Elektronik, which was acquired at the beginning of 2010. Catalogue distribution for industrial electronics, automation and computer accessories witnessed sound growth in a favourable market environment in Central, Northern and Eastern Europe. The Specialist Distribution business achieved the turnaround in 2010, performing well in what was still a demanding industrial sector.

Consolidation in Swiss francs translated into a modest 0.8% decrease in net revenue to CHF 277.4 million (PY CHF 279.6 million) for the Pharmaceutical Packaging Division. Adjusted for the negative currency effect, organic revenue grew by a solid 7.0%. Demand in the BRIC emerging countries in particular saw significant growth.

The Cables Division posted a 10.0% increase in net sales to CHF 243.6 million (PY CHF 221.4 million). Exchange rate fluctuations had a negative effect on revenue growth, while increases in the price of copper impacted positively. Whereas Germany, Austria, the Benelux countries and, first and foremost, China all experienced substantial rises in demand, the Swiss domestic market registered only moderate growth.

The Rubber Division benefited from the dynamic recovery staged by the automotive industry. Net revenue grew 13.4% to CHF 151.4 million (PY CHF 133.5 million). In the second half in particular, the strong franc severely hampered exports.

The Daetwyler Group enjoyed a sizable year-on-year increase in profitability in 2010 on the back of higher capacity utilisation combined with an optimised cost base. Towards the end of the year under review, the considerable strength of the Swiss franc severely pressured margins in some divisions.

Dätwyler Holding AG

The Daetwyler Group is an international multi-niche player dedicated to industrial supply and distribution of engineering and electronic components. Our activities concentrate on attractive niches that offer opportunities to increase value added and sustain profitable growth. The Group's four divisions - Technical Components, Pharmaceutical Packaging, Cables and Rubber - are focused on the manufacturing, pharmaceutical and datacom industries. Our strategy is built on delivering innovative solutions and positioning ourselves as a competent development partner for our customers. With more than 40 operating companies, sales in over 80 countries and some 4800 employees, the Daetwyler Group generates approximately CHF 1300 million in revenue. Daetwyler has been listed on the SIX Swiss Exchange since 1986 (security number 3048677).

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