Daetwyler reports stronger second half of 2009
The individual Group Divisions present considerable differences in their development:
Depending on the region, the Cables Division registered varying market developments: While demand in Eastern and Southern Europe as well as in the Middle East dropped considerably, the primary markets of Switzerland and Germany as well as China showed robust activity. Overall, the Cables Division net revenue declined by 19.0% to CHF 221.4 million (PY CHF 273.3 million); based on the previous period's copper prices the decline amounted to 14.8%.
The Rubber Division in the first half of the year suffered due to the fall in demand from the automotive industry. Net revenue declined by 19.5% to CHF 124.7 million (PY CHF 154.9 million); this could only be partly compensated by the major order for packaging gaskets from the consumer goods industry. Demand from the automotive industry clearly recovered in the second half of the year.
The Pharmaceutical Packaging Division proved to be a recessionproof foothold. With just a slight drop by 1.3% to CHF 279.6 million (PY CHF 283.2 million), net revenue remained almost at previous year level. Adjusted for exchange rates, a slight growth of 2.5% was generated.
The Technical Components Division recorded a downturn in demand by 16.0% to CHF 491.7 million (PY CHF 585.3 million). The ELFA Group in 2009 was for he first time consolidated for twelve months (PY eight months). The Specialist Distribution business (Maagtechnic), depending mostly on the export oriented machine industry in Switzerland and Germany, was affected disproportionally by the crises. The Mail Order Distribution business (Distrelec / ELFA) was confronted in particular by strongly decreasing demand in Eastern Europe.
Encouragingly, the cost reduction measures took effect already in the second half of 2009. Consequently, the operating performance of the Daetwyler Group - before restructuring costs - for the entire year will be higher than in the first half of the year.
Dätwyler Holding AG
The Daetwyler Group is an international multiniche player dedicated to supplying and distributing engineering and electronic components to industry. In its activities, the Group focuses on attractive markets and niches that offer opportunities to increase value added and sustain profitable growth. Daetwyler's four divisions - Cables, Rubber, Pharmaceutical Packaging and Technical Components - 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 4,500 employees, Daetwyler generates approximately CHF 1,200 million in revenue. The Group has been listed on the main board of the SIX Swiss Exchange since 1986 (security number 3048677).