Starrag Group reports improved order intake

Rorschacherberg, Switzerland – In the 2013 financial year, the Starrag Group achieved an order intake of CHF 424 million (US$473 million), which represents a substantial 16.5% rise, year-on-year. Organically and adjusted for currency, the increase was 9.2%. Primarily thanks to various large orders and the acquisition of Bumotec in 2012, the group was able to significantly outperform the market, which overall reported negative results. The growth was first and foremost attributed to the aerospace target market, while the industry market remained stable thanks to Bumotec. Transport saw orders decline due to the overall development in the sector in Germany and Asia, while the energy target market remained at its previous low level.

 

In geographical terms, this increase in order intake can be attributed to new customers in Europe. In North America meanwhile, the uncertain economic and political climate meant that orders came in below the levels of the previous year. Asia also saw the Group record fewer new orders than in 2012 due to the lack of investment appetite in China.

 

Sales revenue in 2013 came in at CHF 390 million (US$435 million), which shows a year-on-year increase of 1.6%. Organically and adjusted for currency, this represents a decline of 4.2%. The order backlog went up to CHF 274 million (US$306 million), which is a record figure and 14.6% above 2012 levels. This will of course have a positive effect on future sales revenues, after the corresponding time lag. The book-to-bill ratio (the proportion of order intake/sales) was also highly satisfactory, coming in at 1.09. In terms of overall results, operating profit EBIT should be similar to the previous year's level before restructuring costs are taken into account.

 

The 2013 annual report with the complete financial statement will be published at the media and analysts conference on March 7, 2014 in Zurich.

 

Starrag Group manufactures high-precision machine tools for milling, turning, boring, and grinding of small, medium-sized and larger workpieces of metallic and composite materials and offers maintenance services to enhance customer productivity.

 

Starrag Group products are marketed under the following brands: Berthiez, Bumotec, Dörries, Droop+Rein, Heckert, Scharmann, SIP, Starrag, TTL, and WMW. 

 

Source: Starrag Group