Schweiter Technologies: CHF 450 million net profit from disposal of Satisloh
March 06, 2009 | by Schweiter Technologies
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March 06, 2009, Horgen. 2008 saw the order intake from continuing operations drop by 38% to CHF 134.7 million (2007: 218.8). Revenues from continuing operations amounted to CHF 158.1 million, which represents a 27% decline (2007: 217.6).
In the case of both SSM Textile Machinery and Ismeca Semiconductor, the fall was due to industry-specific cyclical factors. However, both divisions reported operating profit at break-even (incl. one-off restructuring expenses totaling CHF 3.4 million in the case of SSM Textile Machinery).
The Group's consolidated operating profit (EBIT) totaled CHF -2.9 million (2007: 13.2). Net income came to CHF 450.7 million (2007: 49.7), including CHF 449 million from the book profit on the disposal of Satisloh.
The Group posted year-end liquidity totaling CHF 596 million on a debt-free balance sheet. The disposal of Satisloh brought the Group gains of some CHF 558 million. The equity ratio stood at 95%.
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Source: Schweiter Technologies, Press release