Press Release: Half-year results of Komax Group -2-

Komax Holding AG / Half-year results of Komax Group . Processed and transmitted by Nasdaq OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement.

Strong first half for 2014

The Komax Group once again generated strong results in the first half of 2014. Consolidated revenues, adjusted for Komax Solar, rose by 8.6% to CHF 171.6 million. Operating income (EBIT) from continuing operations stood at CHF 22.5 million (previous year: CHF 22.7 million). Group profit after taxes from continuing operations increased by 6.7% to CHF 21.0 million. Komax is once again anticipating solid results for the 2014 financial year.

In the first half of 2014, the Komax Group achieved an order intake of CHF 176.2 million (previous year: CHF 184.5 million). Comparable consolidated revenues rose to CHF 171.6 million (previous year: CHF 157.9 million). Of the overall increase of 8.6%, acquisitions accounted for 4.7%, and currency effects for -2.0%. Internal growth was 5.9%. Operating profit (EBIT) from continuing operations reached CHF 22.5 million (previous year: CHF 22.7 million). The EBIT margin came in at 13.1%. Group profit after taxes (EAT) fell to CHF 8.3 million (previous year: CHF 15.7 million) due to one-time, mainly non-cash expenditures of around CHF 8 million in connection with the Group's withdrawal from the solar business.

The Komax Group stands on a very firm financial foundation. As at 30 June 2014, shareholders' equity totalled CHF 261.8 million (31.12.2013: CHF 264.0 million) for an equity ratio of 71.9%. Free cash flow came in at CHF 10.0 million (previous year: CHF 12.0 million) and net cash amounted to CHF 20.8 million (31.12.2013: CHF 22.6 million).

Komax Wire still strong

The demand for automation solutions in the markets served by Komax Wire remained as strong as ever in the first half of 2014. Its key market - the automotive industry - in particular remained in very good shape. Komax Wire also benefited from the ever strengthening trend towards further automation in the field of wire processing. Another positive area was the growth in sales of testing systems by the TSK Group. The collaboration with SLE quality engineering, a majority share of which was acquired as of 1 January 2014, is progressing well and in line with expectations.

In the first half of 2014, we were able to further boost sales in the booming Asia region. The European and African regions also saw high growth within the context of a slowly emerging recovery. However, the North/South America region has thus far not been able to build on the strong performance of the previous year.

In the first half of this year, order intake reached CHF 144.6 million (previous year: CHF 131.9 million) and net sales rose to CHF 139.9 million (previous year: CHF 127.7 million). Internal growth in net sales amounted to more than 6%. EBIT came in at CHF 26.7 million (previous year: CHF 26.1 million). Despite the first-time consolidation of SLE quality engineering, the EBIT margin came to a pleasing 19.1%.

Komax Medtech net sales and EBIT match previous year's level

After a strong start at the beginning of the year, business at Komax Medtech tailed off towards the end of the first half: announced capacity expansion plans relating to the assembly of medical products were increasingly delayed. Starting in the second quarter of 2014, order intake at the La Chaux-de-Fonds site took an unsatisfactory turn which could not be offset by the robust performances of the US and Malaysian sites.

Order intake came in at CHF 31.6 million (previous year: CHF 52.7 million) and net sales amounted to CHF 31.9 million (previous year: CHF 30.4 million). Despite the relatively low capacity utilization at La Chaux-de-Fonds, Komax Medtech achieved an EBIT of CHF 0.3 million (previous year: CHF 0.5 million).

Management buyout for Komax Solar

In the second half of 2014, the Komax Solar business will be sold to the Komax Solar management team within the context of a management buyout (MBO). The MBO will be structured as an asset deal. Komax will hold a minority interest in the new company. Consequently, the Komax Solar disclosures in the half-year financial statements are being included in summary form below EBIT as "result from discontinued operations" in accordance with IFRS 5. The previous year's figures have been revised accordingly.

The "result from discontinued operations" came to CHF -12.7 million for the first half of 2014 (previous year: CHF -4.0 million). This primarily includes non-cash expenditures for value adjustments for technology, goodwill and current assets in the order of CHF 8 million.

Outlook

For Komax Wire we are not expecting any substantial changes to the market environment in the second half, and are thus anticipating continued strong performance. On the basis of the information currently available, we are expecting net sales in the second half of 2014 to be broadly on a par with the first half.

However, the economic climate for Komax Medtech has taken a turn for the worse. The business unit's success in 2014 now depends substantially on more orders being booked in La Chaux-de-Fonds.

The Group's solar activities will be taken over by the present management team in the second half of the year. Until the definitive handover of the solar business, we are expecting a further negative contribution to the results in the second half.

Financial calendar First information on the year 2014 20 January 2015 Annual media conference/analysts' presentation 24 March 2015 Annual General Meeting 8 May 2015 Half-year results 2015 18 August 2015

For more information, please contact: Marco Knuchel Phone +41 41 455 06 16 Head Investor Relations / Corporate Communications marco.knuchel@komaxgroup.com http://www.komaxgroup.com%09marco.knuchel@komaxgroup.com

The Komax Group is a global 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 and systems for the manufacture of self-medication solutions, Komax helps its customers implement economical and safe manufacturing processes, especially in the automotive supply and pharmaceutical sectors. The Komax Group employs around 1 500 people worldwide and provides sales and service support via subsidiaries and independent agents in around 60 countries.

Appendix

Key figures of the Komax Group

First half First half 2014 2013(1) +/- in % TCHF TCHF Order intake 176 186 184 536 -4.5 Revenues(2) 171 573 157 917 8.6 Operating cash flow (EBITD) in % of revenues 27 291 27 227 0.2 15.9 17.2 Operating profit (EBIT) in % of revenues 22 539 22 696 -0.7 13.1 14.4 Group profit after taxes from continued operations in % of revenues 20 982 12.2 19 665 12.5 6.7 Result from discontinued operations -12 728 -3 957 221.7 Group profit after taxes (EAT) in % of revenues 8 254 15 708 -47.5 4.8 9.9 Free cash flow 10 023 12 041 -16.8

30.6.2014 31.12.2013 Total assets 363 913 357 591 1.8 Shareholders' equity(3) 261 793 263 985 -0.8 in % of total assets 71.9 73.8 Net cash 20 768 22 616 -8.2

Headcount 1 493 1 381 8.1

Information by segment Wire Medtech First half 2014 TCHF TCHF Order intake 144 560 31 626 Net sales 139 916 31 925 EBIT 26 737 263 First half 2013(1) Order intake 131 863 52 673 Net sales 127 650 30 420 EBIT 26 141 517

(1) Prior-year figures of income statement restated owing to application of IFRS 5.

(2) Revenues: Net sales + other operating income.

(3) Equity attributable to equity holders of the parent company.

You can obtain further information on our website www.komaxgroup.com.

The complete Half-Year Report 2014 can be downloaded at:

http://www.komaxgroup.com/en/Investors/Reports-and-presentations/Financial-reports/

The media release can be downloaded from the following link:

Report (PDF): http://hugin.info/100418/R/1849597/645649.pdf Short report (PDF): http://hugin.info/100418/R/1849597/645648.pdf Media release (PDF): http://hugin.info/100418/R/1849597/645647.pdf

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   August 19, 2014 01:00 ET (05:00 GMT)- - 01 00 AM EDT 08-19-14

-2 of 2- 19 Aug 2014 05:00:00 UTC  Press Release: Half-year results of Komax Group -2-
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Source: Komax Holding AG via Globenewswire

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Komax Holding AG

Industriestrasse 6 Dierikon-LU Switzerland

WKN: 1070215 ;ISIN: CH0010702154;

http://www.komax.ch (END) Dow Jones Newswires

   August 19, 2014 01:00 ET (05:00 GMT)- - 01 00 AM EDT 08-19-14