PRESS RELEASE: Half-year results of Komax Group

Komax Holding AG / Half-year results of Komax Group . Processed and transmitted by Thomson Reuters ONE. The issuer is solely responsible for the content of this announcement.

Successful first half of 2013

Thanks to the continued strong performance of Komax Wire, a stabilization of the situation at Komax Solar, and a sharp improvement in profitability at Komax Medtech, all the key figures of the Komax Group have improved significantly. Order intake rose by 45.2% to CHF 198.2 million, while revenues increased by 17.8% to CHF 167.7 million. EBIT came in at CHF 18.7 million (11.1% of revenues), more than double the prior-year equivalent.

Consolidated revenues of the Komax Group amounted to CHF 167.7 million in the first half of 2013 (previous year: CHF 142.3 million). Of the overall increase of 17.8%, acquisitions accounted for 12.1%, and currency influences 0.6%. Internal growth amounted to 5.1%. Operating profit (EBIT) considerably increased by 114.6% to CHF 18.7 million (previous year: CHF 8.7 million). The EBIT margin came in at 11.1% (previous year: 6.1%). Currency influences here amounted to +0.2 percentage points. Group profit after taxes (EAT) increased to CHF 15.7 million (previous year: CHF 8.7 million).

The Komax Group remains on a very solid financial footing. On the balance sheet date, shareholders' equity amounted to CHF 251.5 million (31. December 2012: CHF 236.1 million), while the equity ratio stood at 69.8% (31. December 2012: 65.7%). Free cash flow came in at CHF 12.0 million (previous year: CHF 17.2 million). Net cash increased to CHF 9.2 million (31. December 2012: CHF 0.9 million).

Another strong performance from Komax Wire

Thanks to an outstanding market positioning globally and healthy end customer markets overall, Komax Wire continues to operate successfully. Sluggish demand from the European automotive industry and its suppliers domiciled in North Africa was more than offset by healthy growth rates in Asia, North America and South America. Furthermore, the remaining end customer markets - such as the domestic appliance, electronics and telecommunication industries - are developing robustly when viewed from a global perspective. The integration of the companies acquired in 2012 is proceeding according to plan. Order intake amounted to CHF 131.9 million (previous year: CHF 106.7 million), or CHF 114.6 million when adjusted for acquisitions. Net sales totalled CHF 126.7 million (previous year: CHF 105.9 million), or CHF 109.5 million when adjusted for acquisitions. Internal growth here amounted to around 3%. EBIT came in at CHF 26.2 million (previous year: CHF 26.6 million). At 20.7%, the EBIT margin broadly mirrored that of the second half of 2012. Five months of the latter period contained the comparatively lower-margin business of TSK Group, which was consolidated for the first time in August 2012.

Stabilization at Komax Solar

The situation at Komax Solar has stabilized at a very low level. Although the crisis gripping the photovoltaics industry is unlikely to ease in the near term, we are assuming that the trough has now been reached. Against this difficult backdrop, Komax Solar succeeded in winning numerous important orders, despite the small number of industry projects put out to tender. It thus managed to consolidate its position as a leading supplier of stringer systems. Order intake increased sharply to CHF 13.7 million (previous year: CHF 4.3 million), while net sales amounted to CHF 11.0 million (previous year: CHF 5.8 million). Thanks to this increase and the sharply reduced cost base, the loss at EBIT level was more than halved to CHF -4.0 million (previous year: CHF -10.2 million).

Significant improvement in result at Komax Medtech

At Komax Medtech, the market situation largely normalized in 2013. Whereas the previous year was dominated by low levels of investment among our clients, a large number of anticipated orders were placed in the period under review. Order intake doubled to CHF 52.7 million (previous year: CHF 25.5 million). At CHF 30.4 million, net sales broadly matched the previous year's equivalent (previous year: CHF 31.0 million). The relatively high proportion of repeat orders, combined with the impact of measures initiated in 2012 to further increase efficiency, led to a significant improvement in the result. EBIT showed an encouraging rise to CHF 0.5 million (previous year: CHF -3.1 million).

Outlook

The fundamental drivers of the businesses of Komax remain intact. The focus of activities therefore lies on implementation of the strategic initiatives designed to boost the profitable growth of Komax Wire and improve the income situation at the other two business units. On the basis of the very pleasing half-year result, the Komax Group will deliver a significantly better result for 2013 than for the previous year.

The end customer markets of Komax Wire remain in robust shape overall. In view of that, and based on all the other data currently available, we are expecting net sales for the second half of 2013 to broadly mirror that achieved in the first half of the year.

The situation of Komax Medtech has improved sharply compared to the previous year. This business unit has entered the second half of 2013 with a strong order book, and the prospects for winning further projects look highly promising. Given these positive parameters, we are expecting an improvement in net sales in the second half of the year compared to the first semester, as well as a further improvement of operating profit.

By contrast, the crisis in the solar industry is unlikely to ease off in the near term. We are therefore anticipating another negative operating result for this business unit in the second half of 2013.

Financial calendar

First information on the year 2013 21 January 2014 Annual media conference/analysts' presentation 2013 26 March 2014 Annual General Meeting 7 May 2014 Half-year results 2014 19 August 2014

For more information, please contact:

Marco Knuchel Phone +41 41 455 06 16 Head Investor Relations/Corporate Communications marco.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, for the production of modules for the photovoltaics market and for systems for the manufacture of self-medication solutions, Komax helps its customers implement economical and safe manufacturing processes, especially in the automotive supply, solar panel and pharmaceutical sectors. The Komax Group employs around 1 350 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 2013 2012 (1) +/- in % TCHF TCHF Revenues (2) 167 666 142 278 17.8 Operating cash flow (EBITD) in % of revenues 23 871 12 521 90.6 14.2 8.8 Operating profit (EBIT) in % of revenues 18 665 8 697 114.6 11.1 6.1 Group profit after taxes (EAT) in % of revenues 15 708 8 740 79.7 9.4 6.1 Free cash flow 12 041 17 169 -29.9

30.6.2013 31.12.2012(1) TCHF TCHF Total assets 360 341 359 533 0.2 Shareholders' equity(3) 251 486 236 111 7.1 in % of total assets 69.8 65.7 Net cash 9 150 938 n.s.

Headcount 1 335 1 330 0.4

Information by segment Wire Solar Medtech First half 2013 TCHF TCHF TCHF Order intake 131 863 13 688 52 673 Net sales 126 651 10 971 30 420 EBIT 26 155 -3 986 517

First half 2012 TCHF TCHF TCHF Order intake 106 662 4 337 25 509 Net sales 105 873 5 781 31 014 EBIT 26 614 -10 192 -3 079

(1) Prior-year figures restated owing to application of IAS 19 (revised).

(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 2013 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/1723693/574528.pdf Media release (PDF): http://hugin.info/100418/R/1723693/574478.pdf Short report (PDF): http://hugin.info/100418/R/1723693/574527.pdf

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Source: Komax Holding AG via Thomson Reuters ONE (MORE TO FOLLOW) Dow Jones Newswires

   August 20, 2013 01:02 ET (05:02 GMT)- - 01 02 AM EDT 08-20-13

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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 20, 2013 01:02 ET (05:02 GMT)- - 01 02 AM EDT 08-20-13