|
SIGNIFICANT IMPROVEMENT IN FIRST SEMESTER
19 November 2004 - Carlo Gavazzi
| In the first six months of the current period, ended September 30, 2004, the Zug based electronics group improved its financial results significantly thanks to continued efficiency improvements. |
In the first six months of the current period, ended September 30, 2004, the Zug based electronics group improved its financial results significantly thanks to continued efficiency improvements. EBIT rose by 73% from CHF 2.2 million to CHF 3.8 million and net income almost quintupled from CHF 0.5 million to CHF 2.4 million. Bookings rose to CHF 103.4 million and operating revenue increased to 99.2 million (previous year CHF 98.4 million). Compared with the same period of the previous year and on a currency neutral basis, these increases corresponded to 6.9% and 3.0%, respectively. Net interest-bearing debt was reduced by 20% from CHF 17.4 million at the end of March 2004 to CHF 13.9 million at the end of the reporting period and shareholders' equity increased to reach CHF 97.9 million or 56% of total assets. Despite the difficulty in forecasting future economic developments, management is confident that operating revenue and profitability for the second half-year will slightly exceed the levels of the reporting period.
http://www.carlogavazzi.com
About: Carlo Gavazzi
Carlo Gavazzi is a diversified, internationally active electronics group designing, manufacturing and marketing electronic equipment targeted at the global markets of industrial automation and information processing.Under the umbrella of a holding company, headquartered in Switzerland, Carlo Gavazzi is organised in two business units. It is the function of the holding company to ensure planning and development of the group's business portfolio, to choose a coherent set of strategies and objectives, to monitor their implementation and the efficiency of the corresponding management tools and processes, to select the upper-level management, to manage corporate finance, controlling, tax planning, management information systems, communication and investor relations. The business units operate separately within the framework of defined strategies and objectives; they are responsible for research and development, manufacturing, quality, marketing and sales, human resources, logistics, finance and control. Group executives lead their business units in line with the holding's objectives as businessmen with strong entrepreneurial drive and responsibility. Objectives. To provide our customers with technologically innovative, high quality and competitive solutions, in compliance with their requirements and expectations. To create an environment conducive to our employees' professional and personal development. To obtain a fair and equitable return for our shareholders through sustained development of our core activities. Principles. To create added value for our customers with our products and services in order to strengthen their market positions and establishing long-term partnerships. To adapt structures and processes to market needs and delegate responsibility. To promote an environment conducive to mutual respect and cooperation. To mark clear leadership and integrity by doing what we say. |
More News:
• For November 2004
• From Carlo Gavazzi
• For Control Products
|
