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Oerlikon textile biz receives higher orders in Q2
25 Aug '09
6 min read
Oerlikon Drive Systems saw the down-trend of the first quarter continue. Sales for the first six months of 2009 dropped 40 percent to CHF 377 million and incoming orders declined by 56 percent to CHF 277 million. EBIT totaled CHF -20 million (1HY 2008: CHF 39 million). The segment took appropriate cost-saving and restructuring measures and started new product initiatives in response to the challenging market environment.
Oerlikon Coating achieved a break-even result before restructuring (CHF 5 million) in the first half year of 2009 thanks to early and rigorous cost management which led to a trend reversal in earnings and an improvement of EBIT in the second quarter of 2009. Sales were down 41 percent to CHF 158 million due to extraordinarily weak demand from both the tooling and the automotive markets. EBIT stood at CHF -6 million.
Oerlikon Solar regained momentum with a new large 120 MW order for a micromorph thin film end-to-end production line from Nano Solar Technology (NST), a newly-formed Russian high-tech firm which is a joint venture between Renova Group and the Russian Corporation of Nanotechnologies (Rusnano). This is the largest order in the thin film industry in 2009 so far.Together with the expansion of an existing project of Greece-based customer HelioSphera in the second quarter of 2009, Oerlikon Solar posted a 34 percent increase in sales to CHF 286 million.
Orders received increased by 10 percent to CHF 497 million. A follow up order from Taiwanese CMC SunWell received in 2008 was eliminated from the Orders on hand. Orders on hand stood at CHF 466 million. Ongoing significant expenditures in R&D and customer service impacted earnings, so EBIT before restructuring costs only came to CHF 9 million, with an EBIT of CHF 0. Solar is on track to extend its leading market position in 2009.
Oerlikon Vacuum saw its sales decline by 38 percent to CHF 149 million and its orders received dropped by 43 percent to CHF 145 million. Thanks to effective contingency measures undertaken since the end of 2008, the overall result for the first six months of 2009 showed a positive EBIT of CHF 2 million.
The Advanced Technologies segment was significantly restructured and reshaped during the first half-year 2009. The business units Oerlikon Space, Esec and Optics were divested and other parts of Oerlikon Systems were sold (wafer etch operations in St. Petersburg, U.S.). The residual parts of Oerlikon Systems continued to suffer from a weak semiconductor market resulting in a sales decline of Advanced Technologies by 59 percent to CHF 28 million. Orders received amounted to CHF 32 million (-64 percent), while EBIT stood at CHF -12 million (1HY 2008: CHF -68 million, including CHF 50 million goodwill write-offs).
Accelerating restructuring Measures aimed at reducing costs were accelerated and expanded .. Click here for more detials.
Oerlikon Coating achieved a break-even result before restructuring (CHF 5 million) in the first half year of 2009 thanks to early and rigorous cost management which led to a trend reversal in earnings and an improvement of EBIT in the second quarter of 2009. Sales were down 41 percent to CHF 158 million due to extraordinarily weak demand from both the tooling and the automotive markets. EBIT stood at CHF -6 million.
Oerlikon Solar regained momentum with a new large 120 MW order for a micromorph thin film end-to-end production line from Nano Solar Technology (NST), a newly-formed Russian high-tech firm which is a joint venture between Renova Group and the Russian Corporation of Nanotechnologies (Rusnano). This is the largest order in the thin film industry in 2009 so far.Together with the expansion of an existing project of Greece-based customer HelioSphera in the second quarter of 2009, Oerlikon Solar posted a 34 percent increase in sales to CHF 286 million.
Orders received increased by 10 percent to CHF 497 million. A follow up order from Taiwanese CMC SunWell received in 2008 was eliminated from the Orders on hand. Orders on hand stood at CHF 466 million. Ongoing significant expenditures in R&D and customer service impacted earnings, so EBIT before restructuring costs only came to CHF 9 million, with an EBIT of CHF 0. Solar is on track to extend its leading market position in 2009.
Oerlikon Vacuum saw its sales decline by 38 percent to CHF 149 million and its orders received dropped by 43 percent to CHF 145 million. Thanks to effective contingency measures undertaken since the end of 2008, the overall result for the first six months of 2009 showed a positive EBIT of CHF 2 million.
The Advanced Technologies segment was significantly restructured and reshaped during the first half-year 2009. The business units Oerlikon Space, Esec and Optics were divested and other parts of Oerlikon Systems were sold (wafer etch operations in St. Petersburg, U.S.). The residual parts of Oerlikon Systems continued to suffer from a weak semiconductor market resulting in a sales decline of Advanced Technologies by 59 percent to CHF 28 million. Orders received amounted to CHF 32 million (-64 percent), while EBIT stood at CHF -12 million (1HY 2008: CHF -68 million, including CHF 50 million goodwill write-offs).
Accelerating restructuring Measures aimed at reducing costs were accelerated and expanded .. Click here for more detials.
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