annual report 2013/14 - .annual report 2013/14 ... infranor group annual report 2013/2014 profile

Download Annual Report 2013/14 - .Annual Report 2013/14 ... Infranor Group Annual Report 2013/2014 Profile

Post on 01-Mar-2019

220 views

Category:

Documents

0 download

Embed Size (px)

TRANSCRIPT

Annual Report 2013/14

Responsible for Investor Relations:Nicolas EichenbergerChairman of the Board of Directors

Tel +41 (0)22 776 61 44

nicolas.eichenberger@infranor.com

Infranor Inter Ltd.Glattalstrasse 37CH-8052 Zurich

Tel +41 (0)44 307 45 00

www.infranor.com

00_INF_2014 Umschlag EN.indd 1 25.07.2014 09:47:49

Responsible for Investor Relations:Nicolas EichenbergerChairman of the Board of Directors

Tel +41 (0)22 776 61 44Fax +41 (0)22 776 19 17

nicolas.eichenberger@infranor.com

Infranor Inter Ltd.Glattalstrasse 37CH-8052 Zurich

Tel +41 (0)44 307 45 00Fax +41 (0)24 447 02 71

www.infranor.com

00_INF_2014 Umschlag EN.indd 2 25.07.2014 09:47:49

Contents

2 Key figures for the Infranor Group

3 Securities of Infranor Inter Ltd.

4 Profile

6 The Financial Year 2013/2014

9 Infranor Division

11 Cybelec Division

13 Corporate Governance

25 Financial Report of the Infranor Group

47 Financial Report of Infranor Inter Ltd.

58 Addresses

01_INF_2014_Berichtsteil_NEU_EN.indd 1 25.07.2014 09:52:19

2

Key Figures

Infranor Group

1,000 CHF 09/10 10/11 11/12 12/13 13/14

Sales 39,041 49,260 46,399 42,705 43,222

Change versus previous year as % 27.8 26.2 5.8 8.0 1.2

Gross profit as % of sales 61.3 58.7 56.5 58.8 57.1

EBIT 1,962 4,875 3,391 2,910 2,553

Change versus previous year as % 123.8 148.5 30.4 14.2 12.3

as % of sales 5.0 9.9 7.3 6.8 5.9

Net profit/(loss) 148 1,873 1,112 1,221 1,008

Change versus previous year as % 98.4 n.a. 40.6 9.8 17.4

Return on sales as % 0.4 3.8 2.4 2.9 2.3

Cash flow from operating activities 2,489 3,375 2,790 3,254 2,047

Change versus previous year as % n.a. n.a. 17.3 16.6 37.1

as % of sales 6.4 6.9 6.0 7.6 4.7

Total assets 34,850 34,530 30,685 30,306 29,117

Shareholders equity 2,262 3,112 3,438 4,452 4,945

Equity ratio (%) 6.5 9.0 11.2 14.7 17.0

Return on equity (%) 5.7 69.7 34.0 31.0 21.5

Average number of employees 179 208 207 208 217

Infranor Group Annual Report 2013/2014

01_INF_2014_Berichtsteil_NEU_EN.indd 2 25.07.2014 09:52:19

3Infranor Group Annual Report 2013/2014

Infranor Inter Securities

Key stock figures

09/10 10/11 11/12 12/13 13/14

Number of bearer shares as at 30.4. 776,996 776,996 776,996 776,996 776,996

Share capital as at 30.4. million CHF 15.5 15.5 15.5 15.5 15.5

Dividend per bearer share CHF 0.00 0.50 0.50 0.50 0.50

Payout ratio % 0,0 20.4 34.4 31.4 38.0

Consolidated EBIT per share CHF 2.56 6.37 4.43 3.80 3.33

Consolidated earnings per share CHF n.a 2.45 1.45 1.59 1.32

Consolidated equity per share CHF 2.91 4.01 4.42 5.73 6.36

P/E ratio 117.4 10.8 16.2 12.4 13.3

Stock prices

CHF 09/10 10/11 11/12 12/13 13/14

High 33.00 28.00 29.90 25.00 19.75

Low 19.10 19.20 15.00 16.00 15.00

As at 30.4. 22.70 26.45 23.55 19.75 17.55

Market capitalisation

Million CHF 09/10 10/11 11/12 12/13 13/14

As at 30.4. 17.6 20.6 18.3 15.3 13.6

Key figures convertible bond

09/10 10/11 11/12 12/13 13/14

Number of bonds at year-end 435,930 435,930 435,930 435,930 435,930

Number of bonds converted

in the course of the year 0 0 0 0 0

Prices

High in % 101.25 107.00 104.00 103.50 103.50

Low in % 99.50 100.00 103.00 103.00 102.00

As at 30.4. in % 100.00 104.00 103.50 103.50 103.00

Infranor Group

1,000 CHF 09/10 10/11 11/12 12/13 13/14

Sales 39,041 49,260 46,399 42,705 43,222

Change versus previous year as % 27.8 26.2 5.8 8.0 1.2

Gross profit as % of sales 61.3 58.7 56.5 58.8 57.1

EBIT 1,962 4,875 3,391 2,910 2,553

Change versus previous year as % 123.8 148.5 30.4 14.2 12.3

as % of sales 5.0 9.9 7.3 6.8 5.9

Net profit/(loss) 148 1,873 1,112 1,221 1,008

Change versus previous year as % 98.4 n.a. 40.6 9.8 17.4

Return on sales as % 0.4 3.8 2.4 2.9 2.3

Cash flow from operating activities 2,489 3,375 2,790 3,254 2,047

Change versus previous year as % n.a. n.a. 17.3 16.6 37.1

as % of sales 6.4 6.9 6.0 7.6 4.7

Total assets 34,850 34,530 30,685 30,306 29,117

Shareholders equity 2,262 3,112 3,438 4,452 4,945

Equity ratio (%) 6.5 9.0 11.2 14.7 17.0

Return on equity (%) 5.7 69.7 34.0 31.0 21.5

Average number of employees 179 208 207 208 217

01_INF_2014_Berichtsteil_NEU_EN.indd 3 25.07.2014 09:52:20

4

Activities

Infranor, which was established in 1941, has fo-cused its activities on the automation of mechan-ical processes in industry since 1959.

Infranor automation solutions provide quick, precise individual movements in machines and overall control of machinery, systems and equip-ment used in industrial manufacturing, the packaging industry, industrial handling, the pro-cess industries for food, chemicals, pharmaceu-ticals and textiles, plastic and paper processing as well as in medical and nuclear engineering. Thanks to a wide range of experience in many different application areas, Infranor is also in a position to take on markets with new demands at any time. Infranor sells automation solutions ranging from individual components to entire systems that have been developed and adapted in accordance with customer requirements. In these applications, Infranor mainly uses its own servo motors, electronic systems, controllers and software. These components drive, regulate and control movements, coordinate multiple axes and control entire machines.

Infranors target is to achieve a high level of value creation by providing applications in for-ward-looking niche markets that require exten-sive know-how, excellent engineering skills and flexibility for product adaptations.

Core competence

Infranors core competence is in intelligent me-chatronics: electronic signals are converted into controlled movements, and the interaction thereof is then coordinated in programmable systems. Infranor combines the synergies of dif-ferent engineering disciplines with this mecha-tronic approach. This core competence applies to all of the Infranor Groups activities.

Infranor Division

The Infranor Division forms a worldwide net-work of independent operational units that pro-vide customer-specific optimised industrial au-tomation solutions. Each local company has autonomous, extensive problem-solving exper-tise in the use of individual components and combinations thereof and for creating entire sys-tems. The scope of its work includes engineer-ing, the sale of Infranor products and comple-mentary products and service.

Infranor development and production units pro-vide sophisticated, self-developed base products that can be adapted to customer requirements.Their components can be systematically com-bined with other Infranor products. With their know-how, they represent a source of important technical support for the engineering activity.

Infranor added value with controlled motion

Infranor Group Annual Report 2013/2014

Profile

01_INF_2014_Berichtsteil_NEU_EN.indd 4 25.07.2014 09:52:20

5

Cybelec Division

The Cybelec Division is a world market leader for the continuous automation of bending presses based on numeric controllers. Cybelec has acquired this position by means of a range of products that covers all aspects of bending presses. Cybelec is a leader in every product category from entry level to mid range and the high end.

To its customers, Cybelec is a full-range provider of everything that has to do with bending presses, with electric drives and electronics. Since 2006, Cybelec also provides machine con-trollers for the machine-tool industry under the brand name FASTware.

Markets

The Infranor Group supplies manufacturers of all kinds of production materials. The compa-nys main sales territories are the three primary geographical markets for automation: Europe (incl. Middle-East), Asia and North America. The total volume of these markets for servo mo-tors, drivers, regulators, controllers and elec-tronic system components is several billion Swiss francs. The activities of the Infranor Group in the automotion market are concentrated on niches in which it works out optimum solutions in close technical collaboration with customers.

Strategy

Both divisions address their customers directly and specifically via the Internet and technical exhibitions. Synergies between the two divisions are actively exploited.

The Infranor Division operates as an industry independent specialist for automation solutions. Servo motors with intelligent drives and super-visory controllers from our own development and production are the main products being used.

The Cybelec Division operates as an industry re-lated full-range supplier that employs non-Infra-nor sales channels.

Both divisions aim to achieve growth that is or-ganic and also possibly through acquisitions (should the opportunity arise). The main focus of the Infranor Division is on increasing its mar-ket share by means of new products and special application solutions. The division increases its market presence be reinforcing existing sales structures and making fill-in acquisitions wher-ever possible. Geographical expanding is also a possibility. As well as increasing its share of the market, the Cybelec Division seeks to expand in-side and outside the s

Recommended

View more >