Interim Report 2023

Elma increases order income and net sales and continues transformation process despite lower profitability

CH-Wetzikon, August 15, 2023 – In the first half of 2023, the Elma Group continued its transformation process and significantly increased both order income and net sales. In order to ensure deliveries to serve the high demand for customized system solutions, inventories were deliberately built up and the headcount of new specialists and skills increased. On the other hand, the sharp fluctuations in production volumes due to unreliable supply chains, particularly in the Americas region, had a negative impact on the results.

EBIT include expenses associated with the transformation and related adjustments to the organization and business processes. In order to benefit from the positive market environment, Elma intends to create scalable structures and drive forward the necessary digitalization with a new generation of IT tools (ERP, PDM, CRM). The higher costs associated with these investments led to lower profitability compared with the previous year. While the Europe and Asia regions made positive profit contributions to, the Americas region recorded a loss as a result of the still insufficient supply of important electronic components, higher purchase prices and significantly higher personnel costs. Overall, Elma closes the first half of 2023 with a lower profit compared with the previous year.

  • Elma continues to grow thanks to unabated strong demand for customized system solutions
  • Order income increased by 8.3% to CHF 97.4 million (previous year: CHF 89.9 million); adjusted for currency effects +12.3%
  • Net sales of CHF 79.5 million increased by 6.3% (previous year: CHF 74.7 million); adjusted for currency effects +9.9%
  • EBIT of CHF 0.7 million (previous year: CHF 1.0 million); profit of CHF 0.6 million (previous year: CHF 1.4 million) 
  • Net debts increased by CHF 5 million to CHF 15.6 million (December 31, 2022: CHF 10.6 million)
  • Equity ratio of 47.3% (December 31, 2022: 51.7%

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