EANS-Adhoc: Mikron Holding AG / Semiannual financial statements 2011

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22.07.2011

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This media release can be downloaded as a PDF file: www.mikron.com/news
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Mikron Group - Media Release

Semiannual financial statements 2011

Striking increase in orders and sales - Currency effects depress results

Biel, 22 July 2011, 7.00 a.m. - Compared to the same period of the
previous year the Mikron Group reported substantially higher order
intake, sales and order backlog in the first half of 2011. The
productivity gains achieved by Mikron in the past twelve months are
also encouraging. After posting a loss in the same period of the
previous year the group thus again reported a positive EBIT figure.
In the absence of the unfavorable currency trend the Mikron Group
would have made considerably greater progress in terms of earnings in
the first half of 2011.

Compared to the same period last year the Mikron Group posted a 16
percent increase in order intake to CHF 127.4 million, a 29 percent
increase in sales to CHF 104.2 million and an increase of 40 percent
in order backlog to CHF 109.8 million. Expressed in customers´ local
currencies, these growth rates were approximately a further 10
percent higher. Both Mikron Machining and Mikron Automation
contributed to the striking growth in volumes. In geographical terms
the rise in the Mikron Group´s order intake was especially strong in
its main market of Europe (+8 percent) and in Switzerland. The
development of the Swiss franc relative to the euro and the US dollar
left clear traces on results. Nevertheless, the Group reported an
increase in EBIT from CHF -0.3 million to CHF 3.9 million and in net
earnings from CHF -2.0 million to CHF 2.6 million.

Mikron Machining Mikron Machining operated in a basically good
business environment in the first half of 2011. Sales markets, which
had already recovered strongly toward the end of 2010, gained further
momentum and the division considerably exceeded expectations by
booking new orders worth CHF 87.4 million (prior year: CHF 58.0
million; +51 percent). Sales revenues were broad-based, reaching a
good overall level of CHF 59.6 million in the first half of 2011
(prior year: CHF 47.0 million; +27 percent). Capacity at Mikron
Machining was very well utilized in the first half of 2011 and was
systematically expanded. The considerable improvement in EBIT to CHF
2.6 million in the first six months of 2011 (prior year: CHF 0.2
million) was in line with expectations. Currency effects had a
negative impact. They were partially offset by improvements in
productivity and stringent cost management.

Mikron Automation The features dominating Mikron Automation´s
business environment in the first half of 2011 were the strong Swiss
franc and differing trends in the individual sales markets. The
expected increase in order intake could not be achieved in these
circumstances. The competitiveness of the division´s principal
location in Switzerland was severely affected in Germany, its main
sales market, by the massive appreciation of the Swiss franc versus
the euro and the US dollar. While investment behavior in the
pharmaceutical and medical industries remained relatively stable
under increased price pressure, the automotive component supply
industry in Europe again invested vigorously in new facilities. Order
intake of CHF 40.3 million in the first six months of 2011 was lower
than the previous year´s good figure (CHF 52.8 million; -24 percent)
and below expectations. Despite the adverse currency impact, sales of
CHF 44.9 million in the first half of 2011 were well ahead of the
figure for the same period of the previous year (CHF 34.5 million;
+30 percent), which had still borne traces of the crisis. EBIT of CHF
0.1 million (prior year: CHF -1.0 million) was well short of
expectations. Mikron Automation was unable to offset in full the
massive and rapid appreciation of the Swiss franc by transferring
purchases into the euro region and taking various steps to cut costs
and enhance efficiency.

Outlook Developments in the second half of 2011 are difficult to
forecast. With net financial assets and an equity ratio of 67.7
percent, Mikron is soundly financed. Despite the currency situation,
the Board of Directors and Group Management are standing by their
target of achieving sales just over CHF 200 million and an EBIT
margin of 3 to 4 percent for the 2011 financial year as a whole.

Key figures of the Mikron Group for the first half of 2011
in CHF million, except equity ratio and number of employees

2011 2010 +/-
restated

Order intake 127.4 110.2 15.6%
- Machining 87.4 58.0 50.7%
- Automation 40.3 52.8 -23.7%
Sales 104.2 81.0 28.6%
- Machining 59.6 47.0 26.8%
- Automation 44.9 34.5 30.1%
Order backlog 109.8 78.3 40.2%
- Machining 67.5 31.4 115.0%
- Automation 42.4 46.9 -9.6%
EBIT 3.9 -0.3
- Machining 2.6 0.2
- Automation 0.1 -1.0
- Corporate 1.2 0.5
Net earnings 2.6 -2.0
Cash flow
- From operating
activities 0.8 -1.5
- Free cash flow -7.1 -1.2
Equity ratio 67.7% 68.2%
Number of employees 938 866 8.3%
- Machining 497 453 9.7%
- Automation 435 406 7.1%

Publication of Semiannual financial statements 2011 The semiannual
financial statements will be published at the same time as this media
release to form the Semiannual Report 2011: www.mikron.com/reports

Investor Relations Calendar

26 January 2012 07.00 a.m. Media release: Volume 2011
12 March 2012 07.00 a.m. Media release: Publication of the
2011 Annual Report
12 March 2012 10.00 a.m. Results press conference:
ConventionPoint, SIX Swiss Exchange,
Zurich
17 April 2012 Annual General Meeting 2012, Biel

Except for the historical information contained herein, the
statements in this media release are forward-looking statements that
involve risks and uncertainties.

Mikron® is a trademark of Mikron Holding AG, Biel (Switzerland)
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Mikron Holding AG
Mühlebrücke 2
CH-2502 Biel
Phone +41 32 321 72 00
Fax +41 32 321 72 01
www.mikron.com

end of ad-hoc-announcement ==========================================
====================================== Brief profile of the Mikron
Group: The Mikron Group operates worldwide as a leading niche
supplier of production and automation solutions for the manufacture
of high-precision products up to hand-size in large quantities. Its
main markets are the automotive component supply industry, the
pharmaceutical and medical industries, the writing instrument
industry, and the electronics and watchmaking industries. Mikron’s
customers benefit from more than 100 years of experience in the
manufacture of customized production solutions. Its powerful and
reliable machines, systems and tools fulfill the highest standards in
terms of precision, economy and flexibility. A comprehensive range of
services rounds off Mikron’s market offering. The Mikron Group’s
operations are divided into the two divisions Mikron Machining and
Mikron Automation. The Group employs a workforce of almost 950, the
majority of them at its two main sites in Agno (Switzerland) and
Boudry (Switzerland). Further manufacturing facilities are located in
Rottweil (Germany), Denver (USA), Singapore and Shanghai (China).

Further inquiry note:
Mikron Management AG, Martin Blom, Chief Financial Officer
Phone +41 62 916 69 60, ir.mma@mikron.com

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end of announcement euro adhoc
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issuer: Mikron Holding AG
Mühlebrücke 2
CH-2502 Biel
phone: +41 32 321 72 00
FAX: +41 32 321 72 01
mail: mho@mikron.com
WWW: www.mikron.com
sector: Machine Manufacturing
ISIN: CH0003390066
indexes: SPI, SPIEX, SPI ex SLI
stockmarkets: Domestic Standard: SIX Swiss Exchange
language: English