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2015-08-18

Komax Holding AG: Media release - half-year results of Komax Group

Komax Holding AG / Media release - half-year results of Komax Group. Processed
and transmitted by NASDAQ OMX Corporate Solutions. The issuer is solely
responsible for the content of this announcement.
Good first-half results

The Komax Group generated another set of good results in the first half of
2015. Consolidated sales grew by 2.0% to CHF 175.0 million. Operating profit
(EBIT) came to CHF 21.4 million (previous year: CHF 22.5 million) and Group
profit after taxes rose by 43.4% to CHF 11.8 million. Another good result is
expected for the 2015 financial year.

In the first half of 2015, the Komax Group achieved an order intake of CHF
193.9 million (previous year: CHF 176.2 million). Consolidated revenues
increased by 2.0% to CHF 175.0 million (previous year: CHF 171.6 million).
Internal growth was 4.7% and the currency impact amounted to -2.7%. Operating
profit (EBIT) came to CHF 21.4 million (previous year: CHF 22.5 million). The
EBIT margin was 12.3%. The currency effect here was -1.9 percentage points.
The removal of the cap on the minimum euro-franc exchange rate also left its
mark on the financial result, with one-off, non-cash currency losses on loans
pushing financial expenses to CHF 6.2 million (previous year: CHF 1.0
million). Since the result from discontinued operations was significantly
better than in the previous year, Group profit after taxes (EAT) nevertheless
went up by more than 43% to CHF 11.8 million (previous year: CHF 8.3
million).

The Komax Group stands on a very firm financial footing. As at 30 June 2015,
shareholders' equity totalled CHF 268.1 million (31 December 2014: CHF 284.2
million). Accordingly, the equity ratio amounted to 70.7%. Free cash flow
stood at CHF 8.8 million (previous year: CHF 10.0 million), while net cash
was CHF 16.2 million (31 December 2014: CHF 29.2 million).

Komax Wire

In the first six months, Komax Wire benefited from the continuing good demand
for automation solutions, which was buoyed by the healthy state of the
automotive industry and the trend to drive forward the automation of wire
harness production. Global presence, good connections with all leading wire
harness manufacturers around the world and good access to local customers
also contributed to this success, more than compensating for fluctuations
related to the investment cycle. Broad geographical diversification also
helped make up for volatile demand in the individual regions and lessen the
pressure caused by the strength of the Swiss franc.

In the first half of 2015, the Europe and Africa regions achieved growth in
the course of further signs of recovery. Business development in North
America was particularly pleasing, too. By contrast, Asia was temporarily
unable to match the previous year's results. The Swiss sites also turned in
an impressive performance, further improving their already excellent results
thanks to economies of scale and the successful implementation of efficiency
enhancement programmes. SLE quality engineering is making very gratifying
progress, and in partnership with Laselec there are interesting,
forward-looking projects underway.

In the first half of 2015, order intake reached CHF 165.5 million (previous
year: CHF 144.6 million), while net sales increased by 5.0% to CHF 146.9
million (previous year: CHF 139.9 million). Internal growth amounted to
around 10% and the book-to-bill ratio was 1.13. EBIT increased by 4.7% to CHF
28.0 million (previous year: CHF 26.7 million).

Komax Medtech

After a rocky start to the year, order intake at Komax Medtech picked up
significantly during the second quarter. Nevertheless, the volatile nature of
the order intake and the resulting imbalance in capacity utilization weighed
on the results. In addition, the factory at La Chaux-de-Fonds was hit by the
strength of the Swiss franc, which has put the site at a competitive
disadvantage compared with its foreign competitors. The restructuring
announced in March in response to these new circumstances has now been
completed. However, it will not start to pay off until 2016.

Order intake amounted to CHF 28.4 million (previous year: CHF 31.6 million),
while net sales came in at CHF 28.1 million (previous year: CHF 31.9
million). EBIT declined to CHF -1.8 million (previous year: CHF 0.3 million).

Outlook

We find ourselves in a volatile and uncertain environment. However, the Komax
Group is well prepared to deal with this situation thanks to its innovative
strength and pronounced customer focus. Nevertheless, the strength of the
Swiss franc presents a challenge. We believe we can largely offset the
negative effects in the medium term by intensifying the measures aimed at
further increasing productivity and efficiency. We will continue to seize any
opportunities to further the company's development.

From today's standpoint, we envisage another good result for the Komax Group
in 2015.

For Komax Wire, we are not expecting any substantial changes to the market
environment in the second half, and are thus anticipating continued strong
performance.

At Komax Medtech, we are expecting a higher order intake and improved results
in the second half of the year.

The evaluation of the strategic options open to the Komax Group that was
announced in March is progressing on schedule.

Financial calendar

--------------------------------------------------------------------------------------------------
| First information on the year 2015 19 January 2016 |
| Annual media conference / analysts' presentation of 2015 financial statements 22 March 2016 |
| Annual General Meeting 12 May 2016 |
| Half-year results 2016 23 August 2016 |
--------------------------------------------------------------------------------------------------
For further information, please contact:

------------------------------------------------------------------------------------
| Marco Knuchel Phone +41 41 455 06 16 |
| Head Investor Relations / Corporate Communications marco.knuchel@komaxgroup.com |
------------------------------------------------------------------------------------
The Komax Group is a global technology company that focuses on markets in the
automation sector. As a leading manufacturer of innovative and high-quality
solutions for the wire-processing industry and systems for the assembly of
self-medication instruments, Komax helps its customers implement economical
and safe manufacturing processes, especially in the automotive supply and
pharmaceutical sectors. The Komax Group employs around 1 550 people worldwide
and provides sales and service support via subsidiaries and independent
agents in around 60 countries.

Appendix

Key figures of the Komax Group

--------------------------------------------------------------------------------------------
| First half First half +/- in % |
| |
| 2015 2014 |
| TCHF TCHF |
| Order intake 193 914 176 186 10.1 |
| Revenues1 175 014 171 573 2.0 |
| EBITD 26 341 27 291 -3.5 |
| in % of revenues 15.1 15.9 |
| Operating profit (EBIT) 21 440 22 539 -4.9 |
| in % of revenues 12.3 13.1 |
| Group profit after taxes from continuing operations 13 068 20 982 -37.7 |
| in % of revenues 7.5 12.2 |
| Result from discontinued operations -1 229 -12 728 -90.3 |
| Group profit after taxes (EAT) 11 839 8 254 43.4 |
| in % of revenues 6.8 4.8 |
| Free cash flow 8 791 10 023 -12.3 |
| |
| 30.6.2015 31.12.2014 |
| Total assets 379 034 388 052 -2.3 |
| Shareholders' equity2 268 101 284 168 -5.7 |
| as % of total assets 70.7 73.2 |
| Net cash 16 160 29 211 -44.7 |
| |
| Headcount 1 559 1 498 4.1 |
| |
| Segment information Wire Medtech |
| First half 2015 TCHF TCHF |
| Order intake 165 508 28 406 |
| Net sales 146 938 28 146 |
| EBIT 27 990 -1 832 |
| First half 2014 |
| Order intake 144 560 31 626 |
| Net sales 139 916 31 925 |
| EBIT 26 737 263 |
| |
--------------------------------------------------------------------------------------------
1Revenues: Net sales revenues + other operating income.

2Share of shareholders' equity attributable to the shareholders of the parent
company.

Further information can be found on our websitewww.komaxgroup.com.

The complete Half-Year Report 2015 can be downloaded at:
http://www.komaxgroup.com/en/Investors/Reports-and-presentations/Financi...

The media release can be downloaded from the following link:

Media release (PDF)
http://hugin.info/100418/R/1946146/705955.pdf
Short report (PDF)
http://hugin.info/100418/R/1946146/705956.pdf
Report (PDF)
http://hugin.info/100418/R/1946146/7...

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