ERJ staff report (DS)
Altdorf, Switzerland -- The Daetwyler Group delivered record revenue and profit levels for the 12 months ended December 2007. Net revenue climbed 17.7 percent to CHF 1,429.4 million (Euro 907 million) and profit for the year jumped to CHF 219.5 million (Euro 139 million). re. In 2008, Daetwyler aims to continue increasing revenue and profit from operations for the year.
Daetwyler said its rubber division, operating as Daetwyler Rubber, generated net revenue growth of 9.5 percent to CHF 153.9 million from CHF 140.5 million a year earlier. Operating profit (EBIT) before impairment charges in the NAFTA region increased to CHF 12.3 million, up from the previous year's figure of CHF 9.1 million excluding the effects of the fire in France. This represents an operating EBIT margin of 8.0 percent. Including impairment charges, EBIT stood at CHF 8.7 million, resulting in an EBIT margin of 5.7 percent versus 4.7 percent a year earlier.
The company said the US plant still has to contend with the difficult conditions in the American market for automotive sealing solutions. In a bid to improve the situation and reinforce operations in the NAFTA region, Daetwyler Rubber is opening a manufacturing facility in Mexico during 2008. As announced in the Interim Report, the company's projects during the year included significant investments to lay the groundwork for a major long-term contract that will be effective from 2008. The final agreement was signed in January 2008. When mass production gets fully underway, the annual volume is expected to reach more than CHF 30 million.
The Daetwyler Group is an international multi-niche player dedicated to industrial component supply and distribution of engineering and electronic components. Its activities concentrate on attractive markets and niches that offer opportunities to increase value added and sustain profitable growth. Daetwyler is focusing on the industrial, construction and pharmaceutical markets with a technology portfolio based on rubber and electrical engineering.
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Press release from DÃ¤twyler