ERJ staff report (DS)
Altdorf, Switzerland - DÃ¤twyler Group recorded a slight recovery of demand in the second half of the year, following a challenging first half. In 12 months to December 2009, net revenue dropped by 14% to CHF 1'113.4 million (euro 757 million), compared with CHF 1'294.9 million recorded in the bumper year 2008.
The Rubber Division in the first half of the year suffered due to the fall in demand from the automotive industry. Net revenue declined by 19.5% to CHF 124.7 million (euro 84.7 million) (CHF 154.9 million). This could only be partly compensated by the major order for packaging gaskets from the consumer goods industry. Demand from the automotive industry clearly recovered in the second half of the year.
Depending on the region, the Cables Division registered varying market developments: While demand in Eastern and Southern Europe as well as in the Middle East dropped considerably, the primary markets of Switzerland and Germany as well as China showed robust activity. Overall, the Cables Division net revenue declined by 19.0% to CHF 221.4 million (PY CHF 273.3 million); based on the previous period's copper prices the decline amounted to 14.8%.
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Press release from DÃ¤twyler