Daetwyler results show recovery in 2010

ERJ staff report (DS)

Altdorf, Switzerland -- Daetwyler recovered further in 2010 as its markets recovered, though the recovery was varied by region and segment. Daetwyler said demand was generally higher across all its four divisions. At Group level, Daetwyler lifted net revenue year-on-year by 17.6 percent to CHF 1319.5 million (euro ?? million) (previous year CHF 1122.2 million). .

The Rubber Division benefited from the dynamic recovery staged by the automotive industry. Net revenue grew 13.4 percent to CHF 151.4 million (PY CHF 133.5 million). In the second half in particular, the strong franc severely hampered exports. Rubber activities now contribute less than 15 percent of group revenues.

The Cables Division posted a 10.0 percent increase in net sales to CHF 243.6 million (PY CHF 221.4 million). Exchange rate fluctuations had a negative effect on revenue growth, while increases in the price of copper impacted positively. Whereas Germany, Austria, the Benelux countries and, first and foremost, China all experienced substantial rises in demand, the Swiss domestic market registered only moderate growth.

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Press release from Daetwyler