maxon motor Group presents good results again
maxon motor Group again achieved good results in 2011 – Revenue doubled since 2001 – Strengthened market leadership in the field of high-precision drive technology – Well-filled product pipeline – Cautiously optimistic look at the future.
Sachseln/OW (CH). – The 2011 business year proved to be very positive for the maxon motor Group. Building on the excellent results of the year before, maxon increased the revenue to 339.6 million Swiss francs. The cash flow amounts to 37 million Swiss francs, allowing the company to finance all investments using own funds only. At the end of 2011, maxon employed more than 2,000 persons at the locations in Sachseln (Switzerland), Sexau (Germany) and Veszprém (Hungary). The export share at maxon is 81.5%. Due to the uncertain economic development worldwide, maxon is hesitant to make predictions for the current business year.
“2011 was characterised by currency declines and massive increases in the prices of commodities, especially magnets. In spite of these obstacles, we reached our targets,” said Karl-Walter Braun, majority shareholder of the maxon motor Group, at the annual results media conference. The company exports to all important markets of the world. The largest increases were achieved in Northern America, Scandinavia, as well as Germany and Italy. In Asia, maxon was able to keep the revenue stable, in spite of the decline of the Asian currencies and the events in Fukushima. In Switzerland, maxon recorded very good results. The diversified company is well-established in the fields of medical technology and industrial automation, as well as in the aerospace industries, etc. “With around 2,000 employees, we are large enough to implement ambitious projects, yet still manageable enough to react and decide quickly,” says Jürgen Mayer, President of the Board of Directors.
Wide range of applications
maxon, two-time winner of the Innovation Prize awarded by the Central Switzerland Chamber of Commerce, has introduced various new motors to the market, with a continuing trend towards miniaturisation. In 2011, as before, the investments for research and development are at a very high level, with 8.3% of the revenue being dedicated to this area. “Currently the product pipeline is filled with many promising developments, and with our expertise, we will generate true innovations for new markets,” says Eugen Elmiger, CEO. “In the perpetually dynamic market environment, we can maintain our position by constantly introducing new products featuring Swiss precision into the market,” states Elmiger. The micro motors are, for example, used in intelligent leg prosthesis systems, in deep drilling and in implantable medication delivery systems.
Cautious look at the future
“The prospects for a positive development of the global economy are intact – if only it wasn’t for the euro and the euro crisis,” says Karl-Walter Braun. “In this unpredictable situation, we can count on our solid financial basis and the high-quality technological products that are needed all around the world and are used in a wide range of applications.”
A change occurred on the management level; the employment contract with Armin Lederer, Head of Operations, has been dissolved, due to difference of opinion regarding the strategic direction of the company. His successor will be announced in due course.