VAT implemented in the first quarter of the year 2019 with 127.7 million Swiss francs, over a third less than in the same period last year, as the Eastern Swiss vacuum-valve manufacturer announced on Tuesday. Thus, the value was at the upper end of the March published on the company’s own forecast for the first quarter of 120 to 130 million.
in Addition, the company could receive significantly less new orders. New orders dropped by almost 41% to 127,8 million. Compared with the final quarter of 2018 (134 million) has declined the receipt of the order of 5.0 percent. The so-called Book-to-bill Ratio (ratio of incoming orders to revenues) was 1x, A value of 1 indicates a growing market.
The order backlog at the end of the quarter was estimated at 113.5 million Swiss francs, a slight decline of 0.1 percent compared to the end of 2018. With the Figures presented, the company has missed analysts ‘ expectations.
compared to the record results of the first quarter in the previous year, the Segment valves are recorded in the first quarter of 2019, with a sales decline of 41 percent to 96 million. Sales had been continue to be depressed due to lower customer investments in new manufacturing facilities, wrote the company. Because of the weakness of the market, VAT has been extended recently, the short-time work in Haag in the Canton of St. Gallen for an additional three months to the end of June.
net sales of Global Service remained, in spite of the General downturn in the semiconductor market, however, constant at 27 million. Net sales in the industrial Segment decreased by 38 percent to 5 million Swiss francs.
since mid-2018, continuing market slowdown have continued in the first quarter of 2019, albeit at a slower pace, it was called more The more moderate decline in order intake and in net sales compared to the fourth quarter of 2018 (-5% and -14%) indicates, however, that the low point of the currently weaker market environment could be achieved.
Despite this slightly optimistic tones of the previous Outlook for the total year 2019. Thereafter, a lower revenue, lower EBITDA margin and a reduction is made net profit in the views. The medium-term target of an EBITDA margin of 33 percent was maintained.