|Ad hoc release pursuant to Art. 53 LR |
Bystronic increases sales guidance for 2021
Zurich, June 28, 2021 - The good business performance of Bystronic's continuing operations persisted during the second quarter of 2021. Thanks to the continued high order intake and the good order backlog, Bystronic now expects sales growth in the low double-digit range for the current financial year.
The acceleration of Bystronic's business development, which already began in the fourth quarter of 2020 and was accentuated in the first quarter of 2021, extended into the second quarter.
For the first half-year, Bystronic anticipates an increase in order intake in excess of 55% compared to the first half of 2020. The Group expects approximately CHF 430 million in net sales for its continuing operations, corresponding to a sales growth of 15%. The positive business performance is broad-based in all regions and most product areas. In addition to pandemic-related catch-up effects, Bystronic achieved solid growth in particular in its service business, a key growth driver of the "Strategy 2025".
Bystronic expects profitability (EBIT margin) for the first half-year to remain at the previous year's level due to expected one-time costs in connection with the transformation of the Group and excluding the discontinued operations.
Bystronic's detailed half-year results and the results of the discontinued operations as per June 30, 2021 will be published on August 6, 2021.
Assuming that the positive business development extends into the second half of the year, Bystronic now expects a low double-digit sales growth for its continuing operations with an EBIT margin of around 8 - 9% in the 2021 financial year.
The shares have been trading under the ticker symbol BYS on the SIX Swiss Exchange since May 3, 2021.
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Bystronic (SIX: BYS) is a leading global technology company in the field of sheet metal processing. The focus is on the automation of the complete material and data flow of the cutting and bending process chain. The intelligent networking of laser cutting systems and press brakes based on innovative automation, software, and service solutions is key to achieving the comprehensive digitalization of the sheet metal processing industry.
Bystronic's operational headquarters are located in Niederönz, Switzerland. Additional development and production sites are located in Sulgen (Switzerland), Gotha (Germany), Cazzago San Martino and San Giuliano Milanese (Italy), Tianjin and Shenzhen (China), and Hoffman Estates (USA). We are active with our own sales and service companies in more than 30 countries and are represented by agents in numerous other countries.
This release contains forward-looking statements, which are subject to uncertainty and risks. Actual future results may differ materially from those expressed in or implied by these statements. Some of these uncertainties and risks relate to factors that are beyond Bystronic's ability to control or predict precisely, such as, in particular, future market conditions, currency fluctuations, or the behavior of other market participants. Readers are cautioned not to put undue reliance on forward-looking statements, which speak only of the date of this communication. Bystronic disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or any other factors.