The Swiss Maxon Group increased its sales by around 40 million Swiss francs (CHF) to CHF 567.8 million in the 2019 financial year. This means that the Group has more than doubled its turnover in the last ten years. Cash flow fell to CHF 44.9 million (2018: CHF 55.7 million). This was due to the Swiss franc regaining strength against the euro, goodwill amortization at the UK company Parvalux, which was acquired in 2018, and the conversion of Group-wide IT to the new next-generation ERP solution.

Corona pandemic: in-house development and production an advantage

In the past financial year, the specialist for mechatronic drive systems invested over CHF 38 million in research and development, with around 340 employees working in this area. In recent months, the company has benefited from designing and producing gearboxes, electric motors and control electronics in-house, according to Eugen Elmiger, Delegate of the Board of Directors and CEO. This enabled Maxon to act quickly and flexibly and develop, manufacture and supply motors for ventilators and linear drives for laboratory automation to evaluate coronavirus tests.

In addition to industrial automation and robotics, medical technology is also one of the Group's strongest sectors in terms of sales, followed by measurement and testing technology, aerospace and the automotive industry. In the latter, a major order for urea injection in trucks (AdBlue Technology) had a positive impact on earnings.

The figures in detail

In Sachseln, Switzerland, turnover fell slightly in the 2019 financial year, as expected, following growth of 15% in 2018. By contrast, the past financial year was the most successful year to date for the Sexau site in Germany: turnover rose to EUR 80.9 million. In Hungary, turnover increased by around a quarter to over CHF 25 million; around 500 people are now employed in Veszprém. South Korea was also able to grow: Sales rose by around 35% to just under CHF 40 million.

Two motor lines were put into operation in Taunton, USA, during the year; various major US customers in regulated markets such as medical technology have already given their consent for their products to be manufactured there in future.

Parvalux in Bournemouth, UK, achieved sales of CHF 25.8 million in its first year with the Maxon Group. With the Parvalux products, the maxon Group is taking a further step towards becoming a complete system supplier - from small and micro motors to geared motors up to 1.5 kW. A new production and administration building is currently under construction in Lyon, France.