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2009: The SCHURTER Group in economical headwind

Lucerne, 1. April 2010 - The SCHURTER Group, active in the electronics industry, was hit hard by the economic slump in 2009. The result was a sharp decline in orders and thus a decline in sales of 24.6% to only CHF 150.9 m. As the cost structure could not be adapted simultaneously with the economic downturn, a loss of CHF 2.8 m was unavoidable.

2009 began very weak for the SCHURTER Group with her 17 worldwide subsidiaries. The trough was reached mid-year with declines in sales of up to more than 50% for some subsidiaries. The negative monetary influence of 2.7% put further pressure on the sales result. Short-time work and personnel reductions like early retirements or redundancies were unavoidable in most subsidiaries. However, investment and engineering activities continued as planned.

The decrease in sales affected all three divisions to the same extent. The profit situation, however, developed differently. Only the division Input Systems was in the black.

The loss of the SCHURTER Group for 2009 amounted to CHF 2.8 m (2008: Net profit CHF 1.9 m). Cash Flow decreased by 46.0% to CHF 5.88 m or to 3.9% of the Gross Income. The EBIT was slightly positive.

A slight recovery set in from the third quarter 2009, which further intensified by year-end and is still continuing up to today. Short-time work which was initialized at the beginning of 2009 could be revoked in all subsidiaries by the end of the year at the latest. Due to the increasing order backlog, headcount is rising again - also in Switzerland. However, due to the still uncertain economic situation, any visibility is lacking. Therefore, no projections for the year-end result 2010 are made.

As a family-owned enterprise with more than 1'400 employees worldwide, it is of great importance to the SCHURTER group to safeguard employment, respectively to increase it again and to return to the accustomed growth path.

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