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A rebound in sales in the second-half of 2009 and a recovery in solar manufacturing equipment sales in the fourth quarter couldn’t avert Komax Group recoding its first annual financial loss in the company’s history. Annual sales fell by approximately 38% from CHF 342.7 million in 2008 to CHF 211.5 million in 2009. PV sales also decline year-on-year to CHF 45.9 million, down from CHF 52.9 million in 2008. EBIT loss for the solar business unit was CHF 5.5 million, compared to an EBIT of CHF 6.5 million in the previous year.
Komax said it was impacted by the poor demand for equipment in the thin film sector in 2009, which accounted for approximately 20% of sales.
However, business in the crystalline sector was improving, which started in the fourth quarter of 2009 and is particularly strong in Asia. Komax is also focusing its attentions on new product introductions and market presence in Asia, especially for crystalline module equipment, which will be increasingly built and shipped from its Asia-based operations.
Komax is expecting to report a profit for the first half of 2010, which if the recovery continues it expects to return to growth and a positive result for the year.
