Mikron (RXO) H2 2024 earnings summary

Executive summary

• Net sales reached CHF 374.1 million, up 1.0% year-over-year, with an operating profit margin of 8.5% and net profit of CHF 27.9 million, slightly down 3.2% from the prior year.

• Order intake declined by 5.7% to CHF 388.6 million, but order backlog increased 6.5% to CHF 324.1 million, positioning the group well for 2025.

• Free cash flow rose to CHF 48.9 million, and the equity ratio improved to 56.7%, with the company remaining debt-free.

• A dividend of CHF 0.50 per share is proposed, unchanged from the previous year.

Financial highlights

• EBITDA was CHF 41.3 million (11.0% of net sales), and EBIT was CHF 31.2 million (8.3% of net sales), both slightly lower than 2023.

• Net profit per share was CHF 1.68, down from CHF 1.73 in 2023.

• Capital expenditure increased to CHF 20.6 million, mainly for facility expansion and technology investments.

Outlook and guidance

• Net sales and operating profit margin are expected to remain stable in 2025, with continued strong growth in Automation in Europe and Asia, but persistent weakness in Machining Solutions in Europe and Automation in North America.