Growing order intake and sales
In the first half of 2018, the Applicator Systems division reported growing order intake and sales. Operational EBITA increased compared with the first half of 2017 and operational ROSA decreased marginally. The division reached further milestones in the integration of the acquired Transcodent.
Integrating Transcodent
Sulzer reached the next milestones in the Transcodent integration with the consolidation of the company’s dental footprint in the US and the combination of the sales teams. To expand the capacity of the industrial adhesives business, Sulzer opened a new production plant in Wroclaw, Poland. Moreover, the company established a new European distribution hub in Luxembourg for its adhesives and beauty products.
Applicator Systems continues to expand its customer base and global presence by providing the best service as well as innovative technologies. We are seeing the positive contribution from our Transcodent acquisition in the dental segment.
Amaury de Menthiere Division President Applicator Systems
The division, which is positioning itself as a technology innovator, will soon launch the company’s first eco-friendly collapsible cartridges (ecopaCC) to complement the current adhesives portfolio. Furthermore, the division initiated an operational excellence program within its beauty segment. This program focuses on all aspects of the division’s offering, including injection blow molding, injection molding and decoration technology for mascaras and lip gloss.
Increase in order intake and sales
In the first half of 2018, order intake and sales increased. Growth was most pronounced in the dental segment, which grew both organically and including acquisitions. The acquisition of Transcodent had a positive effect of CHF 9.3 million on sales. All regions contributed to the increasing sales volumes.
Operational EBITA increased — operational ROSA decreased marginally
APS reported an increase in its operational EBITA compared with the first half of 2017. This is mainly due to higher volumes (particularly in the dental segment). Operational ROSA decreased marginally due to an unfavorable product mix.
If not otherwise indicated, changes from the previous year are based on currency-adjusted figures. These are reported without consideration of IFRS 15, applying the same accounting policies as in the prior year.
Sales by market segment
Sales by region
Key figures Applicator Systems (January 1 – June 30)
|
millions of CHF |
2018 (new accounting policies) 1) |
2018 (previous accounting policies) 2) |
2017 |
Change in +/–% 3) |
+/–% adjusted 4) |
+/–% organic 5) |
|
Order intake |
229.5 |
229.5 |
210.1 |
9.3 |
6.3 |
1.3 |
|
Order intake gross margin |
47.5% |
47.5% |
44.6% |
|
|
|
|
Order backlog as of June 30/December 31 |
65.2 |
65.2 |
64.7 |
0.7 |
|
|
|
Sales |
229.0 |
229.0 |
208.5 |
9.8 |
6.8 |
2.4 |
|
EBIT |
36.1 |
36.1 |
35.5 |
1.6 |
|
|
|
opEBITA |
48.5 |
48.5 |
45.1 |
7.5 |
6.7 |
2.6 |
|
opROSA |
21.2% |
21.2% |
21.6% |
|
|
|
|
Employees (number of full-time equivalents) as of June 30/December 31 |
1’790 |
1’790 |
1’716 |
4.3 |
|
|
1) According to IFRS 15, see financial review and note 13 of the interim consolidated financial statements for details.
2) Without consideration of IFRS 15, applying the same accounting policies as in the prior year.
3) Comparing the previous accounting policies 2018 with 2017.
4) Adjusted for currency effects. Comparing the previous accounting policies 2018 with 2017.
5) Adjusted for acquisition and currency effects. Comparing the previous accounting policies 2018 with 2017.
Abbreviations
EBIT: Operating income
opEBITA: Operating income before restructuring, amortization, impairments and non-operational items
opROSA: Return on sales before restructuring, amortization, impairments and non-operational items (opEBITA/sales)