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Recovery continues at Oerlikon

Sales at embattled Swiss-based technology group Oerlikon have risen 14 per cent to SFr2.5 billion ($2.6 billion) during the first nine months of 2010.

This content was published on October 21, 2010 - 09:33
swissinfo.ch and agencies

Compared with the same period of the previous year, order intake during the first nine months of 2010 rose 39 per cent to 3.2 billion – despite a negative impact by currency exchange rates of SFr131 million.

Oerlikon manufactures a range of products from coating used in Formula One racing cars to machines used to make solar cells.

The group's increase in sales was mainly driven by Oerlikon Textile, where sales rose 56 per cent to SFr1.1 billion compared with the prior-year period.

Oerlikon Coating (+28 per cent), Vacuum (+32 per cent) and Advanced Technologies (+73 per cent) also contributed to the positive trend.

While Oerlikon Solar increased its sales to SFr139 million during the third quarter, sales during the first nine months of 2010 were still at a low level.

“The results for the first nine months of 2010 are considerably better than expected," said CEO Michael Buscher.

"As Oerlikon's recovery has gained ground, we are able to raise our forecast for the year as a whole. At the same time we are well aware that there are still challenging operational and strategic tasks ahead.”

Oerlikon posted losses of SFr422 million for 2008 and SFr592 million for 2009.

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