Navigation

Mikron crippled by losses

Mikron has posted big losses Keystone Archive

The Swiss technology group, Mikron, has posted losses of SFr127.3 million ($76.4 million) for 2001, but remains upbeat about its 2002 outlook.

This content was published on March 25, 2002 - 11:04

The company, which makes electrical components and parts for the automotive industry said the losses were due to restructuring costs and a SFr88 million ($52 million) "goodwill" gesture to write off certain areas of its business.

The 2001 results were in stark contrast to 2000, when the company recorded SFr34.1 million profit.

The multi-million franc loss for last year was based upon sales of SFr607.5 million with order volume at SFr 501.2 million.

Despite the gloomy news, Mikron is positive about its performance for 2002.

In a press statement on Monday, it said its current objective was to achieve a healthy balance sheet by the end of the year.

It's budget projections for 2002 are based on a lack of sales growth in a slow economic environment, with Mikron hoping that savings will be made through "substancial divestments" which in turn will improve cashflow.

swissinfo with agencies

In compliance with the JTI standards

In compliance with the JTI standards

More: SWI swissinfo.ch certified by the Journalism Trust Initiative

You can find an overview of ongoing debates with our journalists here. Please join us!

If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.

Sort by

Change your password

Do you really want to delete your profile?

Your subscription could not be saved. Please try again.
Almost finished... We need to confirm your email address. To complete the subscription process, please click the link in the email we just sent you.

Discover our weekly must-reads for free!

Sign up to get our top stories straight into your mailbox.

The SBC Privacy Policy provides additional information on how your data is processed.