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Turnover dropped by 4% compared to the previous year; organically and in local currencies by 6%. The global economic crisis mainly impacted eastern European markets and parts of Asia, leading to a drop in sales in these geographical markets.
Whereas a number of local subsidiaries performed well in extremely competitive markets and increased their sales (USA, several western European markets, China), the economic crisis had a negative effect on investments by customers, mainly in the eastern European markets (incl. Russia) as well as the Middle East and led to a drop in turnover. Again, the strong Swiss franc had a dampening effect on sales. Belimed generates 90% (previous year 89%) of its sales in exports.
Turnover in the customer service sector increased significantly by double digits, partly due to the acquisition of Sanamij in the middle of 2009 and the taking over of the service and spare parts business of BHT in Germany. However, the business areas Pharma and Medical posted a decline in sales. A number of major projects were postponed in the Medical segment due to customers' financial restraints.
Outlook
Assessments as to the future economic development remain shrouded in uncertainty. Based on the high volume of existing orders and the broad geographical presence of the group, the management of Belimed AG is confident of returning to renewed growth in 2010.
Contact
Niklaus Sauter, CEO Belimed AG
Tel. +41 (0)41 768 96 00
press@belimed.com
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