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In 2009, sales of the Komax Group fell by around 40% from CHF 342 million (2008 annual sales) to CHF 210 million. The Wire business unit was hit hardest. The majority of the customers in this segment are in the automotive industry. However, sales in the Solar area, which had been experiencing strong growth, also fell. Only the Medtech business unit developed well in 2009, achieving growth.

Nevertheless, business picked up again substantially in the second half of 2009 and both Wire and Solar have bottomed out. New orders received by the Komax Group in the second half of 2009 were up by 70% on the very low first-half figure. In total, annual order intake fell from CHF 380 million in 2008 to CHF 220 million in 2009.

For the first time in its history, the Komax Group anticipates a negative operating result.  Nevertheless, the operating result for the fourth quarter of 2009 was positive.

Among other activities, the Komax Group produces wire processing machines (crimping machines, for instance) and harness machines. The end markets for its wire processing systems are the automotive industry, the household appliances market and electronics market. In the first half of 2009, automotive customers in particular cut right back on capital expenditure. Later on in the year, the situation improved somewhat. During the year as a whole, machines for the household appliances and electronics markets were generally affected less by the downturn.

For the solar industry, Komax produces machines for manufacturing solar modules, which are strategically important both in the crystalline and thin-film area. Thanks to a wide range of innovations, the Komax Solar business unit performed better in the second half of the year. However, this did not apply to the smaller thin-film area, which accounts for around 20% of Komax's solar sales. The Group made anti-cyclical investments in this subsegment in 2009 and brought new products to market at great development expense. However, as the market is still slow, capacity now has to be adjusted to suit the changed environment. The company plans to cut around another 30 jobs.

In the area of medical technology, Komax produces machines and systems for assembling insulin delivery systems, inhalers and syringes. Business in this area remained strong throughout the entire year. Komax won various new customers in this segment and has established itself as one of the major European suppliers on the market.

Komax's major markets appear to be stabilizing. If this recovery continues, the Group anticipates growth again in 2010. The order situation has improved in the Wire business unit, short-term working is set to end, crystalline solar is developing well thanks to innovative products, and the Medtech business unit has started off the new year with a high level of orders in hand.