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SCHURTER 2014: Successful financial year

In 2014 the Lucerne-based family-owned electronic business posted the second-best result in its over 80-year history. The SCHURTER Group, with its 20 subsidiaries around the world, saw sales and earnings rise sharply compared to the previous year. Sales increased 17.6% to reach CHF 205.5 million. Cash flow amounted to 10.0% and net earnings came to 5.1% of sales.

While the performance of the two Components and Input Systems Divisions varied, both were positive and strong. Not least due to the acquisition of the Danielson Group, the non-domestic share rose to 84.1% (previous year 81.0%). In the case of Components we were able to achieve organic growth of 1.9%. At Input Systems, by contrast, the respective figure was 68.7%. This substantial rise was attributable in particular to the acquisition of the Dutch Danielson Group. If this acquisition is taken out of the equation, we would have achieved sales growth of 11.0% with input systems – well above the average for the sector. During the year under report, Components accounted for 66.3% of sales, while Input Systems generated 33.7%.

There were a number of significant senior management changes in 2014. Ralph Müller replaced Hans-Rudolf Schurter with effect from 1 January 2015. Having reached statutory retirement age after 24 years at the top of the company, Mr. Schurter stepped down from his position as CEO at the end of the year. However, he will continue to serve the business in the capacity of non-executive Chairman of the Board of Directors. Responsibility for the Components Division was assumed by Martin Zarges on 1 January 2015.

As was the case in 2013, currency factors remained moderate during the year under report. In overall terms these had a positive impact amounting to some CHF 2.0 million. The Swiss National Bank’s lower exchange rate limit of CHF 1.20 against the euro fulfilled its purpose effectively during the year under report.

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