In the third quarter of 2008, sales and order intake again exceeded the corresponding figures of the previous year. The 9-month cumulative sales were up 14% in local currency terms. Currency effects and portfolio adjustments reduced the growth rate reported in Swiss francs to 7%. Sales totalled CHF 586.3 million; order intake, at CHF 600.4 million, was slightly above the figure of the corresponding period in the previous year (CHF 598.8 million). Discounting the currency effects, order intake increased organically by 7%.
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Considerable rise in sales and EBIT – financial result impacted by currency effects In the first half of 2008 HUBER+SUHNER posted again significantly higher results, expanding its position particularly in the low frequency technology business and fiber optics and recording above average growth rates in the railway, automotive and solar energy market seg-ments. With sales up 13.8% in local currency terms, HUBER+SUHNER remained on track for solid growth. Currency effects and portfolio ad-justments reduced the growth rate reported in Swiss francs to 6.6% compared to the first half of 2007. While sales totalled CHF 386.9 mil-lion, operating profit (EBIT) rose by a pleasing 14.3% to CHF 53.5 mil-lion, resulting in an EBIT margin of 13.8%. Mainly due to the recalculation of balance sheet positions in foreign currencies, the company recorded currency losses of approximately CHF 10 million compared to currency gains of around CHF 5 million in the previous-year period. As a result, the net income was slightly lo-wer despite the higher operating profit. At CHF 35.6 million, after-tax earnings were CHF 6.7 million lower year-on-year. HUBER+SUHNER expects to close 2008 with sales in the order of CHF 760 million and a further increase in operating profit compared to 2007.
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