New revenue record for maxon motor
maxon motor group increases revenues to CHF 459 million – growth in all markets – expansion of production capacity at all sites – unbroken innovative power – positive outlook for the future
Sachseln/Obwalden – The maxon motor group achieved a new revenue record in 2017. Revenues rose by 8.6% to CHF 459 million (up from CHF 422.5 million in the previous year). All markets contributed to the growth. Cash flow increased to just under CHF 50 million (up from 41.7 million). The number of employees in the group rose to 2577 by the end of the year. At a 40% revenue share, medical technology continues to be our strongest sector, followed by industrial automation at 28%. With R&D investments of CHF 34 million and more than 360 employees in our R&D sites worldwide, maxon has succeeded in bringing more than 20 new motors and gearheads to market and expand the company's position as a leading manufacturer of high-quality drive components and system. Based on the good order situation, maxon looks to the future with confidence.
The drivers of growth at maxon are mainly the innovative precision drives with high efficiency as well as the matching electronics for controlling complex motion sequences. The company produces in Sachseln/CH, Sexau/GER, Veszprém/HU, Cheonan/South Korea, and soon at its new factory in Taunton near Boston. In addition to the sites above, R&D facilities are also located in China, France, and the Netherlands.
Growth in all markets worldwide
The biggest market in Europe is Germans, followed by Switzerland and the UK. Italy and the Iberian peninsula also grew markedly. After some years of stagnation, a strong growth has also picked up in the US. In Asia, maxon achieved new records in Japan, South Korea, and Taiwan. In China, maxon has seen double-digit growth over the past years. “The revenue increase by 100 million over four years has posed a great challenge to us as a company in regard to quality and service. Owing to our highly trained employees, we have been able to master this challenge successfully,” says majority shareholder Karl-Walter Braun.
Unbroken innovative power
One in seven maxon employees works in research and development. As a result of these steadily expanding capabilities, maxon launched more than 20 new electric motors, gearheads, encoders, and controllers in the past year. In aerospace, the motors work at temperatures as low as -130 °C, while ESA's Mercury Planetary Orbiter space probe has to withstand temperatures of more than 350 °C on its flight toward the sun. In 2020, high-performance maxon motors will be used in two rover missions by ESA and NASA, after having run for more than 15 years in the hostile Mars environment despite a scheduled service life of only a few weeks.
“Our ‘Mission 2020’ strategy for growth, which we launched years ago with the goal of achieving forward integration of drive systems, is showing some initial success,” says Eugen Elmiger, CEO of maxon motor group. “For example, we've been able to secure a large order for pump systems to reduce nitrous gas emissions in Diesel cars in the highly competitive automotive market. We also drove forward the development of complete surgical power tools, as well as micro-pump systems used in minimal invasive cardiac surgery.” Eugen Elmiger also expects healthy growth for the user-friendly and efficient high-performance multi-axis controllers made by zub, a company acquired by maxon last year.
Strong start into the new year
The first months of the new year were characterized by strong growth across the group. Pending orders and revenues exceed the figures of the previous year. Due to the overall economic development, the company expects growth to slow down somewhat in the second half of the year. “We will approach further expansion with the necessary caution,” says Karl-Walter Braun.
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