In the fiscal year 2024, Mikron achieved a net revenue of CHF 374.1 million, representing an increase of 1.0% compared to the previous year. The operating profit amounted to CHF 31.9 million (2023: CHF 33.4 million). The operating profit margin was 8.5% (2023: 9.0%). With a healthy order backlog, the Mikron Group is well positioned for the fiscal year 2025.
Mikron looks back on a solid fiscal year 2024. Both business segments benefited at the beginning of the year from a good order backlog and were able to adapt flexibly to seize market opportunities. Like most other companies, the Mikron Group faces significant global challenges. However, the group's development in recent years confirms the effectiveness of its strategy. The group has become more resilient and less dependent on the short cycles of markets with high volumes. The core of this strategy is the focus on key customers whose investment and development plans extend beyond the usual up and down cycles. Furthermore, Mikron has found entry into industries that promise growth in the coming years, where companies rely on collaborative partnerships with suppliers.
Order Intake and Order Backlog
Mikron's order intake for 2024 was CHF 388.6 million, which is 5.7% lower than the previous year's result. The Automation business segment contributed CHF 265.0 million to the order intake, representing a decline of 4.0%. Solid results in Europe and Asia were offset by a decline in North America. The Machining Solutions business segment recorded an order intake of CHF 123.7 million, which is a decrease of 9.1%. This is attributed to the general weakening of the market in Europe. In North America, however, Machining Solutions experienced growth.
The group's order backlog amounted to CHF 324.1 million as of December 31, 2024, representing an increase of 6.5% compared to the previous year. Automation increased its order backlog by 13.6%, mainly in Europe and Asia, while Machining Solutions recorded a decline of 8.0% due to weaker markets in Europe.
Net Revenue
Mikron's net revenue for the reporting year was CHF 374.1 million, reflecting an increase of 1.0% compared to the previous year. 61% of the net revenue (2023: 57%) came from the pharmaceutical and medical technology industry; here, the increase compared to the previous year was 7.6%. The net revenue from Automation was CHF 233.3 million, up 0.9% from the previous year. 94% of the net revenue came from the pharmaceutical and medical technology industry (2023: 90%), with growth remaining strong both in Europe at 20.4% and in Asia at 17.2%. This contrasted with the lack of orders in North America, which saw a decline in net revenue of 31.4%. This is mainly attributed to the decline in orders.
Mikron believes that this development is only temporary, but it is difficult to predict how long it will last. Therefore, the company has made necessary capacity adjustments in its U.S. operations. In contrast, Mikron has created additional temporary production areas in Europe and Asia to meet the high demand in automation.
The net revenue of Machining Solutions increased by 1.2% to CHF 140.8 million, which is considered a good result given the difficult market conditions, especially in Europe. Net revenue from the automotive industry continued to decline, accounting for 12% of net revenue (2023: 15%). Europe and Asia saw declines of 6.0% and 3.4%, respectively, while North America increased by 37.8%.
Profitability
Mikron's operating profit in 2024 was CHF 31.9 million or 8.5% of net revenue, compared to CHF 33.4 million or 9.0% of net revenue in the previous year. The main reason for this loss was the significant decline in revenue in the automation business in North America. Although this was offset by strong revenue growth in the automation sector in Europe and Asia, the adjustment of the cost structure in the U.S. will not be completed until this year. Furthermore, to cope with the high demand in Europe, temporary inefficiencies in production had to be tolerated.
Distribution to Shareholders
The Board of Directors of the Mikron Group will propose a distribution to shareholders of CHF 0.50 per share (previous year: CHF 0.50) at the General Meeting on April 16, 2025.
Outlook
Mikron's progress aligns with the medium-term planning and strategy of the group. The group started the fiscal year 2025 with a solid order backlog, supported by a sustained strong growth trend in automation in Europe and Asia. In the Machining Solutions sector, however, a persistent market slowdown is evident in Europe, and despite extensive bidding, a short-term change in the situation for automation in North America is not foreseeable. Therefore, forecasts for 2025 remain challenging. Mikron expects that the group's net revenue will remain stable in 2025, with an operating profit margin at the level of 2024.
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