Sachseln/Obwalden - The maxon motor Group reported its second best-ever results in 2008, with sales totalling CHF 297.5 million compared with its record-breaking CHF 303.5 million in the previous year. At 2007 exchange rates, sales would have been CHF 325 million. Despite the weaker economy in the second half of 2008, cash flow totalled CHF 33 million (40.4 in the previous year), enabling all capital expenditure programmes to be internally funded. At year-end 2008, the company employed a workforce of around 1’760 in the maxon-group. maxon's complex drive systems are supplied to all principal global markets. The company is involved in all major space programmes, has a full product pipeline and has launched a number of innovative products over the past few months. It expects a noticeable drop in sales in the current financial year due to the economic downturn.
maxon defied the economic crisis in 2008 by reporting positive results. Sales generated at the parent company site in Sachseln rose to CHF 241.6 million (up 1.6% on the previous year). There were varying performances on sales markets. Sales increased in the US, they were practically unchanged in Switzerland and Asia, but fell slightly in the EU which is maxon’s largest market. Exports account for 80% of company sales. The focus in 2008 was on recruiting well-qualified engineers “and on meeting the ever more sophisticated requirements for complete drive systems”, explained majority shareholder Dr. Karl-Walter Braun. Investment in R&D increased by more than 25% to some CHF 23 million, representing almost 8% of sales.
Broad range of sophisticated applications
maxon products are used in a wide variety of sectors. A total of 78 drives have been working in the Mars Rovers for five years – they still function perfectly and have exceeded all expectations in terms of durability. In Formula 1, maxon motors help operate front wings remotely; in photovoltaics, maxon motors ensure automatic alignment of the solar panels to sunlight, and they are also fitted in pneumatic seat cushions which reduce fuel consumption and improve comfortable seating in aircraft. A number of innovative products have been launched onto the medical technology market which the company is developing as another mainstay business through maxon medical. One example is the brushless high-speed maxon EC Size 5 drive used in hand-held instruments for surgical procedures, helping make surgeons' work a great deal easier.
Adjustments undertaken
The weak economy has prompted maxon to reduce capacity as a precaution “so that the company can start growing again as soon as the economy picks up”, explained Karl-Walter Braun. He added that the Development Department was still working at full stretch, and was able to react rapidly and flexibly. Despite the expected drop in sales, there are a large number of new projects under way which make maxon confident of overcoming the major challenges.
Members of the Board: Dr. Ulrich Claessen, Eugen Elmiger, Armin Lederer, Dr. Karl-Walter Braun, Principal Shareholder
