Huber+Suhner with profit slump
Huber + Suhner, a specialist in cable and telecommunications technology, reported a significant drop in profits in 2011: The company’s net income totaled 49.8 million Swiss francs, down 37 percent from 2010.
Huber + Suhner cites the strong Swiss franc and the high price of copper as the reasons for the decline. Currency effects and raw material prices reduced operating profit before interest and taxes (EBIT) by CHF 34 million. The cable manufacturer writes this on
Thursday according to SDA. Compared to the previous year, EBIT fell by 35.1 percent to CHF 66.1 million.
Huber + Suhner was also unable to match the previous year's sales figures. As already announced in mid-January, the Group's sales fell by 5 percent to 758 million Swiss francs. However, the strong Swiss franc also clouded the result here: calculated in local currencies, the company reported growth of 5 percent.
The second half of the year was particularly difficult for the company. The company cites the general reluctance to invest, the global weakness of the solar market and the Chinese government's halt to all high-speed rail projects in the middle of last year as the reasons for this.
Due to the weak fourth quarter, the outlook is also rather cautious. The question of when the halted rail projects in China will be continued remains unanswered. Meanwhile, there is no easing in sight in the solar market. Overall, the company expects a decline in turnover.
