Sulzer’s core divisions recorded a 10% increase in order intake (adjusted1, 7%) to CHF 1085 million. In particular, there was a rise in the number of new equipment orders. A moderate upward trend was evident in the North American and European markets, while the Asian markets continued to operate at a very good level.
Sulzer Metco, a leading provider of surface technology solutions and services, posted a 31% increase to CHF 268 million in orders received. The rise can partly be attributed to acquisitions, whose orders were not included in the division’s figures for the prior-year period. Adjusted both for these acquisitions and for currency effects, order intake was up 15% over the first half of 2003. The aerospace, automotive, and other growth segments all contributed to the marked improvement, with only the energy sector staying at a low level. The prospects for continued positive development remain intact.
Sulzer Turbomachinery Services recorded a rise in order intake to CHF 110 million (up 4%; adjusted1, 6%). The situation in North America remains challenging, and as a result, the rather flat trend can be viewed positively. Sulzer does not yet expect any significant change in the market situation over the coming months.
Sulzer Pumps, a leading provider of centrifugal pumps and related services worldwide, recorded an impressive order intake of CHF 540 million in the first six months of the year (up 7%; adjusted1, 5%). The division again generated a large order volume in the second quarter, similar to the excellent prior-year level. All segments were in very good shape in the first half of this year, especially the oil and gas segment. The outlook for the coming months is good.
Orders received at Sulzer Chemtech, a market leader for technologies in the field of separation columns and static mixing, were solid at CHF 168 million. On an adjusted1 basis, this figure is on the high prior-year level (–1%; adjusted1, 0%). The Asian market made a significant contribution to the strong order figures. The generally stable, high-level trend is likely to continue.
As expected, order intake at Sulzer Hexis remained insignificant. The focus is on the continued development of the near series system, which is currently undergoing laboratory testing. Good results have been achieved in field tests for the pre-series systems, and positive reactions obtained from clients.
Order intake for Others relates primarily to Sulzer Innotec.
Outlook for the second half of 2004
Sulzer already had a good order backlog at the beginning of 2004, and the orders received in the first six months of the year have confirmed the upward trend. Given a stable global economy, it can currently be expected that the positive order trend will continue over the second half of the year.
Midyear results of the Sulzer Corporation for 2004 will be announced on August 25, 2004.
Order intake for the first half of 2004 (January to June)
Key figures by division (in million CHF)
| Order intake |
1H 2004 |
1H 2003 |
?
in % |
? adj. in %1) |
|
| Core divisions |
1085.4 |
985.5 |
10.1 |
6.6 |
|
| Sulzer Metco |
268.0 |
205.3 |
30.5 |
15.4 |
|
| Sulzer Turbomachinery Services |
109.6 |
105.5 |
3.9 |
6.0 |
|
| Sulzer Pumps |
540.0 |
505.2 |
6.9 |
5.3 |
|
| Sulzer Chemtech |
167.8 |
169.5 |
–1.0 |
0.2 |
|
| Venture division (Sulzer Hexis) |
0.2 |
0.0 |
- |
- |
|
| Others |
9.5 |
15.1 |
- |
- |
|
| Total |
1095.1 |
1000.6 |
9.4 |
6.7 |
|
1) Adjusted for acquisitions and currency effects |
The Sulzer Corporation (www.sulzer.com) is comprised of the four core divisions Sulzer Metco (surface technology solutions and services), Sulzer Turbomachinery Services (service and repair of thermal turbomachinery), Sulzer Pumps (pumping solutions and services), Sulzer Chemtech (components and services for separation columns and static mixing), and the venture division Sulzer Hexis (fuel cell systems for residential applications). Sales in 2003 totaled CHF 1826 million. Sulzer currently employs about 9000 people worldwide. |