In brief

Komax is a globally active technology group specializing in automation solutions for selected processes. With its innovative and high-quality solutions for the wire proces­sing industry, Komax helps its customers implement economical and safe manufacturing processes, especially in the automotive supply sector.

In brief

Order intake
+6.3%

373.0m
Revenues in CHF
+18.4%

Share price
CHF 251.25
+28.9%

Dividend yield
2.6%

Shareholders’ Letter

Dear Shareholder
The 2016 financial year was an intensive one for the Komax Group in many respects, as it was characterized by various events that will be important to the company’s future success. These included the sale of the Medtech business unit, four acquisitions, the establishment of a new location in Mexico, the restructuring exercises in Porta Westfalica, Germany, the formulation of the 2017–2021 strategy, and the launch of numerous new products. Komax has responded well to the challenges presented by these events, while at the same time achieving a very pleasing result.


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Locations

The Komax Group has a presence in all key production centers of its customers. Hav­ing had its finger on the pulse of industry for more than 40 years, Komax is able to ­develop appropriate, high-value and innovative automation solutions for local requirements in global markets.


Komax produces in Europe, North and South America, Asia and Africa, and provides sales and service support in some 60 countries through its subsidiaries and independent agents.

Locations

15
production
sites

34
Komax companies
worldwide

Sales and
service support in
60
countries

Global Megatrends

Global megatrends are accelerating Komax’s growth. Issues such as environmental awareness, safety, and the rise of integrated and affordable vehicles are help-ing to drive up the number of wires installed in modern cars. Since maximum quality at the lowest possible cost is required, wire processing is becoming increasingly automated. Komax has solutions for its customers that provide a compelling response to global megatrends.

Global Megatrends

Autonomous
driving

Electro-
mobility

Increasing pressure for
automation

Growing number of
vehicles and
wires

Business Model and Strategy

Komax focuses on automating the wire processing business in four market segments, and is keen to further consolidate its market and technology leadership. To this end, it pursues four key strategic priorities. The most important of these are above-average profitability and further sustainable growth. This strategy goes hand in hand with environmentally conscious, socially aware and responsible conduct towards all stakeholder groups.

Business Model and Strategy

Ambitious
targets

High
degree of
innovation

Market and
technology
leader

Board of Directors

Beat Kälin (1957)
Non-executive, dependent member and Chairman of the Board of Directors since 2015, elected until 2016, Swiss national, resident in Birmensdorf, Chairman of the Board of Directors of listed company Huber + Suhner AG, Pfäffikon (ZH).

Daniel Hirschi (1956)
Non-executive, independent member of the Board of Directors since 2005, Vice-Chairman since 2014, elected until 2017, Swiss national, resident in Biel, Chairman of the Board of Directors of listed company Schaffner Holding AG, Luterbach, and member of the Board of Directors of listed company Gavazzi Holding AG, Steinhausen.

David Dean (1959)
Non-executive, independent member of the Board of Directors since 2014, elected until 2016, Swiss national, resident in Meilen, member of the Board of Directors of Agta Record AG in Fehraltorf and of Trumpf AG in Baar, as well as member of the Industry Executive Advisory Board of the Executive MBA in Supply Chain Management at ETH Zurich.

Kurt Haerri (1962)
Non-executive, independent member of the Board of Directors since 2012, elected until 2016, Swiss national, resident in Birrwil.

Roland Siegwart (1959)
Non-executive, independent member of the Board of Directors since 2013, elected until 2017, Swiss national, resident in Schwyz. Member of the Board of Directors of Evatec Holding AG, Trübbach, GE Inspection Robotics AG, Zurich, and NZZ Mediengruppe (owner of the Neue Zürcher Zeitung), Zurich, a Trustee of the Gebert Rüf Foundation, Basel.




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Executive Committee

Matijas Meyer (1970)
Chief Executive Officer (CEO)
since 2015 and Head Business
Unit Wire since 2010, at Komax since 2007, Swiss national, resident in Ebikon

Andreas Wolfisberg (1958)
Chief Financial Officer (CFO) since 1996, at Komax since 1991, Swiss national, resident in Adligenswil, Chairman of the Board of Directors of Kowema Beteiligungs AG, Baar.


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Sustainability and Social Responsibility

The Komax Group upholds its responsibilities towards its stakeholder groups through the systems it produces, the services it provides, or the goals and attitude of the company.
The basic tenets underlying the Komax Group’s business practices are set out in its guiding principles and in its code of conduct. It exercises responsibility towards ­people and the environment, and is keen to continuously develop its competencies in matters relating to sustainability and social responsibility. Komax regards sustainability and social responsibility as an integral part of its corporate strategy.

Sustainability and Social Responsibility

Headcount
1633

Information for Investors

The equity markets experienced strong fluctuations in 2016. Contributory factors here included a number of political events, such as the surprising vote by the UK electorate to leave the European Union (EU), the election of Donald Trump as US President, and the failed constitutional ­referendum in Italy. Stock markets were quick to recover, however, soon shrugging off the initially negative expectations of the impact that each of these events would have. In the US, in fact, Trump’s election fuelled hopes of accelerated economic growth, which had the effect of inspiring many a share price.

Information for Investors

948.3m
market capitalization
in CHF

Payout ratio
69%

High free float
95%

Attractive
dividend yield
2.6%

2017–2021 Strategy

The Komax Group intends to further consolidate its market and technology leadership. With this in mind, it has set ambitious medium-term targets for the
2017–2021 period, which cover growth, profitability, and return on capital.
Through its business strategy, which is geared to long-term success, Komax aims to create sustainable value. This approach also benefits Komax shareholders in the form of an attractive dividend policy and corresponding stock market valuation.
Komax focuses systematically on the wire processing business, and seeks to implement four key strategic priorities in four market segments.

Market segments and Komax Academy

Komax focuses on four market segments. The core business is the automotive market segment, which accounts for some 85%–90% of revenues. Komax is contin­uously strengthening its presence in the other three segments – aerospace, telecom/­datacom and industrial – and ­exploiting the synergy potential with the core business. All segments benefit from the global service network of the Komax Group and from service offerings such as the Komax Academy.

Market segments and Komax Academy

In addition to the core automotive market, Komax focuses on the aerospace, telecom/datacom and industrial market segments, exploiting synergy potential wherever possible.