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Company profile

Oerlikon is a global technology group with a clear mission: to become the leading provider of surface solutions, advanced materials and materials processing.

Oerlikon (SIX: OERL) engineers materials, equipment and surfaces and provides expert services to enable customers to have high-performance products and systems with extended lifespans.

Drawing on its key technological competencies and strong financial foundation, the Group is sustaining mid-term growth by executing three strategic drivers: addressing attractive growth markets, securing structural growth and expanding through targeted mergers and acquisitions.

A leading global technology and engineering Group, Oerlikon operates its business in two Segments – Surface Solutions and Manmade Fibers – and has a global footprint of more than 11 100 employees at 182 locations in 37 countries. In 2019, Oerlikon generated CHF 2.6 billion in sales and invested more than CHF 120 million in R&D.

Vision

Vision
  • Oerlikon creates innovative industrial solutions for a better life.

Mission

Mission
  • Oerlikon strives to be your most reliable business partner, worldwide.
  • We increase value through high-quality innovative industrial solutions, continuously.
  • We engage highly qualified professionals.

Our commitment is your success!

Core Values

Core Values
Integrity
  • Everything we build, we build on trust.

Team Spirit
  • I care about the team, the team cares about me.

Excellence
  • What we do, we do best.

Innovation
  • Ideas come from everybody and from everywhere in the organization.

Facts & Figures

  • Group sales: CHF 2.6 billion, up 1.1% organically, showing the strength of Oerlikon’s broad portfolio; reported sales, impacted by adverse currency movements, were down 0.6%
  • Group orders: CHF 2.6 billion, decrease of 5.2%, due to weakness in key markets
  • Group EBITDA margin before exceptional items was 15.1%; including exceptional expenses of CHF 25 million related to restructuring, reported EBITDA margin was 14.1%
  • Surface Solutions Segment EBITDA margin before exceptional items was 16.6%; including restructuring expenses of CHF 13 million, reported EBITDA margin was 15.6%
  • Manmade Fibers Segment continued strong execution; book-to-bill ratio > 1
  • Group net result: CHF -66 million, including the reclassification of CHF -284 million related to the divestment of the Drive Systems Segment
  • Proposing a dividend payout of CHF 1.00 per share, comprising an ordinary dividend of CHF 0.35 per share and an extraordinary dividend of CHF 0.65 per share
  • Outlook 2020: Assuming no further deterioration in geopolitical and market conditions, Group order intake and sales are expected to be between CHF 2.5 billion and CHF 2.6 billion and Group EBITDA margin before exceptional items to be between 15.0 and 15.5%. Expecting to spend additional CHF 25 million to CHF 35 million on the second phase of the productivity program to boost profitability and improve capital efficiency across the Group over the next 18 months. 2020 Group EBITDA margin after expenses for the program to be between 14.0% and 14.5%
  • Medium term: productivity program expected to yield significant improvements in operating profitability of the surface solutions business; Group EBITDA margin expected to improve to 16% to 18% in the medium term
  • Change of a board member affiliated to major shareholder

Key figures of the Oerlikon Group as of December 31, 2019 (in CHF million)

  FY 2019 FY 2018 Q4 2019 Q4 2018
Order intake 2 590 2 731 -5.2% 612 641 -4.5%
Order backlog 583 596 -2.2% 583 596 -2.2%
Sales 2 593 2 609 -0.6% 636 653 -2.6%
EBITDA 366 406 -9.9% 67 95 -29.5%
EBITDA margin 14.1% 15.6% 10.5% 14.5%
EBIT 164 243 -32.5% 14 53 -73.6%
EBIT margin 6.3% 9.3% 2.2% 8.2%
Result from continuing operations3 110 173 -36.4%
Net result -66 245 -126.9%
ROCE (rolling 12-month) 7.0% 12.1% 7.0% 12.1%

1 Includes exceptional expenses of CHF 25 million. Excluding exceptional items, the EBITDA margin was at 15.1%.
2 Includes CHF 284 million (noncash) cumulative translation differences and other items from other comprehensive income from the divestment of the Drive Systems Segment.

Five-year summary of key figures

in CHF million 2019 2018 2017 2016 2015
Order intake1 2 590 2 731 2 211 2 413 2 537
Order backlog1 583 596 496 447 431
Sales1 2 593 2 632 2 069 2 331 2 671
in CHF million 2019 2018 2017 2016 2015
EBITDA1, 2 366 406 322 334 338
– as % of sales1, 2 14% 16% 16% 14% 13%
EBIT1, 3 164 243 168 158 -306
– as % of sales1, 3 6% 9% 8% 7% -11%
in CHF million 2019 2018 2017 2016 2015
Net result3 -66 245 151 338 -418
– as % of equity attributable to shareholders of the parent3 -4% 12% 8% 21% -27%
in CHF million 2019 2018 2017 2016 2015
Cash flow from operating activities4 322 429 404 269 393
Capital expenditure for property, plant and equipment and intangible assets1 179 207 169 144 150
in CHF million 2019 2018 2017 2016 2015
Total assets 3 647 4 545 4 363 3 825 4 097
Equity attributable to shareholders of the parent 1 756 2 001 1 971 1 826 1 554
– as % of total assets 48% 44% 45% 48% 38%
in CHF million 2019 2018 2017 2016 2015
Net cash5 333 398 499 401 79
in CHF million 2019 2018 2017 2016 2015
Net operating assets6 1 826 1 523 1 949 1 867 1 875
Number of employees1 11 134 10 727 9 798 13 840 13 723
Personnel expenses1 822 782 681 796 785
Research and development expenditure1, 7 122 116 95 94 103

1 2019 continuing operations, 2018, 2017, 2016 and 2015 as reported.
2 2019 includes one-time effects of CHF -25 million (restructuring expenses of CHF -19 million and other expenses of CHF -6 million) and 2015 includes one-time effects of CHF -112 million (restructuring).
3 2019 includes one-time effects of CHF -25 million (restructuring expenses of CHF -19 million and other expenses of CHF -6 million) and 2015 includes one-time effects of CHF -588 million (restructuring expenses of CHF -112 million and impairment losses of CHF 476 million).
4 Before changes in net current assets.
5 Net cash includes cash and cash equivalents and marketable securities less current and non-current debt.
6 Net operating assets are defined as operating assets (total assets without cash and cash equivalents, current financial investments, current income tax receivables and deferred tax assets) less operating liabilities (total liabilities without financial and lease liabilities, current income taxes payable, non-current post-employment benefit liabilities and deferred tax liabilities). Due to the first time application of IFRS 16, operating assets increased per January 1, 2019 by CHF 171 million.
7 Research and development expenditure includes expense recognized as intangible assets.

Contact

OC Oerlikon Management AG

Headquarters

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