Oerlikon: Good results for 2020 despite Covid...
Oerlikon

Good results for 2020 despite Covid-19

Oerikon Manmade Fibers

In an extraordinarily challenging year 2020, the technology group Oerlikon Management AG, Pfäffikon/Switzerland, delivered resilient results. While the Manmade Fibers Division delivered stable results, the Surface Solutions Division felt the impacts of pandemic-weakened end markets, particularly in the aerospace sector.

Sales of Manmade Fibers Division decreased slightly by 4.0% to CHF 1.061 billion. After securing record wins for filament equipment at the beginning of 2020 (total value of more than CHF 600 million), the Division proved to be highly resilient for the remainder of the year, even after the outbreak of Covid-19. The nonwovens business benefited from the unanticipated surge in demand for protective wear and masks. Year-on-year, order intake decreased slightly by 2.3% to CHF 1.097 billion compared to CHF 1.122 billion in 2019. Operational EBIT for the Manmade Fibers division in 2020 was CHF 120 million (2019: CHF 119 million), or 11.3% of sales (2019: 10.8%).
Sales and orders for man-made fibers systems both exceeded CHF 1 billion for the year, and the Division has full order books for filaments and nonwovens equipment for the next 2 years and the books are being filled into 2023.

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