Ad hoc announcement pursuant to Art. 53 LR
The Phoenix Mecano Group is holding its first Capital Markets Day in Stein am Rhein today, with the Group giving an insight into the activities and strategic focus of its various business areas and announcing its strategic targets for the medium term (up to 2026).
Kloten/Stein am Rhein, 1 December 2022. CEO Rochus Kobler will present an in-depth insight into the activities of its various business areas and their strategic priorities, the Group's growth and profitability targets. Dr Gregor Langer, Managing Director of Rose+Krieger and head of the Automation Modules business area in the division Industrial Components, will set out how Rose+Krieger's products and solutions will play a key role in the smart production activities of the future. Dr Heinz Werner Rixen, head of the Enclosure Systems division, will describe how this division is increasingly becoming a provider of customised solutions, and Dr Josef Gross, head of the DewertOkin Technology Group division, will explain in a video interview why the drive systems business for comfort and healthcare furniture is set to continue growing despite a temporary dip in demand. Michael Jahn, Managing Director of Phoenix Mecano Komponenten AG in Stein am Rhein, will indicate, during a tour of the company, how a local presence and close ties with our customers make a vital contribution to value creation.
By offering appropriate products and solutions, all Phoenix Mecano Group business areas benefit from long-term megatrends such as digitalisation, automation and demographic change. The Enclosure Systems and Industrial Components divisions are pioneers in European markets in their respective niches, and their global network means that they are ideally placed to expand their market share around the world. The drive systems for comfort and healthcare furniture area (DewertOkin Technology Group) is focusing on increasing profitability and harnessing opportunities for growth. The industrial park in Jiaxing (China) which has now been completed boosts vertical integration, and innovation projects in the field of medical applications are expected to generate additional growth.
Given this background, Phoenix Mecano's management announces strategic medium-term targets up to 2026. At Group level, the target is to achieve average sales growth of 6-10% over an economic cycle, both organically and through acquisitions, as well as an EBIT margin of 8-12% and a return on capital employed (ROCE) of 15%.
With its industrial activities (Enclosure Systems and Industrial Components) Phoenix Mecano aims to grow faster than GDP in the long term and is targeting a double-digit EBIT margin. The DewertOkin Technology Group looks set to once again achieve double-digit growth and an EBIT margin in the high single digits.
The presentations can be found at: https://www.phoenix-mecano.com/en/investor-relations/presentations
About Phoenix Mecano
The Phoenix Mecano Group is a global player in the enclosures and industrial components segments and is a leader in many markets. Headquartered in Stein am Rhein, Switzerland, the Group employs around 8,000 people worldwide and generated sales of EUR 817 million in 2021. It is geared towards the manufacture of niche products and system solutions for customers in the mechanical engineering, measurement and control technology, medical technology, aerospace technology, alternative energy and home and hospital care sectors. Phoenix Mecano was founded in 1975 and has been listed on the Swiss stock exchange since 1988.
