Development of key figures

Order intake and net sales

The Mikron Group reported order intake of CHF 412.1 million in 2023, representing another increase of 1.0% compared with the prior year (CHF 408.0 million).

Posting annual net sales of CHF 370.2 million, the Mikron Group exceeded the prior-year result of CHF 309.4 million by 19.7%. Europe remains Mikron’s most important market, with 59% (including Switzerland) of total net sales in 2023 (2022: 49% including Switzerland). Accounting for a share of 25%, North America remains in second place (previous year: 30%). The strongest market segment remains the pharmaceutical and medical technology sectors at 57% (previous year: 55%). The automotive industry contributed 7% (prior year: 12%) to total net sales.

Order backlog and capacity utilization

At CHF 304.3 million, the Mikron Group reported a high order backlog at the end of 2023, that was up 12.4% on the prior-year figure (end of 2022: CHF 270.7 million). Capacity utilization was high in all three divisions throughout the year.


In the 2023 financial year, the Mikron Group again improved its EBIT and profit figures. Compared with the previous year, Mikron increased its EBIT from CHF 26.4 million to CHF 35.3 million (+33.7%). It includes a one-off positive effect of CHF 2.2 million resulting from the sale of a non-operating property in Nidau (Switzerland). The Group thus achieved an EBIT margin of 9.5% for 2023 (2022: 8.5%). The profit increased from CHF 24.2 million to CHF 28.8 million (+19.0%). Profit per share for 2023 came to CHF 1.73 (prior year: CHF 1.47). The Mikron Group’s return on net assets (RONA) for the 2023 financial year is an impressive 23.8%.

Financial result, income taxes and profit

The financial result decreased compared to the previous year and amounted to CHF -1.3 million (2022: -0.8 million), CHF -1.5 million of which was related to net exchange rate losses (prior year: CHF -0.3 million). The interest on fixed-term deposits to optimize financial results were netted against other financial expenses such as fees for bank guarantees. Profit before taxes amounted to CHF 34.0 million (prior year: CHF 25.6 million), on which income taxes of CHF 5.2 million (prior year: CHF 1.4 million) were booked.

Investment property

In the first quarter of 2023, the Mikron Group sold its non-operating property at  Ipsachstrasse 14/16 in Nidau (Switzerland). The property sale had a one-off positive effect of CHF 2.2 million on the Group’s EBIT. Overall, the non-operating property in Nidau contributed CHF 1.8 million to the Group’s EBIT.

Balance sheet, financing and equity ratio

Overall, the Mikron Group’s balance sheet remains very strong. Mikron is free of net debt and re­ports a healthy equity ratio.

Cash and cash equivalents plus current financial assets of CHF 84.1 million significantly exceeded the total interest-bearing liabilities of CHF 3.8 million. The net cash position remained at a high CHF 80.2 million or 22% of net sales (prior year: 19%).

Net working capital rose to CHF 31.6 million from CHF 6.3 million in the prior year.

Totaling CHF 102.8 million, non-current assets decreased by CHF -30.9 million, mainly related to the sale of the non-operating property. In line with strategy, investments of CHF 9.0 million (prior year: CHF 8.7 million) were made in production equipment and a number of IT projects to improve efficiency and security. The total amount of expenditure for new product development and enhancements (capitalized and non-capitalized) was about 2.0% of net sales. Amortization and depreciation totaled CHF 9.0 million (prior year: CHF 8.6 million). The long-term financial liabilities of CHF 2.6 million mainly relate to finance leases for production equipment and the mortgage for one production facility.

Mikron has a credit agreement with a banking syndicate in the amount of CHF 90.0 million, which is available for bank guarantees to secure customer prepayments and for fixed advances that are not currently utilized. The credit agreement will expire at the end of June 2025. It requires Mikron to achieve certain key financial figures (covenants). The Group met these by a comfortable margin. The renewal of the credit agreement has been secured with the existing partner banks.

In 2023, shareholders’ equity rose to CHF 203.8 million (end of 2022: CHF 186.0 million). This represents a strong equity ratio of 54.5% (prior year: 53.8%, with a higher balance sheet total).

Cash flow

Cash flow from operating activities stood at CHF 10.5 million (2022: CHF 27.6 million). A total of CHF 9.1 million (prior year: CHF 11.4 million) was used for investments in non-current assets.

The operating free cash flow after investing activities of CHF 19.4 million, including the sales of the non-operating property (including changes in financial assets and interest received), amounted to CHF 29.9 million (prior year: CHF 16.6 million).

Cash flow from financing activities amounted to CHF -10.0 million in the year under review (prior year: CHF -6.1 million).

Distribution to shareholders

At the General Meeting on April 23, 2024, the Board of Directors of the Mikron Group will propose a distribution to the shareholders of CHF 0.50 per share (previous year: CHF 0.40).

Share performance

At the end of 2023, the share price stood at CHF 15.30 (prior year: CHF 8.80 per share). The precise share performance is available at all times on the Mikron Group website. Based on the year-end share price, the Mikron Group is valued at CHF 255.7 million.

Corporate Financial Statements of Mikron Holding AG

Mikron Holding AG is the legal owner (directly or indirectly) of all subsidiaries of the Mikron Group, the owner of the Mikron trademark, and the treasury center for the Mikron Group. The CEO, CFO and a small Group finance team are employed by the separate management company, and costs are charged back to Mikron Holding AG. Excluding the net finance result of CHF 5.1 million (prior year: CHF 4.6 million), the trademark fees charged to the companies nearly covered the costs incurred. In the 2023 financial year, dividend income of CHF 0.1 million from subsidiaries was booked (2022: none).

The financial statements of Mikron Holding AG show a very high equity ratio of 67.2%.