Burckhardt Compressor Orders Climb 12%
Tuesday, June 05, 2012
Burckhardt Compression AG booked 12% more orders during the fiscal year ending Mar. 31, and although sales were down 8%, operating profit and net income increased.
The Swiss firm’s totaled CHF404.9 million of orders in fiscal 2011. It said new orders have risen steadily since hitting a low in the second half of fiscal year 2009. Sales were down 7.5% at CHF328.9 million.
Gross profit increased 5.8% to CHF122.3 million, operating profit 5.4% to CHF64.8 million, and net income 12% to CHF 50.5 million.
Burckhart’s board has drafted a plan to expand the service and components business, enter new application areas and broaden its geographic footprint. It also is regrouping its activities into two business areas: compressor systems/components and services/support.
Burckhardt predicted fiscal 2012 sales will be substantially higher (due to the high order backlog) but operating profit margin will fall due to a lower average margin on compressor systems that will be delivered during the period.
For more information: www.burckhardtcompression.com