ANNUAL REPORT 2004Back on the growth path: impressive increase in sales and earnings
The HUBER+SUHNER Group, a leading global supplier of components and systems for electrical and optical connectivity, had one of its most successful years ever in 2004. The company enjoyed a significant sales growth of 7.4% (rising to 12.5% if portfolio adjustments and currency effects are taken into account) to CHF 560.8 million, restored earnings power, and further improvement in its balance sheet. The two main objectives of a return to growth and increased profitability were more than met. Operating profit (EBIT) increased markedly once again from CHF 6.3 million to CHF 41.2 million. Net income rose from CHF 6.6 million to CHF 31.5 million, boosting the return on sales from 1.3% to 5.6%. The sound consolidated balance sheet was improved once again, with the equity ratio rising to 68.4% as at year end (prior year: 62.7%). Net cash jumped from CHF 2.9 million to CHF 53.2 million. The good result achieved in the year under review is confirmation that the program of restructuring and reorientation, which has now been fully implemented, was the right choice. In response to the positive performance, the dividend is to be increased from CHF 0.50 to CHF 2 per registered share.