After an above-average dynamic first half of the year, net sales in the third quarter were also significantly higher than in the same period of the previous year. Order intake remained at a good level even in the usually weaker summer months.
Order intake of CHF 722.8 million after nine months was up 16 % on the previous year, net sales of CHF 685.4 million were 17 % higher. Organically, i.e. adjusted for currency and copper effects, sales growth was still at a high 14.4 %.
The continued positive development was broadly based both geographically and in the main markets. While the seasonal decline in the expansion of mobile communications networks was noticeable in the communication market, sales with communication equipment manufacturers increased significantly. In the transportation market, both automotive and railway submarkets again developed strongly, and sales in the industrial high-tech niches also increased significantly compared with the prior-year quarter.
Radio Frequency continues to grow
The Radio Frequency technology segment continued to develop positively in the third quarter. The aerospace and defense growth initiative again made a decisive contribution to this. The year-on-year increase after nine months was 13 % in order intake and 12 % in net sales.
Fiber Optics increase sales
As expected, the third quarter order intake in the Fiber Optics technology segment was affected by a seasonal decline in 4G/LTE rollouts in India. In contrast, order intake and net sales in the data center growth initiative increased significantly. After nine months, order intake was 7 % higher than in the previous year, while net sales increased by 6 %.
Low Frequency with continued strong growth
The Low Frequency technology segment was again characterised by a positive development also in the third quarter. After nine months, order intake was up 32 % year-on-year and net sales 37 %.
Outlook
Assuming a comparable currency situation, HUBER+SUHNER expects net sales of CHF 860 to 880 million for the full 2018 financial year. The EBIT margin for 2018 as a whole should be in the middle of the medium-term target range of 8 – 10 %.
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