Metall Zug Group's turnover up by 1.4%
The Metall Zug Group has been able to increase its turnover by 1.4% over the course of 2011, resulting in company earnings of CHF 96.7 million, slightly below the figure achieved in 2010.
In all, the company's turnover amounted to CHF 864.2 million in 2011, compared with CHF 852.3 million in 2010. As to earnings before interest and taxes (EBIT), this amounted to CHF 96.7 million and was much as expected, just failing the reach last year's record amount of CHF 105.4 million.
As a result of the negative development on the financial markets, income fell by CHF 21.5 million leading to a lowering of the group earnings to CHF 63.4 million, compared with CHF 92.3 million in 2010.
However, as a result of the stable performance of the company, the board is recommending an unchanged dividend of CHF 5.50 per nominal share series A and a CHF 55 dividend per nominal share series B. If the general meeting approves this proposal, it will mean that some CHF 24.8 million will be paid out.
The Metall Zug Group employs some 3000 employees in 4 main divisions which include the V-Zug household appliance brand, the Swiss market leader in its field, and Belimed, the supplier of cleaning, disinfectant and sterilisation equipment. Furthermore, Metall Zug owns the Schleuninger Group, which is a leading manufacturer of automatic and semi-automatic high precision wire processing machines as well as the MZ Immobilien AG property company, which manages some 3000 rented and other properties including the Parkhotel in Zug. What is more, it own the majority of shares in the Metalli Shopping Centre in the city centre.