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11 Summary/Outlook DOTTIKON ES Group Annual Report 2011/12
Dear Shareholder,
We are pleased to present the DOTTIKON ES Group's Annual Report for the business year from
April 1, 2011, to March 31, 2012. Contrary to the original expectation, net sales and inventory of
semi-finished and finished goods were increased slightly in the reporting period compared with
the previous year, due to operating more successfully in a slightly improved market environment.
In combination with the ongoing rigorous cost discipline, next to others the structural
adaptation of personnel costs, the business year 2011/12 closed with a considerably lower net
loss than in the previous year. Cash and cash equivalents and fixed deposits were kept at a high
level due to considerably reduced investment activity. This was in spite of the significant
decrease in operating cash flow that resulted from markedly lower inflow of trade receivables,
based on the weak course of business in the previous period and increasing inventories due to
the improved course of business. An unchanged solid base therefore remains from which to
meet the challenges of the recovery that has now commenced, within an environment that continues
to be characterized by great uncertainties.
KEY FIGURES, APRIL–MARCH
2010/11 2011/12 Changes
Net sales
EBITDA
80.1
4.9
81.0
11.7
+1.1%
+139.3%
EBITDA margin (in % of net sales) 6.1% 14.4%
EBIT A -9.8 -2.6 +73.4%
EBIT margin (in % of net sales) -12.2% -3.2%
Net income (net loss) A CHF million
A Reporting year 2011/12:
relative change to
absolute EBIT or net
loss of the previous
year, respectively
-7.1 -0.8 +89.0%
Net income (net loss) margin (in % of net sales) -8.8% -1.0%
Operating cash flow 30.4 3.8 -87.4%
Employees (FTEs, annual average) 422 418 -0.9%