— Business review — Consumer & Industrial review
Consumer & Industrial review
Robust performance in Industry despite sanctions. Double-digit growth in Beauty.
We provide high-quality products and great services tailored to our customers' demands within our Consumer & Industrial business area. The Industry market segment develops, manufactures and distributes two-component adhesive and sealant dispensers, cartridges, and mixers for use in the automotive, aerospace, construction, electronics, infrastructure, and general industrial sectors, as well as for the DIY market. The most important goods in our Beauty market segment are micro-brushes and applicators for eyes, eyelashes, lips, and facial make-up, which are marketed to a wide global customer base ranging from the most iconic names in the beauty business to emerging independent labels and regional companies.
Key figures
January 1 - June 30
|
millions of CHF |
|
2022 |
|
2021 |
|
Change in +/–% |
|
+/–% adjusted 2) |
|
+/–% organic 3) |
|
Revenue Industry |
|
79.2 |
|
78.5 |
|
0.9 |
|
–0.5 |
|
–0.5 |
|
Revenue Beauty |
|
69.5 |
|
61.9 |
|
12.2 |
|
15.8 |
|
15.8 |
|
Total revenue Consumer & Industrial 1) |
|
148.7 |
|
140.5 |
|
5.9 |
|
6.7 |
|
6.7 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Business area cost of goods sold |
|
–92.6 |
|
–83.2 |
|
–11.3 |
|
|
|
|
|
Business area gross profit |
|
56.1 |
|
57.3 |
|
–2.0 |
|
|
|
|
|
Business area gross profit margin |
|
37.7% |
|
40.8% |
|
|
|
|
|
|
1) Revenue from external customers.
2) Adjusted for currency effects.
3) Adjusted for acquisition and currency effects.
Revenue by market segment
H1 2022
Strong performance despite sanctions headwind
Revenue in our Industry market segment was CHF 79.2 million, a decrease of 0.5%, despite the headwinds resulting from the decision of the Polish government to place the medmix manufacturing facility in Poland under sanctions. While the issue is being addressed through relevant administrative and diplomatic channels, we have suspended manufacturing operations in Poland and reoriented our manufacturing capabilities in other locations, including Haag, Shanghai and Elgin, to meet the production requirements. With the expansion of our New Hampshire facility at the end of 2021, and production localization of specific products, the Industry market segment has increased its logistics footprint and proximity to US-based customers. Living our commitment to sustainability, our Ecopacc and greenLine™ product offerings have been favorably received by the market, providing us with a pioneering position in this sector. In addition to the celebration of the 100th anniversary of our medmix MK™ range, we were able to record three innovation milestones during the first half of 2022: the launch of the first cartridge with 100% recycled materials with our MIXPAC™ greenLine™ B‐System; the upgrade of our F-System with a 100% recycled greenLine™ bayonet ring; and the launch of the first new generation of MK 1-components dispenser with an improved look and feel.
Positive revenue development reflects market recovery supported by refurbished production facility
Our Beauty market segment delivered revenue of CHF 69.5 million, a growth of 15.8%. This market segment has now returned to pre-pandemic levels, due to the lifting of the related restrictions and the subsequent uptake in retail and duty-free shopping, as well as the return to entertainment venues and workplaces. The strength and diversity of our order pipeline also reflects the first successes from our expanded production facility in Germany.
This year medmix Beauty (under its brand GEKA) released its first sustainability report and we were delighted to be awarded a Supplier Engagement Rating (SER) of B by the Carbon Disclosure Project (CDP) for reducing the climate impact of our supply chain. This further demonstrates our commitment to the environment and sustainability.