Canon ( Switzerland) Ltd : Consolidated semi-annual financial statements 2009

Dietlikon, 31 August 2009 - In a difficult economic environment Canon (Switzerland) Ltd suffered a 12% decline in turnover in the first six months of 2009, while cost savings resulted in improved earnings.

The general reluctance to spend was reflected in a diminished demand for printing and copy equipment. The decrease was only slightly compensated by the revenue generated by a stable copy volume from service contracts.
An updated product line in the digital camera segment caused total sales of the consumer business unit to increase moderately over the prior year level.

The margin improved from 50% to 55% due to temporarily currency-related lower purchasing costs and a higher share of the services segment in total sales. Cost-saving measures were taken at an early stage and as a result, operating expenses decreased by 11%. These steps also contributed to boosting the profit for the period to CHF 6.1 million.

In view of the restrained economic outlook, sales are expected to continue declining and therefore it cannot be excluded that the earnings situation will deteriorate in the second half of the year.

Semi annual report 2009 [PDF, 142 KB]

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Press Release [pdf] [PDF, 98 KB]
Semi annual report 2009 (pdf) [PDF, 142 KB]