Despite the continued difficult market conditions, the annual result of the drive specialist exceeds all previous ones. Maxon owes the 13.2 percent increase in sales to the strong growth in industrial automation and mobility solutions as well as the demand for medical technology in the fight against the corona pandemic. Maxon is investing around CHF 45.9 million in capacity expansion. The cash flow also reached a new record at CHF 77.4 million. Europe and Asia grew significantly, while the US and Swiss markets developed more subduedly compared to the previous year. In its anniversary year, the Maxon Group is creating additional jobs: the number of employees increases by 4.8 percent from 3059 to 3206 worldwide.

"The result for 2021 exceeds our cautious sales planning. Already at the end of 2020 things were looking up again for us after initially difficult quarters due to the pandemic. Since then we have been consistently in the profit zone," says Dr. Karl-Walter Braun, main shareholder and Chairman of the Board of Directors of the Maxon Group. During the global restrictions and logistical bottlenecks, Maxon maintains the supply chains. Some of the key components were purchased and stored at significantly higher prices. Braun adds: “There was a lot of catching up to do in the automotive industry, logistics, general industry and medical technology. The decisive factor for our success was that we reacted quickly and also somewhat boldly when components for our products (motors, transmissions and electrical controls) became scarce worldwide in order to be able to serve our customers. This means the highest level of commitment on the part of the employees."

Strong balance sheet extends to all product areas

The company continues to show innovative strength. Maxon invests CHF 46.9 million in R&D worldwide (previous year CHF 35 million). New projects and investments in research and development increase sales in the growing markets of mobility solutions by 25 percent and industrial automation by 15 percent. Maxon intends to further expand these successful business units of mobility solutions, industrial automation and the demanding medical technology and aerospace sectors. “We are launching numerous new drive systems and engines. One of our goals is to bring innovations to market even faster than before,” says Eugen Elmiger, CEO of the Maxon Group.

Satisfied outlook

Maxon is very satisfied with the current financial year. "Our order books are fuller than ever before," says Dr. Karl Walter Braun. "Supply chain difficulties persist around the world, but we are well prepared." Maxon expects another increase in sales despite some risks that 2022 will bring. “We are closely monitoring developments and reacting immediately if necessary,” says Braun.