The Micronas Group recorded a drop in net sales and an operating loss for the second quarter of 2007. This downturn was due to cost pressure affecting the Consumer division. Consolidated net sales for the quarter amounted to CHF 171.2 million, a fall of 5.5 percent on the first quarter. Sales and operating profit in the Automotive division were on a par with the previous quarter. In view of the persistence of the adverse trading conditions facing the Consumer business, all the strategic options available to secure the Group's future will be reviewed in the coming months. Consolidated net sales for the first half-year amounted to CHF 352.3 million.
The slump in prices in the consumer market and the resulting cost pressures led to an operating loss before interest and taxes (EBIT) of CHF 23.4 million for the second quarter. The Consumer division contributed CHF 36.6 million to the operating loss for the period, on sales of CHF 118.1 million. The Automotive division, by contrast, generated an operating profit of CHF 16.6 million for the period, on sales of CHF 53.1 million. For the Group as a whole, the second quarter resulted in a loss of CHF 11.1 million; the operating loss for the first half of 2007 amounted to CHF 21.1 million.
