The Schurter Group experienced two very different business developments in the year 2008. During the first half of the year sales remained on the same level as in the previous year. In contrast, sales dropped heavily during the last months of 2008 due to decreasing global demand. Sales in 2008 reached a level of 200.3 mill. CHF, which corresponds to a decrease of 5% compared to last year. Adjusted for exchange rate losses due to the very strong Swiss Franc, the decrease in sales is only marginal with 1.7%. Net profit decreased by 74% to a mere 1.9 mill. CHF.

2008 got off to a promising start for the Schurter Group with her 19 worldwide subsidiaries achieving good sales figures, although indications of the market’s growing lack of confidence had already begun to be detected. Following the summer months a decline in sales was experienced in all markets with sales in America and Asia very much affected by the decline. A significant part of the product portfolio has been affected by the decline in sales. The biggest division with Connectors, Circuit Breakers for Equipment and Fuses showed a sharp decline. However, with the Division Input Systems, which mainly supplies the European market, an increase in sales has been achieved.

The first months of 2009 have shown a continuing fragile demand for Schurter products. For that reason reduced hours have been introduced for most of the employees of the Schurter companies in Switzerland (Lucerne, Mellingen and Mendrisio) as well as in subsidiaries abroad. In some cases, early retirements have been agreed upon. Reduced hours came into effect at the beginning of March and April 2009 respectively ranging from 30 to 50% reductions.