We are back on the growth track - CEO of Uster

Uster Technologies AG, the leading high technology instrument manufacturer of products for quality measurement and certification for the textile industry, announced sales of CHF 132.8 million in FY 2010, an increase of 31.8% compared to the prior year figure of CHF 100.8 million. Growth was driven by significantly improved overall economic conditions in all major markets and the recovery in textile machinery investments spearheaded by the Asian markets, most notably China.

The Group further strengthened its strong market position and delivered impressive margins. EBITA reached CHF 34.6 million (2009: CHF 22.7 million) improving the margin to 26.0%. The Group's net result amounted to CHF 20.8 million (2009: CHF 1.2 million). It was enhanced by one-off effects arising from the resolution of tax issues from earlier years. In 2010, Uster Technologies Ltd further decreased its net debt to CHF 76.5 million thereby demonstrating the Company's strong cash generation power.

In 2010, the textile industry experienced a sharp recovery. At the same time raw material prices, especially cotton, and yarn prices increased compared to their levels at the beginning of the year. The result was further emphasis on the importance of quality and enhanced interest in measuring and testing systems. This positive development was supported by an improvement in credit and trade financing terms for the Group's customers in all major markets. China continued to be the leader in the textile industry whilst the mid-Asian markets including India, Turkey, Bangladesh and Pakistan recovered from the economic instability of previous years.

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