The maxon Group set a new sales record in the 2019 financial year, despite a noticeable global economic slowdown. Cash flow fell to 44.9 million Swiss francs. (previous year: 55.7 million), which is attributable to the Swiss franc regaining strength against the euro, goodwill amortization at the UK company Parvalux, which was acquired in 2018, and the conversion of Group-wide IT to the new next-generation ERP solution.

"We also invested a lot of time and money in 2019 to make the Maxon Group fit for the future," says Karl-Walter Braun, main shareholder. "Thanks to our healthy financial situation, we were able to make all investments from our own funds. We are constantly adapting the Group's organization to the new size of the company in order to be able to handle future growth," says Karl-Walter Braun.

Pilot project with certificate of competence
Compared to the previous year, the number of employees increased by 125 to 3,050. 15 apprentices have successfully completed their apprenticeship. Since 2018, Maxon has also been offering employees the opportunity to obtain a federal certificate of proficiency as an automation fitter. "The vocational school class started in 2018 with eight employees aged between 25 and 50, many with a migration background and families," says Braun. The training program, which Maxon launched together with the canton of Obwalden and in which more than 20 employees are now taking part, is the first pilot project of its kind in Switzerland.

maxon has been investing a high single-digit percentage of its turnover in research and development for years. In 2019, investments amounted to more than 38 million Swiss francs. "Around 340 R&D employees ensure that we are constantly developing and innovating. We have long since ceased to be a pure electric motor manufacturer, but are continuously developing into a provider of complete mechatronic drive systems consisting of precision electric motors, high-performance gearboxes and intelligent control electronics," says Eugen Elmiger, Delegate of the Board of Directors and CEO.

The company benefits from the fact that "we can design and produce gearboxes, electric motors and control electronics ourselves within the Group," says Elmiger. This has enabled Maxon to act flexibly and quickly "to develop, manufacture and supply motors for ventilators and linear drives for laboratory automation for evaluating corona tests," says Elmiger.