By Nina Kienle

Shares in OC Oerlikon traded higher on Tuesday after the Swiss materials manufacturer's net profit for 2024 rose.

In morning trading in Europe, shares rose 8.6% at 4.19 Swiss francs, up 19% year to date.

Oerlikon posted a net profit of 66 million Swiss francs ($73.3 million), up from the prior year's 33 million francs when it was hit by one-off charges.

However, group orders, sales and earnings before interest, taxes, depreciation, and amortization were hit by weak automotive and tooling markets, as well as the continued downturn in the polymer processing solutions segment, the company said.

Operational Ebitda fell to 393 million francs from 444 million francs, with a slight margin increase to 16.6% from 16.5%.

Sales fell 12% on year to 2.37 billion francs, and order intake dropped 3.5% to 2.37 billion francs.

The board will propose an ordinary dividend payout of 0.20 francs a share.

The company also appointed Dirk Linzmeier as its new chief operating officer and member of the executive committee, effective April 1. Linzmeier will succeed Markus Tacke, it said.

As of Jan. 1, the Manmade Fibers business operates as a stand-alone subsidiary, the company said.

"In 2024, we successfully navigated short-term market headwinds by launching new products, driving cost discipline, and improving efficiency. These efforts position us to emerge stronger when markets recover," Chief Chairman Michael Suess said.

For 2025, the company expects organic sales at constant foreign exchange rate to be stable or to increase by a low single-digit percentage and an operational Ebitda margin at around 15.5%.

Write to Nina Kienle at nina.kienle@wsj.com

(END) Dow Jones Newswires

February 18, 2025 03:32 ET (08:32 GMT)

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