Article by: Bystronic
The shares of Bystronic AG today are being traded for the first time on Swiss Stock Exchange (SIX) under the BYS ticker symbol. Following the name change from Conzzeta AG to Bystronic AG, the global supplier of complete solutions for the sheet metal processing industry also intends to establish itself on the capital market as an independent and future-oriented company.
Niederönz, May 3, 2021 – At the Annual General Meeting on April 21, 2021, the share-holders of Conzzeta AG (“Conzzeta”) approved the change of name to Bystronic AG (“Bystronic”). The name change is the result of the strategic realignment of the Conzzeta Group. Today, the shares of Bystronic (ticker symbol: BYS) are being traded for the first time on SIX Swiss Exchange.
The Board of Directors of Conzzeta AG appointed Bystronic’s Executive Committee as of this date. Operational responsibility for Bystronic will be held by: Alex Waser as CEO (Swiss, 1967, with Bystronic since 2013), Beat Neukom as CFO (Swiss, 1970, as of May 2021), Johan Elster as President Region EMEA (Norwegian, 1964, since 1996), Robert St. Aubin as President Region Americas (American, 1956, since 2010), Norbert Seo as President Region APAC (German, 1964, since 2015), Dr. Song You, PhD, as President Region China (American, 1970, since 2016) and Eamon Doherty as Chief Service Officer (Irish, 1968, since 2016).
By pursuing its growth strategy, Bystronic aims to further expand its leading position as high-tech solutions provider for the sheet metal processing industry: New smart factory software solutions meet the growing demand for automation and digital processes and support customers with the networking of their manufacturing processes. The company intends to open up new fields of application, strengthen its position in the individual regions and increase its focus on services. As a result, Bystronic’s market share is to continue to grow organically, by means of strategic partnerships and based on targeted acquisitions.
As already communicated on occasion of the Capital Markets’ Day on November 25, 2020, Bystronic is aiming for an annual organic sales growth of 5 to 8 percent in the medium term (baseline year: 2019). By the end of the strategy period (2025), revenues are thus projected to increase to approximately 1.3 billion Swiss francs. The company has also set itself a profitability target with an EBIT margin in excess of 12 percent. Thanks to a capital-efficient business model, a return on net operating assets in excess of 25 percent is to be achieved. The service business is to grow from 19 percent (2019) to 26 percent of total revenues by 2025.
Alex Waser, CEO of Bystronic, states: “Today is a special day for Bystronic and all our employees. I am very proud of the entire Bystronic team and their commitment to implementing our ’Strategy 2025`. We look forward to demonstrating that Bystronic is a modern, sustainably managed and agile company, and we share this moment with our employees, customers, investors, partners, and other stakeholders.”
Ernst Bärtschi, Chairman of the Board of Directors of Bystronic, states: “On behalf of the entire Board of Directors, I would like to sincerely thank the Conzzeta team and all employees involved and congratulate them on the successful completion of our transformation – towards a company with a focus on high-tech solutions for the sheet metal processing industry. We all wish Bystronic a great start and, as a company now listed on SIX, continued success with the implementation of its ambitious growth strategy.”