Annual Report 2020


Conzzeta is a diversified Swiss group of companies. About 5,000 employees at more than 60 locations worldwide work in the Sheet Metal Processing, Chemical Specialties and Outdoor segments. In December 2019, Conzzeta announced a focused growth strategy for the Sheet Metal Processing segment and its plan to sell all other activities.

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Transformation of the Conzzeta Group

Having already completed the sale of the Glass Processing segment on April 1, 2019, Conzzeta announced its intention on August 9, 2019, to accelerate the development of the potential inherent in the remaining business portfolio, taking into account all options, and to decentralize management. This culminated in the announcement on December 9, 2019, to focus the Group on the Sheet Metal Processing segment (Bystronic) and to gradually sell the other activities, market conditions permitting. Already on December 20, 2019, it was announced that a binding agreement had been entered into to sell the Schmid Rhyner business unit, part of the Chemical Specialties segment, which was completed at the end of February 2020. On November 10, 2020, Conzzeta then announced the conclusion of a binding agreement to sell the FoamPartner business unit. The transaction is expected to be completed by the end of the first quarter of 2021, subject to regulatory approval. The sale of the Mammut business unit (Outdoor segment) is also in progress and is currently expected towards the middle of 2021, subject to market conditions.

Bystronic’s “Strategy 2025” and financial targets

The decision to focus on becoming a technology-oriented industrial company is aimed at concentrating Conzzeta on its own strengths and accelerating the development of the potential created in recent years. With a net revenue share of 62% in 2020, Bystronic was responsible for the Group’s entire adjusted operating result. The company is a leading global supplier of high-quality solutions for sheet metal processing. It covers the automation and integration of the entire material and data flow of the cutting and bending process chain. The portfolio includes laser cutting systems, press brakes as well as automation and software solutions, which play a central role in the global trend towards “smart factories”. Comprehensive services complete the portfolio. Conzzeta’s largest business unit by far has increased revenue at an annual average growth rate of 7.1% since the beginning of 2016, despite the slowdown in the industry since 2019 and the pandemic-related disruptions in 2020.

With around 3,000 employees worldwide, the company is well set up, operating in numerous markets with an efficient and effective local sales and service organization. Among other things, it has opened up additional market and earnings potential with innovative digital solutions. With its “Strategy 2025”, which was presented at a virtual Capital Markets Day on November 10, 2020, Bystronic intends to grow profitably and at an accelerated rate, with improved customer proximity and new technical solutions and services.

Bystronic also aims to gain market share with its first-class sheet metal processing solutions. The strategy’s objectives also include,

The newly launched products and solutions were presented to customers at regional Competence Days in the second half of 2020, and in part also at the Capital Markets Day. With the implementation of its strategy, Bystronic aims to achieve the following financial targets by 2025:

Bystronic’s “Strategy 2025”


Further steps in the transformation process and outlook

Conzzeta’s transformation has not only involved focusing of the business portfolio, but also adapting elements of corporate governance and changing the name from Conzzeta to Bystronic. With this in mind, during the transition year of 2020 various foundations were laid and preparations were made for organizational changes that will be implemented over the course of 2021. This includes defining the Group roles that will be required at Bystronic in the future, taking into account Conzzeta’s available experience. A new management structure with a regional focus has been developed for Bystronic. With the sale of the discontinued businesses, the current management structure for a Group with very different business activities is no longer required, which is why the Executive Committee has announced that it will resign at the Annual General Meeting on April 21, 2021. From April 22 onwards, Bystronic’s Executive Committee, as newly appointed by the Board of Directors, will have operational responsibility. The change of name is also on the agenda for the General Meeting. Subject to approval by the general meeting, the company’s listed registered shares will be traded on SIX Swiss Stock Exchange under the ticker symbol BYS from the beginning of May 2021. Finally, with the Half-Year Report 2021, external reporting will also be adjusted and changed to align with reporting within Bystronic’s new management structure.

Priorities, targets, performance


Market orientation

The focusing of the business portfolio follows a realistic assessment of the company’s own capabilities. Bystronic holds a strong market position with medium- and smaller-sized customers. The company also has the critical size to emphasize its mark in a dynamic market with innovation and to strengthen its presence in the growth regions. The areas to be sold lack the global market access to be able to survive in competition in the long term. 


Bystronic is striving to develop its potential increasingly in the growth regions outside the European home markets. Bystronic has thus introduced a regional management structure as of the beginning of 2021 in order to be able to make decisions locally and closer to the market. The prospect of extended market access for the development of potential also plays a central role in the assessment of suitable buyers for the discontinued operations.

Employee development

Bystronic strives to be an attractive employer for talents from all over the world, at all career levels, and to offer interesting development opportunities. As such, Bystronic fosters a culture of lifelong learning with targeted training, further education and coachings. Employees should be able to develop in a targeted manner based on a clearly defined competency model, for which various talent development and leadership programs are being offered.

Business excellence

Bystronic strives for targeted development and continuous improvement with excellence programs based on the Six Sigma methodology. The common understanding of the importance of end-to-end considerations as well as holistic approaches are important foundations in the increasingly also cross-divisional international cooperation for the implementation of strategic initiatives and ongoing efficiency improvements.

Financial targets 

Net revenue

As part of its “Strategy 2025”, Bystronic is aiming for organic growth of 5% (over the cycle from 2019 onwards). Additional impetus for growth will come from targeted acquisitions, along with systematic efforts to strengthen the market position and expand market share.

Operating result

As part of its “Strategy 2025”, Bystronic is striving for an EBIT margin of over 12%. For the implementation of the strategy, increased costs are expected in an initial phase from 2021, resulting in an EBIT margin of 8% to 10% for this phase.

Capital efficiency

As part of its “Strategy 2025”, Bystronic is striving for a return on net operating assets (RONOA) of over 25%. In the initial phase of strategy implementation starting in 2021, a RONOA of between 15% and 25% is expected.

Business Review Group Editorial

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