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IR - Von Roll Holding AG: Von Roll with decline in sales and special effects in the first half-year

Company: Von Roll Holding AG Date: 2020-08-20 Language: English Register to download

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 News Details

Ad-hoc | 20 August 2020 07:00

#   

Von Roll Holding AG: Von Roll with decline in sales and special effects in the first half-year

Von Roll Holding AG / Key word(s): Half Year Results  

  

20-Aug-2020 / 07:00 CET/CEST  

Release of an ad hoc announcement pursuant to Art. 53 KR  

The issuer is solely responsible for the content of this announcement.  

  

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**Von Roll with decline in sales and special effects in the first half-year**

**– *Net sales of CHF 119.5 million***

***– Operating income before special effects slightly positive at CHF 0.5 million***

***– Cash flow from operating activities of CHF 1.6 million***

Breitenbach, August 20, 2020 – The ongoing Covid-19-crisis and the special effects from the two discontinued sites in France (Delle) had a negative impact on our results, particularly in the second quarter of 2020, leading to an operating income (EBIT) for the Von Roll Group of CHF -10.9 million. Before special effects from the discontinuation of the above-mentioned plants, a slightly positive operating result of CHF 0.5 million was achieved in the first half of the year.

After an initially solid performance in the first quarter, the massive restrictions imposed on global economic activities in connection with Covid-19 led to major challenges for all market participants. Although Von Roll was able to almost completely maintain its ability to deliver, demand decreased and resulted in net sales of CHF 119.5 million (1H 2019: CHF 154.8 million).

Taking into account the changes in the consolidated companies and exchange rate effects, the decline in sales amounts to around 12.3 % compared to the previous year. Thanks to all the structural adjustments made in recent years and careful cost management, a positive operating income (EBIT) of CHF 0.5 million before deconsolidation of the two plants in France was still achieved despite the current corona crisis.

The special effects, caused by the separation from the two French sites in Delle, resulted in a negative operating income (EBIT) of CHF -10.9 million (1H 2019: CHF 2.5 million). Group earnings after taxes (EAT) fell by the same proportion to CHF -15.0 million (1H 2019: CHF -0.6 million).

Cash flow from operating activities amounted to CHF 1.6 million (1H 2019: CHF -1.2 million). The equity ratio was 74.3%.

Based on its solid liquidity and high equity ratio, Von Roll is in a position to continue to compete in an uncertain and volatile market environment in the coming months.

|     |     |     |
| --- | --- | --- |
| **Key figures** |     |     |
| in CHF 1 000 | **1H 2020** | **1H 2019** |
| **Order intake** | **124,464** | **155,514** |
| **Net sales** | **119,509** | **154,754** |
| Thereof Insulation | 87,584 | 111,429 |
| Thereof Composites | 31,925 | 43,325 |
| **Earnings before interest, taxes, depreciation  <br><br>and amortization (EBITDA)** | **\-4,953** | **9,301** |
| **Operating income before deconsolidation** | **539** | **2,537** |
| **Operating income (EBIT)** | **\-10,947** | **2,537** |
| **Earnings after taxes (EAT)** | **\-15,046** | **\-557** |
| **Cash flow from operating activities** | **1,605** | **\-1,229** |
| **Equity ratio (%)** | **74.3%** | **71.9%** |
| Number of employees (FTE) | 1,054 | 1,252 |
|     |     |     |

***About Von Roll Holding AG:** As a Swiss industrial company, Von Roll Holding AG focuses on products and systems for power generation, transmission, storage and distribution. Von Roll is a global market leader for electrical insulation products, systems and services and has a worldwide presence in 12 production sites with around 1,100 employees. The company supplies customers in over 80 countries.*  

  

**Contact:**  

Claudia Güntert, Head of Corporate Communications & Investor Relations  

T: +41 61 785 52 36, F: +41 61 785 58 92, E: [investor@vonroll.com](mailto:investor@vonroll.com)

This press release is based on information currently available. Unforeseeable risks and influences may lead to discrepancies with the statements made here. For more information on the company and its business performance, please refer to the Annual and Semi-Annual Report of Von Roll Holding AG which is available in digital form at [https://www.vonrollgroup.com/en/](https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=53d96dc458907df3bf58683976b685d0&application_id=1120829&site_id=news_data&application_name=news) .

  

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End of ad hoc announcement

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|     |     |
| --- | --- |
| Language: | English |
| Company: | Von Roll Holding AG |
|     | Passwangstrasse 20 |
|     | 4226 Breitenbach |
|     | Switzerland |
| Phone: | 0041 (0)61 785 52 36 |
| E-mail: | press@vonroll.com |
| Internet: | www.vonrollgroup.com |
| ISIN: | CH0003245351 |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Munich, Stuttgart; SIX Swiss Exchange |
| EQS News ID: | 1120829 |

  

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| --- | --- |
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| End of Announcement | EQS Group News Service |

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