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Earnings Release • Apr 17, 2020
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Earnings Release
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News Details
Ad-hoc | 17 April 2020 07:00
Conzzeta: Significant slowdown – consistent measures
Conzzeta / Key word(s): Quarterly / Interim Statement
17-Apr-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.
Interim information as of the end of Q1 2020
Significant slowdown – consistent measures
Zurich, April 17, 2020 – The Conzzeta Group posted net revenue of CHF 298.4 million for the first three months of 2020. Organically it was down 14.5% on the previous year. On the same basis, order intake in the Sheet Metal Processing segment dropped by 19.8%.
The downturn in business across all regions was primarily due to disruptions in the production and sales channels caused by the coronavirus pandemic. In the Sheet Metal Processing and Chemical Specialties segments, plants had to be shut down in China, Italy, France and partly the USA, amongst other things. In the Outdoor segment, closure of the retail stores meant the loss of the main sales channel.
| Change in % | ||||
| CHF m | 3M 2020 | 3M 2019 | reported | organic 1) |
| Group net revenue | 298.4 | 394.4 | -24.3 | -14.5 |
| Sheet Metal Processing | ||||
| Order intake | 169.7 | 222.2 | -23.6 | -19.8 |
| Net revenue | 173.8 | 207.9 | -16.4 | -12.6 |
| Net revenue of discontinued operations | ||||
| Chemical Specialties | 73.8 2 | 93.5 2 | -21.1 | -13.7 |
| Outdoor | 50.8 | 70.8 | -28.2 | -26.2 |
| Glass Processing | – | 22.4 | – | – |
1 At constant exchange rates and adjusted for changes in the scope of consolidation.
2 Incl. Schmid Rhyner (CHF 13.2 million 2019 and CHF 6.9 million 2020).
Staggered in time in the various regions, the majority of customers and employees is directly affected by the worldwide efforts to contain the pandemic. Conzzeta has introduced consistent measures to cushion the economic and social impacts, including by making use of the support mechanisms offered. The different business units are expanding their range of digital services and solutions in the current situation. With extensive liquid assets and a high equity ratio, Conzzeta is well positioned to implement important initiatives consistently and respond quickly and flexibly to future developments. From the sale of the Business Unit Schmid Rhyner as per the end of February 2020, Conzzeta expects a divestment gain of around CHF 45 million for the first half of 2020.
Inquiries
Michael Stäheli, Head Investor Relations & Corporate Communications;
Tel. +41 44 468 24 49; [email protected]
About Conzzeta
Conzzeta is a diversified Swiss group of companies. It stands for innovation, market orientation and an entrepreneurial approach. About 5,000 employees at more than 60 locations worldwide work in the Sheet Metal Processing, Foam Materials and Outdoor segments. In December 2019, Conzzeta announced a strategic focus on the Sheet Metal Processing segment and the sale of all its other activities. Conzzeta AG is listed on the SIX Swiss Exchange (SIX:CON).
End of ad hoc announcement
| Language: | English |
| Company: | Conzzeta |
| Giesshübelstrasse 45 | |
| 8045 Zürich | |
| Switzerland | |
| Phone: | +41 44 468 24 49 |
| Fax: | +41 44 468 24 53 |
| E-mail: | [email protected] |
| Internet: | www.conzzeta.com |
| ISIN: | CH0244017502 |
| Valor: | A117LR |
| Listed: | Regulated Unofficial Market in Berlin, Frankfurt, Stuttgart; SIX Swiss Exchange |
| EQS News ID: | 1023183 |
| End of Announcement | EQS Group News Service |