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Von Roll Holding AG
Earnings Release • Mar 16, 2017
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Earnings Release
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News Details
Ad-hoc | 16 March 2017 07:00
Von Roll Holding AG: Annual result for 2016
Von Roll Holding AG / Key word(s): Final Results
16-March-2017 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
Von Roll: Annual result for 2016
– EBIT for 2016 of CHF -20.1 million
– Adjusted for restructuring costs and impairments, the operating loss fell to CHF 6.2 million compared with CHF 17.2 million in the previous year
– The impact of the restructuring measures pushed up the gross margin by 3.3 percentage points in 2016
– Equity ratio rose to 27%
– Positive EBIT in the first two months of the new financial year
– combined with a healthy order intake
Au/Wädenswil, 16 March 2017 – Von Roll Holding AG today published its results for the financial year 2016. Thanks to optimisation measures and the consolidation and modernisation of production facilities, Von Roll improved its operating performance in 2016 and increased its gross margin by 3.3 percentage points year on year, as well as reducing its operating loss. Adjusted for restructuring costs and impairments, the EBIT for the past financial year was CHF -6.2 million, as against CHF -17.2 million in 2015.
In response to declining sales of CHF 328.1 million in 2016, the efforts to reposition the Von Roll Group were significantly boosted and accelerated in the second half of the last financial year. These measures include optimising our product portfolio, reducing our personnel and administration costs and streamlining our organisation. We are also focusing on optimising purchasing conditions and reorganising our global sales structure. The restructuring costs and impairments of CHF 13.9 million incurred for the reasons mentioned above led to an overall EBIT of CHF -20.1 million.
The restructuring measures will produce savings of more than CHF 18 million in our total underlying costs in the financial year 2017. We are also expecting further positive contributions to our result from the programmes launched in 2017 to increase efficiency in our sales and production.
Von Roll posted a positive net result in the first two months of the new financial year. Based on our solid order intake, we are also confident about the rest of the year. Von Roll insulation systems for the construction of high-voltage motors and generators remain one of the leading and most popular system solutions on the market. Our global presence and proximity to our customers enable us to offer tailor-made, customised solutions, for which we continue to see great market potential.
For further details, please refer to the Annual Report 2016, which can be viewed online at http://www.vonrollgroup.com/en/media–investor-relations/reports-and-publications/finance-reports/ .
| Key figures | |||
| in CHF 1,000 | 2016 | 2015 | Change |
| Order intake | 335,729 | 356,603 | -5.9% |
| Net sales | 328,110 | 354,806 | -7.5% |
| thereof Insulation | 220,915 | 234,268 | -5.7% |
| thereof Composites | 98,231 | 112,006 | -12.3% |
| thereof Other activities | 8,964 | 8,532 | +5.1% |
| EBIT | -20,063 | -23,035 | +12.9% |
| Net income for the period | -30,290 | -34,875 | +13.1% |
| Cash flow from operating activities | -10,453 | -14,359 | +27.2% |
| Equity ratio | 27% | 18% | +9 ppt. |
| Number of employees (FTE) | 1,703 | 2,002 | -14.9% |
About Von Roll Holding AG: As a Swiss industrial company, Von Roll Holding AG focuses on products and systems for power generation, transmission and distribution. Von Roll is a global market leader for electrical insulation products, systems and services and has a worldwide presence in 29 sites with around 1,700 employees.
Contact:
Claudia Guentert, Corporate Communications
T: +41 44 204 3529, F: +41 44 204 3007, E: [email protected]
End of ad hoc announcement
| Language: | English |
| Company: | Von Roll Holding AG |
| Steinacherstr. 101 | |
| 8804 Au | |
| Switzerland | |
| Phone: | +41 44 204 3500 |
| Fax: | +41 44 204 3007 |
| E-mail: | [email protected] |
| Internet: | www.vonroll.com |
| ISIN: | CH0003245351 |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart; Open Market in Frankfurt; SIX Swiss Exchange |
| End of Announcement | EQS Group News Service |