Von Roll Holding AG

EQS-Adhoc: Von Roll Holding AG: First half-year results 2016


EQS Group-Ad-hoc: Von Roll Holding AG / Key word(s): Half Year Results
Von Roll Holding AG: First half-year results 2016

25.08.2016 / 07:00
Release of an ad hoc announcement pursuant to Art. 53 KR.


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Von Roll Holding AG: First half-year results 2016

Au/Wädenswil, 25 August 2016 - There were no significant changes in the relevant
market segments compared with the previous year. Market recessions had a
negative impact, and weak sales led to an operating EBIT of CHF -5.4 million as
against CHF -6.6 million in 2015. Although the loss was reduced year on year,
the overall result clearly does not meet expectations.

The actions taken within the transformation strategy, such as consolidating
plants and launching new products, have already begun to bear fruit:

- Gross profit increased by 11.1% year on year despite weak sales.

- The gross margin rose from 16.3% to 19.7%.

- The cost-cutting programmes that were launched last year and that have already
been implemented resulted in savings as intended.

In the largest segment, Insulation, the gross margin increased in all product
areas, confirming the benefits of the transformation process and sending out a
positive signal for the future. In addition, the power generation market segment
stabilised. Sales were weaker in the high-voltage motors and fire-resistant
cables sectors. Both markets are heavily dependent on the crude oil price, which
means a noticeable decline in orders from the oil- and gas industry. In the
Insulation segment the operating EBIT increased from CHF -4.0 million to CHF 0.8
million.

By contrast, the Composites segment posted disappointing results, with both
sales and operating EBIT down on the previous year. This was primarily due to a
lack of orders in the ballistics and aluminium smelter segments.

The results for the first half of the year show that there is still a long way
to go in improving the operating business. The transformation and focus on new
growth segments such as electromobility and wind power, as well as the
adjustment of capacity levels are not yet complete. As a consequence of the site
closures towards the end of 2015, the number of positions was reduced by 13.5%
compared with the previous year.

As announced in early July 2016, further measures are planned to save CHF 18
million in costs from 2017 onwards. Savings of around CHF 4 million are already
expected for the second half of 2016, while restructuring costs will amount to
some CHF 8 million. The refinancing of the bond to be redeemed in October 2016
has been secured.

Further information can be found in the Semi-Annual Report 2016. This is
available in digital form athttp://www.vonrollgroup.com/en/.

 

Key figures

                                                     

in CHF 1,000                        1H 2016 1H 2015 Change

Order intake                        172,385 190,967 -9.7%

Net sales                           174,098 189,097 -7.9%

Thereof Insulation                  118,979 124,344 -4.3%

Thereof Composites                  51,309  58,173  -11.8%

Thereof other activities            3,810   6,580   -42.1%

EBIT                                -5,384  -6,557  17.9%

Net income for the period           -11,134 -15,939 30.1%

Cash flow from operating activities -12,583 -16,822 25.2%

Equity ratio (%)                    14%     22%     -8 ppt

Number of employees (FTE)           1,856   2,146   -13.5%
 
About Von Roll Holding AG: As a Swiss industrial company Von Roll Holding AG
focuses on products and systems for power generation, transmission and storage.
Von Roll is a global market leader for electrical insulation products, systems
and services and has a worldwide presence in about 28 sites in 15 countries with
1,856 employees.

Contact:
Claudia Güntert, Corporate Communications
T: +41 44 204 35 29, F: +41 44 204 30 07, E: press@vonroll.com

This press release is based on information currently available. Unforeseeable
risks and influences may lead to discrepancies with the statements made here.
Furthermore, rounding differences may lead to discrepancies in the reported
figures. 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 athttp://www.vonrollgroup.com/en/.

End of ad hoc announcement

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25.08.2016 News transmitted by Tensid EQS AG. www.eqs.com

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Language: English

Company:  Von Roll Holding AG

          Steinacherstr. 101

          8804 Au

          Switzerland

Phone:    +41 44 204 3500

Fax:      +41 44 204 3007

E-mail:reception@vonroll.com

Internet: www.vonroll.com

ISIN:     CH0003245351

Listed:   Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart;
Open Market in Frankfurt ; SIX


End of News EQS Group News Service
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