Von Roll Holding AG

DGAP-Adhoc: Von Roll Holding AG: Annual result for 2013

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

18.03.2014 07:00

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

Von Roll: Annual result for 2013

  - Net sales of CHF 472.5 million

  - Order intake of CHF 475.8 million

  - EBIT of CHF - 27.0 million

Au/Wädenswil, 18 March 2014 - Von Roll Holding AG today published its
results for the 2013 financial year, an eventful and turbulent one for the

The economic environment continued to be plagued by uncertainty and
volatility in 2013. In particular, the framework conditions and thus demand
too were persistently weak in Europe and India. While in Europe it was
primarily the debt reduction programmes that curbed demand for
infrastructure projects, the main factors in India were the upcoming
elections and a weak currency.

Order intake for the financial year 2013 totalled CHF 475.8 million
compared to CHF 505.1 million in the previous year. At CHF 472.5 million,
the Group's net sales fell by 4.9% compared with 2012. However, the
operating loss reduced by CHF 26.6 million to CHF 27.0 million (2012: CHF
53.6 million). EBIT stood at CHF - 27.0 million, mainly due to the CHF -
22.3 million result posted by the transformer business. The sales trend in
the regions was influenced by the economic environment to varying degrees.
In the Americas region, sales fell slightly by 2.5% or CHF 3.1 million to
CHF 123.7 million. Persistently weak markets in Europe pushed sales lower
by 5.1% to CHF 245.9 million. In Asia, sales fell by CHF 8.1 million to CHF
102.9 million, due above all to the situation in India.

The electrical power generation sector is not seeing any major signs of a
recovery. The only market to recover in 2013 was wind power, which led to
more orders and sales in this segment. Von Roll was also able to increase
sales and order intake significantly in a few niche areas such as
fire-resistant insulation tapes for building technology. Performance in the
Technologies division was very uneven: whilst market demand for water
technology and construction of wastewater treatment plants rose markedly,
the transformer business is suffering from surplus capacity worldwide.

The Insulation division put in a pleasing performance. Despite a fall in
sales of 8.4% and non-recurring expenses, EBIT was positive at CHF 3.2
million. These are the first few tangible results of the restructuring
programme that has been introduced.

The positive trend in cash flow from operating activities continued, with
this figure up by CHF 12.9 million on 2012. This was offset to some extent
by increased investment in machinery and by the cash outflow for the
"Albesiano Sisa Vernici S.r.l." acquisition. Acquired half-way through last
year, the Italian company has been fully integrated into the Von Roll Group
and its development has been very positive. This has enabled Von Roll to
expand its market position to become the second most important player in
the global liquids industry. The resins and varnishes that it manufactures
are used most notably in innovative low-voltage applications such as
sensors. These are attractive markets of the future and key to our growth.

Despite the difficult environment, Von Roll is pressing ahead with the
process of transformation initiated in 2013 in order to deliver the
turnaround in 2014. This transformation process mainly involves
concentrating on its core business, organic growth, boosting efficiency and
restructuring the Group. With its core segments Insulation and Composites,
Von Roll is focusing on attractive markets with potential for growth. Von
Roll is expecting a clearly positive result for 2014 in its core operating

For further details, please refer to the Annual Report 2013, which can be
downloaded from http://www.vonroll.com/en/financial-reports.html

Key figures
in CHF 1,000                                2013        2012*       Change

Order intake                             475,784      505,133        - 5.8%
Net sales                                472,470      497,064        - 4.9%
thereof Insulation                       273,667      298,828        - 8.4%
thereof Composites                       133,086      138,571        - 4.0%
thereof Technologies                      65,717       59,665       + 10.1%
EBIT                                    - 27,018     - 53,637       - 49.6%
One-off effects                         - 19,698     - 49,559       - 60.3%
Recurring EBIT                           - 7,320      - 4,078       + 79.5%
Net income                              - 36,323     - 67,300       - 46.0%
Cash flow from operating activities       14,508        1,589     +> 100.0%
Equity ratio                                 40%          45%      - 5 ppt.
Number of employees (FTE)                  2,551        2,727        - 6.5%

* 2012 restated

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 insulation products, systems and services and has
a presence in 20 countries with about 2,550 employees at over 30 sites.

Claudia Guentert, Corporate Communications
T: +41 44 204 3529, F: +41 44 204 3007, E: press@vonroll.com

This press release is based on information currently available.
Unforeseeable risks and influences may lead to discrepancies with the
statements portrayed here. Furthermore, rounding differences may lead to
discrepancies in the reported figures. For more detailed information on the
company and business development, please see the Annual and Semi-annual
Report of Von Roll Holding AG. They are available in digital form at

Additional features:
Document: http://n.equitystory.com/c/fncls.ssp?u=EGNBRIMMIV
Document title: Annual result for 2013

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Language:               English
Company:                Von Roll Holding AG
                        Steinacherstr. 101
                        8804 Au
Phone:                  +41 44 204 3500
Fax:                    +41 44 204 3000
E-mail:              reception@vonroll.com
Internet:            www.vonroll.com
ISIN:                   CH0003245351
Listed:                 Freiverkehr in Berlin, Düsseldorf, München,
                        Stuttgart; Frankfurt in Open Market ; SIX

End of Announcement                             EQS Group News-Service



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