Von Roll Holding AG

EQS-Adhoc: Von Roll Holding AG: Annual result 2015

EQS Group-Ad-hoc: Von Roll Holding AG / Key word(s): Final Results
Von Roll Holding AG: Annual result 2015

16.03.2016 / 07:00
Release of an ad hoc announcement pursuant to Art. 53 KR.
The issuer is solely responsible for the content of this announcement.


Von Roll: Annual result for 2015

-Sales down by 15.3% due to currency and copper effects as well as low crude oil

-Plant consolidation and modernisation measures on track

-EBIT of minus CHF 23.0 million, a much smaller loss than the previous year

-CHF 150 million convertible bonds issued to secure long-term funding

Au/Wädenswil, 16 March 2016 - Von Roll Holding AG today published its results
for the financial year 2015, a year shaped by external factors such as the
strong Swiss franc, the low copper and crude oil prices and the economic
downturn in China. Sales were low as a result of weak demand from the key
high-voltage electricity segments, especially for products used in large
generators in hydroelectric, nuclear and coal-, oil- and gas-fired power
stations. In volume terms, sales of components for large industrial motors
almost halved due to the low crude oil price. Despite adjustments to capacities,
these factors prevented the marginally positive EBIT that had been planned.

By contrast, sales of products increased in volume terms in the newly defined
strategic growth markets, confirming that the course we have now set is the
right one. Up-and-coming market segments such as the automotive industry,
renewable energies and fire-resistant cables enjoyed a very positive trend.
Unfortunately, these growth markets have not yet been able to fully offset the
downturn in the conventional high-voltage segments.

The gross margin dipped only slightly, making it a much less severe fall than
that in sales. This demonstrates that the consolidation of production capacity
and measures to improve productivity have boosted our operating performance.

The process to take Von Roll to the next level remained on track in 2015.
Although consolidating its global production capacities stabilised capacity
utilisation, the desired level has not yet been reached. Eight production
facilities were shut down and some of the product portfolio incorporated at
other sites.

It is not only the consolidation of production capacity, but also the investment
in new, high-performance machines and processes that is making Von Roll more
competitive in the long term. Apart from the plant optimisation measures, the
focus is on cultivating markets, developing applications and launching new
products. Investing in research and development in new market segments in
particular has shown itself to be the right way to gain additional market share.

Within the space of just two years, Von Roll has won some major long-term
orders, opening up completely new avenues for the company in high-growth market
segments. For instance, our products are now used for energy storage in both
electric vehicles and stationary systems.

For further details, please refer to the Annual Report 2015, which can be viewed
online athttp://www.vonrollgroup.com/en/media--investor-relations/reports-and-pu

Key figures

in CHF 1,000                        2015            Change

Order intake                        356,603 416,382 -14.4%

Net sales                           354,806 418,844 -15.3%

thereof Insulation                  234,268 279,046 -16.0%

thereof Composites                  112,006 125,304 -10.6%

thereof Other activities            8,532   14,494  -41.1%

EBIT                                -23,035 -32,495 +29.1%

Net income for the period           -34,875 -90,204 +61.3%

Cash flow from operating activities -14,359 3,032   n/a

Equity ratio                        18%     26%     -8 ppt.

Number of employees (FTE)           2,002   2,248   -10.9%


Von Roll Holding AG is planning to issue a CHF 150 million convertible bonds
with a term of six years and a conversion price of CHF 1.00. It will have a
coupon of 1.00% p.a., payable annually in arrears. With the bonds, the company
intends to raise long-term funds in good time to ensure repayment of the CHF 150
million bonds currently outstanding, which is due in autumn 2016. Shareholders
are to be offered the opportunity to subscribe to the convertible bond pro rata
based on the number of shares held and the bond is to be listed on the SIX Swiss
Exchange. The advance subscription rights will not be tradeable. Any such rights
not exercised by shareholders within the subscription period of 24 March to
12.00 noon CEST on 6 April 2016 shall lapse without compensation. Each
shareholder is entitled to purchase a convertible bond in exchange for 1,185
shares held after close of trading on 22 March 2016 at a nominal value of CHF
1,000. The principal shareholder group has undertaken to purchase all
convertible bonds which will not be sold in the offering.

At the forthcoming Annual General Meeting of Von Roll Holding AG on 13 April
2016, the Board of Directors is to propose the election of Dr. Christian
Hennerkes as a new member of the Board of Directors.

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 around 30 sites
with about 2,000 employees.

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 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
are available in digital form atwww.vonroll.com.

This document does not represent an invitation to purchase or subscribe to
securities of Von Roll Holding AG or a prospectus within the meaning of the
applicable Swiss law (Art. 652a or Art. 1156 of the Swiss Code of Obligations or
Art. 27 ff. of the listing rules of the SIX Swiss Exchange). Investors should
base their decision to purchase or subscribe to shares or convertible bonds of
Von Roll Holding AG solely on the issue and listing prospectus, which is
expected to be published by Von Roll Holding AG from 24 March 2016 onwards and
made available free of charge from Von Roll Holding AG (Passwangstrasse 20,
CH-4226 Breitenbach (e-mail: investor@vonroll.com)) and Privatbank IHAG Zürich
AG (Bleicherweg 18, CH-8002 Zurich (e-mail: prospectus@pbihag.ch)). Investors
are also advised to consult their bank or their financial advisor before making
any investment decision.

This document may contain certain forward looking statements, e.g. information
that uses the words "believes", "assumes", "expects", "forecasts", "plans",
"may", "could", "looks set to", "will" or similar terms. Forward-looking
statements of this kind are based on known and unknown risks, uncertainties and
other factors that may result in the company's actual results, financial
situation or performance deviating significantly from the scenarios portrayed
directly or indirectly in the forward-looking statements. Given these
uncertainties, readers should not rely on these forward-looking statements. Von
Roll Holding AG is not responsible for updating these forward-looking statements
or adapting them in light of future events or developments.

The information contained herein does not represent an invitation to sell or a
solicitation to make a purchase offer in countries in which an invitation or
solicitation of this kind would be illegal without the appropriate
authorisation, registration, exemption from authorisation or registration
requirements, or any other actions.

This announcement is not for distribution, directly or indirectly, in or into
the United States (including its territories and dependencies, any state of the
United States and the District of Columbia), Canada, Japan, Australia, Hong Kong
or any jurisdiction into which the same would be unlawful. This announcement
does not constitute or form a part of any offer or solicitation to purchase,
subscribe for or otherwise acquire securities in the United States, Canada,
Japan, Australia, Hong Kong or any jurisdiction in which such an offer or
solicitation is unlawful. The Von Roll Holding AG shares and the convertible
bonds have not been and will not be registered under the US Securities Act of
1933 (the "Securities Act") or under any securities laws of any state or other
jurisdiction of the United States and may not be offered, sold, taken up,
exercised, resold, renounced, transferred or delivered, directly or indirectly,
within the United States except pursuant to an applicable exemption from, or in
a transaction not subject to, the registration requirements of the Securities
Act and in compliance with any applicable securities laws of any state or other
jurisdiction of the United States. Subject to certain exceptions, the Von Roll
Holding AG shares and the convertible bonds are being offered and sold only
outside the United States in accordance with Regulation S under the Securities
Act. There will be no public offer of these securities in the United States.

The Von Roll Holding AG shares and the convertible bonds have not been approved
or disapproved by the US Securities and Exchange Commission, any state's
securities commission in the United States or any US regulatory authority, nor
have any of the foregoing authorities passed upon or endorsed the merits of the
offering of the convertible bonds or the accuracy or adequacy of this
announcement. Any representation to the contrary is a criminal offence in the
United States.
The information contained herein does not constitute an offer of securities to
the public in the United Kingdom. No prospectus offering securities to the
public will be published in the United Kingdom.

This document is only being distributed to and is only directed at (i) persons
who are outside the United Kingdom or (ii) to investment professionals falling
within article 19(5) of the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005 (the "Order") or (iii) high net worth entities, and other
persons to whom it may lawfully be communicated, falling within article 49(2)(a)
to (d) of the Order (all such persons together being referred to as "Relevant
Persons"). The securities are only available to, and any invitation, offer or
agreement to subscribe, purchase or otherwise acquire such securities will be
engaged in only with, Relevant Persons. Any person who is not a relevant person
should not act or rely on this document or any of its contents.

Any offer of securities that may be deemed to be made pursuant to this
communication in any EEA Member State that has implemented Directive 2003/71/EC
(together with any applicable implementing measures in any Member State, the
Prospectus Directive) is only addressed to qualified investors in that Member
State within the meaning of the Prospectus Directive.


End of ad hoc announcement

16.03.2016 News transmitted by EQS Schweiz AG. www.eqs.com - news archive:

The issuer is responsible for the contents of the release.

Language: English

Company:  Von Roll Holding AG

          Steinacherstr. 101

          8804  Au


Phone:    +41 44 204 3500

Fax:      +41 44 204 3007


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
445519  16.03.2016 

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