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Schaffner Holding AG

Schaffner Group fulfils sales expectations in fiscal 2003/2004

Luterbach (ots)

Strong growth for Components makes up for the downturn in sales in
Test Systems - solid start in the first four weeks of the new fiscal
year
The Schaffner Group's net sales in fiscal
2003/2004 were at the upper end of expectations (CHF 173 million to
CHF 176 million). At CHF 175.4 million, net sales exceeded the
year-back figure by 7.4% (fiscal 2002/2003: CHF 163.4 million). Some
70% or CHF 122.9 million (CHF 109.3 million) of Group sales were
generated by the high-margin Components business and CHF 52.5 million
(CHF 54.1 million) by Test Systems. Consolidated order intake was up
5.1% year-on-year at CHF 176.3 million (CHF 167.7 million). Broken
down according to business, Components recorded a 12.1% rise in order
intake to CHF 124.6 million (CHF 111.1 million), while Test Systems
posted a fall of 8.6% to CHF 51.7 million (CHF 56.6 million). The
Group's book-to-bill ratio in fiscal 2003/2004 was 1.01. Based on the
distinctive growth in the dominant Components business, the Schaffner
Group expects to record positive results despite the unsatisfactory
performance of Test Systems. With order intake up significantly on
the previous year and net sales also posting an increase, the
Schaffner Group made a solid start to the new fiscal year in October.
Modest order flows in the fourth quarter
Net sales in the traditionally weaker fourth quarter were in line
with the previous year's figure at CHF 46.1 million (CHF 46.0
million), with Components contributing CHF 30.8 million (CHF 30.8
million) and Test Systems CHF 15.3 million (CHF 15.2 million). Order
intake in the fourth quarter amounted to CHF 36.9 million (CHF 40.4
million). CHF 25.1 million (CHF 26.7 million) of the new orders in
the fourth quarter were generated by Components, and CHF 11.8 million
(CHF 13.7 million) by Test Systems.
Massive growth in Asia
With an increase of over 60%, sales performance in the strategic
Asian region clearly exceeded objectives. Given the huge potential of
the region, especially in China, the Schaffner Group tripled
production capacity in Shanghai in August 2004. The Asian region's
contribution to sales was increased to 20% (14%) in fiscal 2003/2004.
69% (73%) of sales were generated in Europe and 11% (13%) in the
Americas.
Management change in the Test Systems business
With immediate effect, President and Chief Executive Officer Fritz
Gantert is taking over the leadership of the Test Systems business
from Matthias Zwicky, who will be leaving the Schaffner Group. Fritz
Gantert will head the business on an interim basis, and will be
assisted by Matthias Zwicky during the initial transition period.
Following the restructuring of the business over the past few years,
the goal now is to foster further profitable market growth. The
evaluation procedure to find a new head of Test Systems is already
underway. The Board of Directors of Schaffner Holding AG would like
to thank Matthias Zwicky for his efforts and wish him every success
in the future.

Contact:

For further information
Fritz Gantert
President & Chief Executive Officer
Tel. +41/32/681'66'02
E-Mail: fgantert@schaffner.com

Martin Zwyssig
Executive Vice President & Chief Financial Officer
Tel. +41/32/681'66'08
E-Mail: mzwyssig@schaffner.com

Schaffner Holding AG, CH-4542 Luterbach
Tel. +41/32/681'66'26
Fax +41/32/681'66'30
WInternet: http://ww.schaffner.com

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