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Von Roll Holding AG

EANS-Adhoc: Von Roll Holding AG
Result for 2012 heavily impacted by one-off effects (with document)

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Annual Reports/annual report
18.03.2013



»      9.7% order intake decline to CHF 505.1 million
»      8.5% sales decline to CHF 497.1 million
»      CHF -50.1 million EBIT mainly as a result of impairments

Au / Wädenswil, March 18, 2013 - Von Roll Holding Ltd. today published its
results for the 2012 financial year. 2012 was a disappointing year for Von Roll.
Order intake declined to CHF 505.1 million in 2012 (2011: CHF 559.6 million).
Von Roll Group sales for the financial year 2012 totaled CHF 497.1 million
(2011: CHF 543.3 million). Insulations segment sales declined by 7.6 % and
Composites segment sales by 7.1 %. Serious delivery delays impacted Transformer
business line sales by 26 %, although the underlying production bottleneck
problems were resolved in the last quarter. Regional sales development was
affected by economic market environments. Americas region sales declined by CHF
14.2 million to CHF 126.9 million (2011: CHF 141.1 million). In Europe, the
persistent market weakness resulted in a 7.6 % sales decline to CHF 259.2
million (2011: CHF 280.6 million). Sales in the Asia Region declined to CHF
111.0 million (2011: CHF 121.6 million), in particular due to the wind power
business situation in India. The negative EBIT of CHF 50.1 million is mainly
attributable to a combination of operating losses and impairments in the
Transformer business. Extensive impairments were necessary for Transformer
business in Israel, and also for the Shenzhen Insulations business in China due
to nonattainment of the high margins assumed at the time of acquisition.
Although positive after adjustment for one-off effects, the combined EBIT of the
Insulations and Composites segments were disappointingly below the prior year
result. Overall, the negative net income of 64.5 million is attributable to
numerous nonrecurring effects. Operating cash flow is now positive after an
encouraging rise of CHF 21 million compared with prior year.

The Insulations and Composites segments order intake remained weak at the
beginning of 2013. Also overall, recessionary effects are still predominant in
Europe. 
Generally seen a short-term order intake trend as well as a limited business
visibility can be observed. Despite the unfavorable business environment at the
present time, Von Roll still adheres to the principle of the Group strategy
announced last year. Since conditions in general have worsened, not least due to
the difficult economic situation, the strategy implementation timeframe must be
adapted realistically.
A number of investment projects were nevertheless launched last year. One of the
largest, for example, involves comprehensively renewing most of the production
and logistics systems at the main location in Breitenbach, Switzerland.
Furthermore, several projects for new product developments and quality
improvements are already in the pipeline.
 
For further details please refer to the Annual Report 2012, which can be
downloaded at http://www.vonroll.com/en/financial-reports.html

end of ad-hoc-announcement
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About Von Roll Holding Ltd:
As one of Switzerland's longest established industrial companies, Von Roll
focuses on products and systems for power generation, transmission and
distribution. Von Roll employs about 2 800 people at more than 30 locations in
19 countries, and is global market leader for insulation products, systems and
services.

This press release contains information that is based on the current state of
knowledge. Unforeseeable risks and events could potentially result in
circumstances that deviate from the statements made. Minor deviations from the
stated figures may arise due to rounding differences. For more detailed
information on the company and business developments, please refer to the Von
Roll Holding Ltd. Annual Report. 
Attachments with Announcement:
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Further inquiry note:
Julia Dunkake
Corporate Communications
T: +41 44 204 3032, F: +41 44 204 3039, E:  press@vonroll.com

end of announcement                               euro adhoc 
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Attachments with Announcement:
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http://resources.euroadhoc.com/us/ru8v0hhd


issuer:      Von Roll Holding AG
             Steinacherstrasse 101
             CH-8804 Au / Wädenswil
phone:       +41 (0)44 204 30 34
FAX:         +41 (0)44 204 30 39
mail:         press@vonroll.com
WWW:         http://www.vonroll.ch
sector:      Misc. Industrials
ISIN:        CH0003245351
indexes:     SPI, Midcap Market Index
stockmarkets: Main Standard: SIX Swiss Exchange 
language:   English

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