Von Roll used the past fiscal year affected by Covid-19 to make major structural adjustments
Von Roll Group’s business was negatively impacted by external influences in 2020. Difficult circumstances experienced by our customers due to the ongoing COVID-19 pandemic led to a significant drop in demand in almost all product segments and regions.
The Von Roll Group used the significant slowdown of the global economy to make further structural adjustments mainly affecting its operations in Europe. Particularly to be noted is the discontinuation of two manufacturing plants in France, which in the financial year 2019 still contributed around CHF 50 million to net sales, but had been highly loss-making for years.
As a result, net sales decreased to CHF 212.2 million (2019: CHF 291.6 million). The operating result (EBIT) was mainly affected by negative effects from the above mentioned structural adjustments amounting to CHF ‑16.6 million (2019: CHF 9.8 million). Earnings after taxes (EAT) declined to the same extent to CHF ‑24.2 million (2019: CHF 3.3 million). Cash flow from operating activities amounted to CHF 6.8 million (2019: CHF 12.6 million).
In the first months of the financial year 2021, the Von Roll Group recorded a strong order intake while at the same time benefiting from the recently implemented cost improvements. The Group expects noticeable sales growth and a significantly positive operating result for the current financial year 2021.
Key figures | 2020 | 2019 |
|---|---|---|
Order intake | 196 998 | 296 944 |
Net sales | 212 237 | 291 581 |
thereof Insulation | 156 129 | 212 683 |
thereof Composites | 56 108 | 78 898 |
EBITDA | -4 920 | 21 540 |
Operating result before deconsolidation | -5 283 | 9 795 |
Operating result (EBIT) | -16 565 | 9 795 |
Earnings after taxes (EAT) | -24 215 | 3 261 |
Cash flow from operating activities | 6 831 | 12 625 |
Equity ratio (%) | 74,5% | 71,9% |
Number of employees (FTE) | 973 | 1 203 |
About Von Roll Holding AG: As a Swiss industrial company, Von Roll Holding AG focuses on products and systems for power generation, transmission, storage and distribution. Von Roll is a global market leader for electrical insulation products, systems and services and has a worldwide presence in 14 sites with around 1,000 employees. The company supplies customers in over 80 countries.
Contact
Claudia Güntert
Head of Corporate Communications
& Investor Relations
T +41 61 785 52 36
F +41 61 785 58 92
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. 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 at https://www.vonroll.com/en/.