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Von Roll with decli­ne in sales and spe­cial effects in the first half-year

Brei­ten­bach, August 20, 2020 — The ongo­ing Covid-19-cri­sis and the spe­cial effects from the two dis­con­ti­nued sites in Fran­ce (Del­le) had a nega­ti­ve impact on our results, par­ti­cu­lar­ly in the second quar­ter of 2020, lea­ding to an ope­ra­ting inco­me (EBIT) for the Von Roll Group of CHF ‑10.9 mil­li­on. Befo­re spe­cial effects from the dis­con­ti­nua­tion of the abo­ve-men­tio­ned plants, a slight­ly posi­ti­ve ope­ra­ting result of CHF 0.5 mil­li­on was achie­ved in the first half of the year.

After an initi­al­ly solid per­for­mance in the first quar­ter, the mas­si­ve restric­tions impo­sed on glo­bal eco­no­mic acti­vi­ties in con­nec­tion with Covid-19 led to major chal­len­ges for all mar­ket par­ti­ci­pants. Alt­hough Von Roll was able to almost com­ple­te­ly main­tain its abi­li­ty to deli­ver, demand decre­a­sed and resul­ted in net sales of CHF 119.5 mil­li­on (1H 2019: CHF 154.8 million).

Taking into account the chan­ges in the con­so­li­da­ted com­pa­nies and exchan­ge rate effects, the decli­ne in sales amounts to around 12.3 % com­pa­red to the pre­vious year. Thanks to all the struc­tu­ral adjus­t­ments made in recent years and care­ful cost manage­ment, a posi­ti­ve ope­ra­ting inco­me (EBIT) of CHF 0.5 mil­li­on befo­re deco­n­so­li­da­ti­on of the two plants in Fran­ce was still achie­ved des­pi­te the cur­rent coro­na crisis.

The spe­cial effects, cau­sed by the sepa­ra­ti­on from the two French sites in Del­le, resul­ted in a nega­ti­ve ope­ra­ting inco­me (EBIT) of CHF ‑10.9 mil­li­on (1H 2019: CHF 2.5 mil­li­on). Group ear­nings after taxes (EAT) fell by the same pro­por­ti­on to CHF ‑15.0 mil­li­on (1H 2019: CHF ‑0.6 million).

Cash flow from ope­ra­ting acti­vi­ties amoun­ted to CHF 1.6 mil­li­on (1H 2019: CHF ‑1.2 mil­li­on). The equi­ty ratio was 74.3%.

Based on its solid liqui­di­ty and high equi­ty ratio, Von Roll is in a posi­ti­on to con­ti­nue to com­pe­te in an uncer­tain and vola­ti­le mar­ket envi­ron­ment in the com­ing months.

 

Key figu­res  
in CHF 1 000 1H 2020 1H 2019
Order inta­ke 124,464 155,514
Net sales 119,509 154,754
   the­re­of Insulation 87,584 111,429
   the­re­of Composites 31,925 43,325
Ear­nings befo­re inte­rest, taxes, depre­cia­ti­on and amor­tiz­a­ti­on (EBIT­DA) -4,953 9,301
Ope­ra­ting inco­me befo­re deconsolidation 539 2,537
Ope­ra­ting inco­me (EBIT) -10,947 2,537
Ear­nings after taxes (EAT) -15,046 -557
Cash flow from ope­ra­ting activities 1,605 -1,229
Equi­ty ratio (%) 74.3% 71.9%
Num­ber of employees (FTE) 1,054 1,252

 

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 12 pro­duc­tion sites with around 1,100 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/.