EQS-Adhoc: Von Roll Holding AG: First half-year results 2015

EQS Group-Ad-hoc: Von Roll Holding AG / Key word(s): Half Year Results Von Roll Holding AG: First half-year results 2015

2015-08-25 / 07:00 Release of an ad hoc announcement pursuant to Art. 53 KR. The issuer is solely responsible for the content of this announcement.

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Von Roll Holding AG: First half-year results 2015

- Sales: CHF 189.1 million

- Order intake: CHF 191.0 million

- EBIT: CHF -6.6 million

Au/Wädenswil, 25 August 2015 - In the first half of 2015, sales by the Von Roll Group declined by 12.5% compared with the same period in the previous year, to CHF 189.1 million. EBIT decreased to CHF -6.6 million.

The first half of 2015 was dominated by currency effects and weak markets for conventional power generation. Declining order intake levels and sales, particularly in the first quarter, pushed operating EBIT down. The EMEA region was affected the most. The main cause of the decline in China was the slowdown in the country's economy. Sales performance in America was stable.

The result achieved in the first half of 2015 shows how dependent Von Roll is on economic trends in the high-voltage electricity segment for generators and motors. Based on its core areas of expertise, Von Roll is now focusing strategically on becoming a market- and customer-oriented company, concentrating on growth markets. This transformation marks a genuine paradigm shift from the company's previous emphasis on products and production.

As well as being geared towards growth segments, the transformation also entails making adjustments to capacity levels. A further element of the concept is the pooling of core areas of competence site by site. Areas with strong demand will be consolidated in the new centres of excellence, with the associated research and development work being stepped up. All plants are being equipped with new or modified machinery to significantly ramp up their productivity.

What can be expected in the second half of 2015? Current order intake levels point towards a small recovery. A modest increase in orders is anticipated in both China and the EMEA region, while India and the Americas are currently experiencing a sideways trend. New products should provide some extra momentum from as early as the fourth quarter and in the first quarter of 2016. Electromobility, with its new and attractive market segments, is generating some good news. The first orders received from high-profile automotive manufacturers have been fulfilled, with volumes expected to rise in step with the demand for electric vehicles.

Ongoing consolidation projects are progressing as planned and will boost efficiency, optimising capacity utilisation and significantly reducing fixed costs. The full benefit of this strategy will be reaped in 2016.

Further information can be found in the Semi-Annual Report 2015. This is available in digital form at http://www.vonroll.com/en/financial-reports.html.

Key figures

 
 
in CHF 1 000                            1H 2015           1H 2014    Change 
                                                       (restated) 
Order intake                            190,967           219,844    -13.1% 
Net sales                               189,097           216,124    -12.5% 
Thereof Insulation                      124,344           145,888    -14.8% 
Thereof Composites                       58,173            62,741     -7.3% 
Thereof other activities                  6,580             7,495    -12.2% 
EBIT                                     -6,557             1,881      n.a. 
Net income for the period               -15,939            -3,595  ->100.0% 
Cash flow from operating                -16,822            -9,203    -82.8% 
activities 
Equity ratio                                22%               36%   -14 ppt 
Number of employees (FTE)                 2,146             2,275     -5.6% 
 

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 more than 30 sites in 20 countries with about 2,150 employees.

Contact: Claudia Guentert, Corporate Communications T: +41 44 204 35 29, F: +41 44 204 30 07, 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 is available in digital form at http://www.vonroll.com/en/financial-reports.html.

End of ad hoc announcement

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2015-08-25 News transmitted by EQS Schweiz AG. www.eqs.com - news archive: http://switzerland.eqs.com/de/News

The issuer is responsible for the contents of the release.

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Language: English Company: Von Roll Holding AG Steinacherstr. 101 8804 Au Switzerland Phone: +41 44 204 3500 Fax: +41 44 204 3007 E-mail: reception@vonroll.com 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 =-------------------------------------------------------------------- 389007 2015-08-25 (END) Dow Jones Newswires

   August 25, 2015 01:00 ET (05:00 GMT)- - 01 00 AM EDT 08-25-15