EQS-Adhoc
Von Roll Holding AG: First half-year results 2016
EQS Group-Ad-hoc: Von Roll Holding AG / Key word(s): Half Year Results
Von Roll Holding AG: First half-year results 2016
25.08.2016 / 07:00
Release of an ad hoc announcement pursuant to Art. 53 KR.
---------------------------------------------------------------------------
Von Roll Holding AG: First half-year results 2016
25.08.2016 / 07:00
Release of an ad hoc announcement pursuant to Art. 53 KR.
---------------------------------------------------------------------------
Von Roll Holding AG: First half-year results 2016
Au/Wädenswil, 25 August 2016 - There were no significant changes in the
relevant market segments compared with the previous year. Market recessions
had a negative impact, and weak sales led to an operating EBIT of CHF -5.4
million as against CHF -6.6 million in 2015. Although the loss was reduced
year on year, the overall result clearly does not meet expectations.
The actions taken within the transformation strategy, such as consolidating
plants and launching new products, have already begun to bear fruit:
- Gross profit increased by 11.1% year on year despite weak sales.
- The gross margin rose from 16.3% to 19.7%.
- The cost-cutting programmes that were launched last year and that have
already been implemented resulted in savings as intended.
In the largest segment, Insulation, the gross margin increased in all
product areas, confirming the benefits of the transformation process and
sending out a positive signal for the future. In addition, the power
generation market segment stabilised. Sales were weaker in the high-voltage
motors and fire-resistant cables sectors. Both markets are heavily
dependent on the crude oil price, which means a noticeable decline in
orders from the oil- and gas industry. In the Insulation segment the
operating EBIT increased from CHF -4.0 million to CHF 0.8 million.
By contrast, the Composites segment posted disappointing results, with both
sales and operating EBIT down on the previous year. This was primarily due
to a lack of orders in the ballistics and aluminium smelter segments.
The results for the first half of the year show that there is still a long
way to go in improving the operating business. The transformation and focus
on new growth segments such as electromobility and wind power, as well as
the adjustment of capacity levels are not yet complete. As a consequence of
the site closures towards the end of 2015, the number of positions was
reduced by 13.5% compared with the previous year.
As announced in early July 2016, further measures are planned to save CHF
18 million in costs from 2017 onwards. Savings of around CHF 4 million are
already expected for the second half of 2016, while restructuring costs
will amount to some CHF 8 million. The refinancing of the bond to be
redeemed in October 2016 has been secured.
Au/Wädenswil, 25 August 2016 - There were no significant changes in the
relevant market segments compared with the previous year. Market recessions
had a negative impact, and weak sales led to an operating EBIT of CHF -5.4
million as against CHF -6.6 million in 2015. Although the loss was reduced
year on year, the overall result clearly does not meet expectations.
The actions taken within the transformation strategy, such as consolidating
plants and launching new products, have already begun to bear fruit:
- Gross profit increased by 11.1% year on year despite weak sales.
- The gross margin rose from 16.3% to 19.7%.
- The cost-cutting programmes that were launched last year and that have
already been implemented resulted in savings as intended.
In the largest segment, Insulation, the gross margin increased in all
product areas, confirming the benefits of the transformation process and
sending out a positive signal for the future. In addition, the power
generation market segment stabilised. Sales were weaker in the high-voltage
motors and fire-resistant cables sectors. Both markets are heavily
dependent on the crude oil price, which means a noticeable decline in
orders from the oil- and gas industry. In the Insulation segment the
operating EBIT increased from CHF -4.0 million to CHF 0.8 million.
By contrast, the Composites segment posted disappointing results, with both
sales and operating EBIT down on the previous year. This was primarily due
to a lack of orders in the ballistics and aluminium smelter segments.
The results for the first half of the year show that there is still a long
way to go in improving the operating business. The transformation and focus
on new growth segments such as electromobility and wind power, as well as
the adjustment of capacity levels are not yet complete. As a consequence of
the site closures towards the end of 2015, the number of positions was
reduced by 13.5% compared with the previous year.
As announced in early July 2016, further measures are planned to save CHF
18 million in costs from 2017 onwards. Savings of around CHF 4 million are
already expected for the second half of 2016, while restructuring costs
will amount to some CHF 8 million. The refinancing of the bond to be
redeemed in October 2016 has been secured.
Diskutieren Sie über die enthaltenen Werte
Aktuelle Themen
Weitere Artikel des Autors
1 im Artikel enthaltener WertIm Artikel enthaltene Werte