EQS-Adhoc Orell Füssli AG: Robust business model confirmed in a difficult environment
EQS Group-Ad-hoc: Orell Füssli AG / Key word(s): Annual Results
Orell Füssli Ltd
Robust business model confirmed in a difficult environment
- Increase in annual result despite reduction in net revenue and EBIT
- Security printing: difficult market conditions due to pandemic
- Zeiser: Good business year after successful transformation
- Book trade: Strong online business limits Corona-related decline in sales
- Publishing houses: Transformation successfully completed
- Investments in technologies and digitalisation
- Dividend of CHF 3.00 per share proposed
Zurich, March 17, 2021 - Orell Füssli reported net sales of CHF 218.6 million in the 2020 financial year, 8% lower than in the previous year. Most of the reduction is attributable to the difficult market environment caused by Corona, the postponement of orders in security printing and the sale of an activity at Zeiser in the previous year. Operating earnings (EBIT) amounted to CHF 14.4 million in 2020, equivalent to a margin of 6.6%. The Orell Füssli Group's net profit for the 2020 financial year was CHF 15.0 million.
Orell Füssli reported a financial year in 2020 in line with expectations and held its own in a difficult market environment. Thanks to a robust business model, a healthy balance sheet, comprehensive crisis management and flexible and committed employees, Orell Füssli demonstrated resilience in the past year and managed to limit the negative impact of the pandemic to a considerable extent. Both order backlog and new order entries were at a solid level. Net sales at the Orell Füssli Group for 2020 amounted to CHF 218.6 million (previous year: CHF 237.4 million), a reduction of 8% compared with the previous year. Operating income (EBIT) declined to CHF 14.4 million (previous year: CHF 18.2 million). Due to tax and financial effects, the annual result increased to CHF 15.0 million (previous year: CHF 10.9 million). Equity including minority interests is slightly lower than at the end of 2019 at CHF 144.5 million (previous year CHF 147.8 million). The equity ratio at the end of 2020 was 68.4% (previous year 66.8%).