Orell Füssli Ltd

Orell Füssli raises forecast for 2023 financial year and nominates Pascale Bruderer as new member of the Board of Directors

Orell Füssli AG / Key word(s): Change in Forecast Orell Füssli Ltd: Orell Füssli raises forecast for 2023 financial year and nominates Pascale Bruderer as new member of the Board of Directors 30-Nov-2023 / 07:00 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement. Ad hoc announcement pursuant to Art. 53 LR

Orell Füssli raises forecast for 2023 financial year and nominates Pascale Bruderer as new member of the Board of Directors

Zurich, November 30, 2023 - Orell Füssli Ltd's good business performance in the second half of the year leads to adjustment of the annual forecast. The Board of Directors proposes Pascale Bruderer for election to the Board of Directors at the Annual General Meeting on May 7, 2024.

The second half of 2023 is developing better than expected for Orell Füssli. The company previously assumed a moderate increase in sales and an EBIT margin slightly below the previous year's level for the 2023 financial year. Orell Füssli continues to expect an increase in sales for the current financial year and newly an EBIT margin at or slightly above the previous year's level. All business units will make a positive contribution to earnings. The better result is due in particular to costs lower than planned and seasonal sales effects after the summer vacations.

Board of Directors nominates Pascale Bruderer as new member of the Board of Directors

After 13 years on the Board of Directors, Dieter Widmer, Vice Chairman and Head of the Audit Committee, will not be standing for re-election at the next Annual General Meeting on May 7, 2024. The Board of Directors will propose Pascale Bruderer for election to the Board of Directors at the Annual General Meeting. Pascale Bruderer (46) has extensive experience and a broad network in business and politics. She was a member of the National Council from 2002 to 2011, President of the National Council in 2009/2010 and a member of the Council of States from 2011 to 2019. Pascale Bruderer is now an independant entrepreneur and multiple board member. She is the founder and chairwoman of the Board of Directors of Swiss Stablecoin Ltd. and a member of the boardmember of the Galenica Group and TX Group/Tamedia. She will also become Vice-President of the ETH Board on January 1, 2024. Pascale Bruderer studied political science, constitutional law and social and economic history and holds a Master's degree in political science from the University of Zurich.