| |
First
half-year
2011: |
Positive sales growth in local currencies |
| Strength of the Swiss Franc has an unparalleled impact on the Group's competitiveness and profitability |
| Group transformation program launched in 2009 is on track |
| Successful finalization of the acquisition of Gordon Ltd |
| |
Second
half-year
2011: |
Start of moves from Prilly to Mex – project is on time and budget |
| Order backlog allows the Group to anticipate a good utilization of production capacities for the rest of the year |
| Global macroeconomic situation could negatively affect order entries |
| Additional measures to improve competitiveness of Swiss operations will be implemented |
| At current exchange rates the Group expects an improvement of the operating result for the full year 2011 | |
The consolidated sales of the first six months 2011 amounted to CHF 562.2 million, representing an increase of CHF 2.1 million, or +0.4%, compared to the same period in 2010. This evolution is due to the compensating effect of the following elements:
|
| |
In million CHF |
% |
| Evolution of volume and price |
54.7 |
9.8 |
| Change in the scope of consolidation |
7.4 |
1.3 |
| Evolution of exchange rates * |
-60.0 |
-10.7 |
| Total |
2.1 |
0.4 | |
* Exchange rate impact due to conversion for consolidation only
Compared to the 2010 half-year figures, the sales by Business Unit (BU) reached 98.6% for the BU Sheet-fed, 110.5% for the BU Web-fed, and 95.3% for the BU Services.
|
| |
30 June 2011 |
30 June 2010 |
Evolution |
| In million CHF |
In million CHF |
In % |
| BU Sheet-fed |
259.6 |
263.4 |
-1.4 |
| BU Web-fed |
125.8 |
113.8 |
10.5 |
| BU Services |
173.8 |
182.4 |
-4.7 |
| Other |
3.0 |
0.5 |
500.0 |
| Total |
562.2 |
560.1 |
0.4 | |
Excluding the change in the scope of consolidation and the evolution of exchange rates, the sales by Business Unit (BU) would have reached 99.6% for the BU Sheet-fed, 131.6% for the BU Web-fed, and 109.3% for the BU Services, compared to the 2010 half-year figures.
|
| Operating loss |
The operating loss amounted to CHF 24.2 million compared with the operating loss of CHF 27.3 million for the same period in 2010.
The improvement of the operating result is due to the increase in volume and the impact of the Group transformation program, but a large part of the achieved profit improvement is offset by the negative exchange rate impact.
For the first half of 2011, the operating results of the three Business Units (BU) amounted to:
|
- BU Sheet-fed: CHF -31.8 million (30 June 2010: CHF -32.4 million)
- BU Web-fed: CHF -11.9 million (30 June 2010: CHF -18.2 million)
- BU Services: CHF +19.6 million (30 June 2010: CHF +21.6 million)
|
| Net loss |
Influenced by tax income in the amount of CHF +3.0 million, the net loss amounted to CHF 27.7 million (first half-year 2010: net loss of CHF 23.5 million).
|
| Outlook for the second half of 2011 |
A higher order backlog than the one at the beginning of the year allows the Group to anticipate a good utilization of production capacities for the rest of the year. The second half-year 2011 started with an unparalleled strengthening of the Swiss Franc. As of today, estimated sales are still to be confirmed but are expected to be approximately CHF 1.25 billion at current exchange rates.
The uncertainty of the worldwide economic situation, as well as the strong Swiss Franc, will have an adverse impact on the underlying result for the full year. Additional measures to improve the competitiveness of Swiss operations will be implemented. A precise forecast is therefore very complex to establish. At current exchange rates the Group expects an improvement of the operating result for the full year 2011.
|
Bobst Group SA, Lausanne/Prilly, 1 September 2011
|
| Today's Teleconference |
A teleconference for financial analysts and the media will take place today, at 15.30 CET. The taped recording of the conference will be available on our website from 2 September 2011 onwards.
|
| Inquiries |
Media and Investor Relations: Phone +41 21 621 2560 or mail to investors@bobstgroup.com
|
 Teleconference
Half-Year Report 2011 |
| Forthcoming Events |
|
