LOOSER HOLDING AG Press Release
6.1 percent rise in revenues from the prior year level, marked increase in operating margin
- Net revenues of CHF 106.7 million, +6.1 percent after adjustments for currency and divestment effects
- EBITDA CHF 11.9 million (prior year: CHF 11.2 million)
- EBITDA margin 11.2 percent (prior year: 10.4 percent)
In the first quarter of 2016, the Looser Group generated net revenues of CHF 106.7 million (prior year: CHF 107.6 million), which corresponds to a slight decline by 0.9 percent when expressed in Swiss francs. After adjustments for the revenues of the Temperature Control segment (Single Group) included in the prior year figures, revenues grew by 7.4 percent. After adjustments for currency and divestment effects (like-for-like), the revenue growth amounted to 6.1 percent. The operating result (EBITDA) increased by 6.5 percent to CHF 11.9 million (prior year: CHF 11.2 million) and the EBITDA margin was 11.2 percent as compared to 10.4 percent in the previous year. The Looser Group closed the first quarter of 2016 with consolidated net income of CHF 2.4 million (prior year: CHF 0.7 million).
Segment development
As expected, net revenues in the Coatings segment declined by 2.4 percent (after currency adjustments) to CHF 35.4 million (prior year: CHF 36.2 million). The Industrial Services segment experienced a hesitant start to the year 2016. The segment generated net revenues of CHF 10.9 million (prior year: CHF 11.4 million) which thus declined by 4.9 percent from the previous year. Marked double-digit growth was achieved in the Doors segment. Revenues (after currency adjustments) rose by 14.5 percent from the first quarter of 2015 to CHF 61.7 million (prior year: CHF 52.8 million).
Outlook for 2016
Based on the good start to the new financial year, the Looser Group expects a significant revenue growth (after adjustments for currency and acquisition effects) and an increase in the EBITDA margin in 2016.
Key figures of the Looser Group
(Amounts in thousands of CHF)
1.1. to 31.12.2016 | 1.1. to 3112.2015 | |
Net revenues | 106,672 | 107,603 |
Change in net revenues (in %) | -0.9 | |
Net revenue growth after adjustments for currency and divestment effects (in %) | +6.1 | |
Earnings before interest, taxes, depreciation and amortization (EBITDA) | 11,932 | 11,161 |
EBITDA as a percentage of net revenues | 11.2 | 10.4 |
Earnings before interest, taxes and amortization (EBITA) | 7,362 | 6,450 |
EBITA as a percentage of net revenues | 6.9 | 6.0 |
Earnings before interest and taxes (EBIT) | 5,216 | 4,311 |
EBIT as a percentage of net revenues | +4.9 | +4.0 |
Consolidated net income | 2,436 | 697 |
Consolidated earnings per registered share (in CHF) | 0.64 | 0.17 |
Cash-flow from operations | -8,764 | -8,988 |
As of 31.03.2016 | As of 31.12.2015 | |
Shareholders' equity | 155'850 | 153'477 |
Net debt | 98'454 | 85'349 |
Number of employees at end of period | 2'173 | 2'131 |
Key figures of the segments
(Amounts in thousands of CHF)
1.1. to 31.12.2016 | 1.1. to 3112.2015 | +/- in % | *+/- in % | |
Net revenues Coatings | 35,426 | 36,239 | -2.2 | -2.4 |
Net revenues Industrial Services | 10,888 | 11,416 | -4.6 | -4.9 |
Net revenues Doors | 61,690 | 52,833 | +16.8 | +14.5 |
*After currency adjustments
| Provider | Channel | Contact | ||
|---|---|---|---|---|
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Tensid Ltd., Switzerland www.tensid.ch |
newsbox.ch www.newsbox.ch |
Provider/Channel related enquiries marco@tensid.ch +41 41 763 00 50 |
