LOOSER HOLDING AG Press release
Positive revenue development in the financial year 2016
- Net revenues of CHF 434.3 million slightly below prior year level (-0.5 percent)
- Revenue growth of 5.6 percent after adjustments for currency, acquisition and divestment effects
Looser Holding AG, headquartered in Arbon (Switzerland), generated net revenues of CHF 434.3 million (prior year: CHF 436.4 million) in the financial year 2016. Compared to the previous year, this corresponds to a slight decline by 0.5 percent. After adjustments for currency effects and revenues in the amount of CHF 29.8 million (11 months) relating to the divested Temperature Control segment included in the prior year figures as well as the revenues of WMS WC-Mietservice GmbH acquired in early September 2016, the Group generated a 5.6 percent revenue growth. In all, the growth of the Looser Group again increased marginally from the third quarter 2016.
Development of segment revenues
When compared to the previous year, the net revenues of the Coatings segment declined by 1.2 percent. Revenues after currency adjustments decreased by 0.9 percent from the prior year. Revenues in the Industrial Services segment improved by 9.5 percent from the prior year and by 7.4 percent after adjustments for currency and acquisition effects. Until year-end, WMS WC-Mietservice GmbH contributed approximately CHF 1.1 million (about 4 months) to the total revenues of the Industrial Services segment. Net revenues in the Doors segment increased by 11.1 percent from the previous year. After currency adjustments, the segment experienced a 9.3 percent growth.
Business combination with the Arbonia Group
The combination with Arbonia AG was completed on 13 December 2016. The process of integrating the Doors and Industrial Services segments into the Arbonia Group was started. The selling process relating to the Coatings group is continuing.
Earnings outlook
After adjustments for currency, acquisition and divestment effects as well as for the profit from the sale of the Temperature Control segment included in the prior year result and excluding special expenses incurred for strategic projects (sale of Coatings segment, business combination with the Arbonia Group), the Looser Group continues to expect earnings growth and an increase in the EBITDA margin for the full financial year 2016.
Looser Holding AG will publish the results for the financial year 2016 on 28 February 2017. The 2016 annual report and financial statements will be published on 16 March 2017.
Net revenues of the Looser Group (all figures unaudited and preliminary)
(Amounts in thousands of CHF)
Jan 1 to Dec 31, 2016 | Jan 1 to Dec 31, 2015 | in % | |
Net revenues Looser Group | 434,255 | 436,418 | -0.5 |
Growth after adjustments for currency, acquisition and divestment effects | +5.6 | ||
Net revenues Coatings segment | 137,883 | 139,563 | -1.2 |
Change after adjustments for currency effects | -0.9 | ||
Net revenues Industrial Services segment | 61,313 | 56,001 | +9.5 |
Growth after adjustments for currency and acquisition effects | +7.4 | ||
Net revenues Doors segment | 238,847 | 215,069 | +11.1 |
Growth after adjustments for currency effects | +9.3 | ||
Net revenues Temperature Control segment | -- | 29,7761 | -- |
1For 11 months
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