Von Roll : order intake increased in the first half of 2014

» Sales: CHF 246.1 million
» Order intake: CHF 243.3 million
» EBIT: CHF 1.9 million

Au/Wädenswil, 21 August 2014 - In the first half of 2014, the order intake of the Von Roll Group increased by 6.4 % to CHF 243.3 million and the order bank rose by 8.4 % to CHF 129.8 million compared with the same period in the previous year. Sales increased slightly by 0.1 % to CHF 246.1 million. Adjusted for exchange rate and copper price effects, sales would have totalled CHF 256.9 million, 4.5 % more than in the corresponding period last year.

EBIT amounted to CHF 1.9 million as against CHF 2.1 million in the first half of 2013, with restructuring costs and start-up expenses for the growth strategy continuing to have a negative effect. Earnings before interest, tax, depreciation and amortisation (EBITDA) grew by 11.5 % to CHF 10.2 million. Net income stood at CHF -3.6 million compared with CHF -3.9 million in the first half of 2013. Cash flow from operating activities totalled CHF -9.2 million as against CHF -2.8 million in the corresponding period last year. The number of employees fell by 8.4 % to 2,521 fulltime positions.

The Insulation division achieved a recovery, particularly in the EMEA region, leading to an increase in its order intake worldwide of 6.4 % and a growth in sales of 2.6 % compared with the first half of 2013. In EMEA, the new strategy is already beginning to deliver results: greater proximity to customers, a stronger focus on new products and the successful acquisition of Albesiano Sisa Vernici S.r.l. confirm that the path chosen is the right one. Order intake increased in all three regions - America, Asia and EMEA - and was up on the previous year.

Sales in the Composites division fell by 7.6 %. All three regions were equally affected by the sluggish demand. Unlike last year, there were no sizeable one-off projects received from the thermal insulation sector. Reduced defence budgets also had a negative impact on the ballistics business.

The Technologies division, particularly the Transformers business unit, enjoyed a slight upturn.

The "Delta Integrale" transformation process begun in 2013 is continuing to be implemented at high speed. The first phase, which involves creating a lean, market-driven and customer-centred organisational structure, is largely completed. The second phase, the consolidation of the global production units, has begun and is currently being put into practice.

The third phase, which focuses on growth, has also been initiated and is currently being implemented. The primary focus of this phase is to identify attractive market segments and launch corresponding activities in all regions. Appropriate new development activities have begun in the Composites division, e.g. electromobility. In the Insulation division groundwork for expansion in the liquids market segment is being laid in all regions.

More detailed information can be found in the Semi-Annual Report 2014. This is available in digital form at http://www.vonroll.com/en/financial-reports.html. 

About Von Roll Holding AG:
As a Swiss industrial company Von Roll Holding AG focuses on products and systems for power generation, transmission and distribution. Von Roll is a global market leader for insulation products, systems and services and has a presence in 20 countries with about 2,520 employees at over 30 sites.

Contact:
Claudia Guentert, Corporate Communications
T: +41 44 204 3529, F: +41 44 204 3007, E: press@vonroll.com

This press release is based on information currently available. Unforeseeable risks and influences may lead to discrepancies with the statements made here. Furthermore, rounding differences may lead to discrepancies in the reported figures. For more information on the company and its business performance, please refer to the Annual and Semi-Annual Report of Von Roll Holding AG which is available in digital form at http://www.vonroll.com/en/financial-reports.html.