Orell Füssli: lower sales and profits in 2009

Difficult market conditions in the industrial business – production postponements in security printing – net profit in the expected range – confident outlook for 2010.

Zurich, February 9, 2010. Orell Füssli’s provisional annual figures for 2009 report sales of CHF 306 million (-17% compared with 2008). After adjustment for exchange rate movements, sales by ongoing businesses were -13% lower. The number of employees declined by -7%. Orell Füssli expects to report operating earnings (EBIT) of CHF 23 million and net profit of CHF 15 million for the 2009 financial year. Results at all divisions in Orell Füssli’s portfolio were lower than the previous year’s figures.

After the severe setback suffered by the Atlantic Zeiser Division’s machine manufacturing operations in the first half of 2009, the trend of business stabilised at a low level in the second six months. Despite posting positive operating earnings in the second half of the year, the Atlantic Zeiser Division reported negative earnings for the financial year as a whole. As expected, sales and profits at the Orell Füssli Security Printing Division were considerably below the previous year’s figures, as supplier-related delays caused postponement of major banknote orders. The trend of business at the Orell Füssli Book Retailing Division reflected maintained overall sales levels and high start-up costs at the branches opened about a year ago. The Orell Füssli Publishing businesses couldn’t match the previous year’s results.

For the current year 2010 Orell Füssli expects the international capital goods market to become firmer, security printing to further grow in the face of increasing competition and the trend in book retailing to remain flat. Orell Füssli will publish detailed annual figures for 2009 on April 8, 2010.

Smaller Group Executive Board

Orell Füssli is increasing the management autonomy of the divisions in the fields of IT and Human Resources and at the same time reducing the size of the group executive management team. After completion of the reorganisation, the Chief Information Officer and the Group Head of Human Resources will leave the group executive board.

Key figures for Orell Füssli

1) Provisional figures for 2009; corrections are possible in the course of auditing.

Agenda

Press release: 2009 annual results
April 8, 2010

Results press conference, Zurich
April 8, 2010, 9:00 a.m.

Presentation to financial analysts, Zurich
April 8, 2010, 10:30 a.m.

Annual General Meeting of Orell Füssli Holding Ltd., Zurich
May 11, 2010, 3:30 p.m.

Press release: half-year results 2010
August 5, 2010

In brief

Information

Sönke Bandixen, CEO Orell Füssli
Phone +41 44 466 7273
ceo[at]orellfuessli.com

Orell Füssli is an international industrial and trading group focusing on the core businesses of banknote & security printing, industrial systems used in the individualisation of security documents and branded products, and book retailing. The book publishing business has formed the traditional basis for the Zurich-based company – since 1519. Orell Füssli generates sales of some CHF 310 million with 1 050 employees at locations in 10 countries and is listed on the Swiss Stock Exchange.