provisional annual results for 2008: Stable performance in a difficult business environment
Steady sales trend – solid operating results with a balanced portfolio – high net profit following the sale of a business unit
Zurich, January 30, 2009. According to provisional annual figures, Orell Füssli recorded sales of some CHF 367.2 million in 2008. The slight decline in revenues of -3.0% compared with the previous year was due, among other things, to the sale of the Orell Füssli Business Information Division in mid-2008 and to currency translation effects. After adjustment for exchange rate movements, sales by the ongoing businesses increased by 1.5%. Orell Füssli expects to report operating earnings (EBIT) of CHF 38.5 million. Due to the book profit arising from the adjustment to the portfolio, net profit of some CHF 47.9 million is significantly higher than the previous year’s figure. The divisions making up the Orell Füssli portfolio made differing contributions to the stable overall annual results.
The machine manufacturing business of the Atlantic Zeiser Division failed to achieved its growth target, since orders from the USA and Asia were significantly lower in the third – and especially the fourth – quarter of 2008. The Orell Füssli Security Printing Division expanded its banknote business further and completed the extensive investment and structural alteration projects at the Zurich site on schedule. The sales trend at Orell Füssli Book Retailing featured growth in the first four months of the year, followed by an appreciable cooling-off in demand and subdued Christmas trading. Orell Füssli Publishing achieved significant growth in the non-fiction and picture postcard businesses.
Orell Füssli looks forward to the future with confidence. The current economic situation makes reliable estimates for the 2009 financial year difficult at present. Orell Füssli will publish detailed information on its annual results on April 7, 2009.
Key Figures for Orell Füssli
CHF m | 2007 | 2008* | Δ% |
Sales | 378.4 | 367.2 | -3.0% |
Operating earnings EBIT in % of sales | 42.2 11.2% | 38.5 10.5% | -8.8% |
Profit after minority interests in % of sales | 29.9 7.9% | 47.9 13.0% | +60.2% |
Number of employees | 1'118 | 1'104 | -1.3% |
*) provisional figures; corrections are possible in the context of auditing.
Orell Füssli is an international industrial and trading group focusing on the core businesses of banknote & security printing, industrial systems used in the personalisation 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 CHF 370 million with 1 100 employees at locations in 10 countries and is listed on the Swiss Stock Exchange.
Agenda
Press release: 2008 annual results:
April 7, 2009
Press conference: 2008 annual results, Zurich
April 7, 2009, 9:00 a.m.
Analyst conference: 2008 annual results, Zurich:
April 7, 2009, 10:30 a.m.
Annual General Meeting of Orell Füssli Holding Ltd., Zurich:
May 6, 2009, 3:30 p.m.
Press release: 2009 half-year results:
August 4, 2009
Investors’ Day Orell Füssli Insight, Zurich:
October 7, 2009
Information
Sönke Bandixen, CEO Orell Füssli
Phone +41 44 466 7273
investor-relations@ofh.ch
