EANS-Adhoc: Von Roll Holding AG / Result for 2012 heavily impacted by one-off effects (with document)

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Annual Reports/annual report
18.03.2013

» 9.7% order intake decline to CHF 505.1 million
» 8.5% sales decline to CHF 497.1 million
» CHF -50.1 million EBIT mainly as a result of impairments

Au / Wädenswil, March 18, 2013 - Von Roll Holding Ltd. today
published its results for the 2012 financial year. 2012 was a
disappointing year for Von Roll. Order intake declined to CHF 505.1
million in 2012 (2011: CHF 559.6 million). Von Roll Group sales for
the financial year 2012 totaled CHF 497.1 million (2011: CHF 543.3
million). Insulations segment sales declined by 7.6 % and Composites
segment sales by 7.1 %. Serious delivery delays impacted Transformer
business line sales by 26 %, although the underlying production
bottleneck problems were resolved in the last quarter. Regional sales
development was affected by economic market environments. Americas
region sales declined by CHF 14.2 million to CHF 126.9 million (2011:
CHF 141.1 million). In Europe, the persistent market weakness
resulted in a 7.6 % sales decline to CHF 259.2 million (2011: CHF
280.6 million). Sales in the Asia Region declined to CHF 111.0
million (2011: CHF 121.6 million), in particular due to the wind
power business situation in India. The negative EBIT of CHF 50.1
million is mainly attributable to a combination of operating losses
and impairments in the Transformer business. Extensive impairments
were necessary for Transformer business in Israel, and also for the
Shenzhen Insulations business in China due to nonattainment of the
high margins assumed at the time of acquisition. Although positive
after adjustment for one-off effects, the combined EBIT of the
Insulations and Composites segments were disappointingly below the
prior year result. Overall, the negative net income of 64.5 million
is attributable to numerous nonrecurring effects. Operating cash flow
is now positive after an encouraging rise of CHF 21 million compared
with prior year.

The Insulations and Composites segments order intake remained weak at
the beginning of 2013. Also overall, recessionary effects are still
predominant in Europe. Generally seen a short-term order intake trend
as well as a limited business visibility can be observed. Despite the
unfavorable business environment at the present time, Von Roll still
adheres to the principle of the Group strategy announced last year.
Since conditions in general have worsened, not least due to the
difficult economic situation, the strategy implementation timeframe
must be adapted realistically. A number of investment projects were
nevertheless launched last year. One of the largest, for example,
involves comprehensively renewing most of the production and
logistics systems at the main location in Breitenbach, Switzerland.
Furthermore, several projects for new product developments and
quality improvements are already in the pipeline.

For further details please refer to the Annual Report 2012, which can
be downloaded at http://www.vonroll.com/en/financial-reports.html

end of ad-hoc-announcement ==========================================
====================================== About Von Roll Holding Ltd: As
one of Switzerland's longest established industrial companies, Von
Roll focuses on products and systems for power generation,
transmission and distribution. Von Roll employs about 2 800 people at
more than 30 locations in 19 countries, and is global market leader
for insulation products, systems and services.

This press release contains information that is based on the current
state of knowledge. Unforeseeable risks and events could potentially
result in circumstances that deviate from the statements made. Minor
deviations from the stated figures may arise due to rounding
differences. For more detailed information on the company and
business developments, please refer to the Von Roll Holding Ltd.
Annual Report.

Attachments with Announcement:
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Further inquiry note:
Julia Dunkake
Corporate Communications
T: +41 44 204 3032, F: +41 44 204 3039, E: press@vonroll.com

end of announcement euro adhoc
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Attachments with Announcement:
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issuer: Von Roll Holding AG
Steinacherstrasse 101
CH-8804 Au / Wädenswil
phone: +41 (0)44 204 30 34
FAX: +41 (0)44 204 30 39
mail: press@vonroll.com
WWW: http://www.vonroll.ch
sector: Misc. Industrials
ISIN: CH0003245351
indexes: SPI, Midcap Market Index
stockmarkets: Main Standard: SIX Swiss Exchange
language: English