Looser Holding, headquartered in Arbon (Switzerland), reported net revenues of 115.6 million Swiss francs as of 31 March 2010 (prior year: 109.7 million Swiss francs). The operating result (EBITDA) amounted to 14.0 million Swiss francs or 12.1 percent of net revenues. The EBITDA margin thus slightly declined against the previous year when the Group recorded 13.8 million Swiss francs or 12.6 percent of net revenues.
The Group’s revenue growth amounted to 5.5 percent and to 6.7 percent after acquisition-related and currency adjustments. In addition, all of the Group’s four business divisions experienced a positive development in the first quarter 2010. Revenue growth achieved in the Temperature Control and Coatings divisions was even in the double-digit range. The Group closed the 1st quarter 2010 at a level slightly below that of the prior year with consolidated net income before minority interests of 4.5 million Swiss francs, corresponding to a decline by approx. 0.6 million Swiss francs against the previous year. The Euro’s negative currency effect markedly affected the operating result (EBITDA) and consolidated net income in the 1st quarter.
Prospects
A positive development of the revenue and earnings situation is expected in all four business divisions. Provided that the development of the global economic environment is favorable, Looser Holding expects its revenues and profits to grow in the financial year 2010.
Key figures of the Looser Group
| (amounts in thousands of Swiss francs) |
1/1-31/3/10 |
1/1-31/3/09 |
+ / - in % |
| Net revenues |
115,643 |
109,657 |
+ 5.5%* |
| Earnings before interest, taxes, depreciation and amortization (EBITDA) |
13,991 |
13,790 |
+ 1.5% |
| EBITDA as a percentage of net revenues |
12.1% |
12.6% |
|
| Earnings before interest and taxes (EBIT) |
9,692 |
9,517 |
+ 1.8% |
| EBIT as a percentage of net revenues |
8.4% |
8.7% |
|
| Consolidated net income |
4,560 |
5,165 |
|
| Earnings per registered share in CHF |
1.18 |
1.68 |
|
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31/3/2010 |
31/3/2009 |
|
| Shareholders’ equity |
210,074 |
176,984 |
|
| Equity ratio in % |
39.7% |
33.0% |
|
| Net debt |
142,826 |
200,787 |
|
| Number of employees at end of period |
1,639 |
1,608 |
|
| *after acquisition-related and currency adjustments: + 6.7% |
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About Looser Holding AG
Looser Holding AG is an international industrial holding company headquartered in Arbon, Switzerland. The corporate Group is active in the Coatings, Temperature Control, Industrial Services and Doors sectors. Around 1,600 employees work for the Group in 22 operational facilities in Europe, Asia and the U.S.A. Looser Holding AG’s registered shares are listed on the SIX Swiss Exchange. |
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Finance agenda
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30 April 2010
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Annual general meeting of Looser Holding |
| 17 August 2010 |
2010 mid-year results press release |
| 8 November 2010 |
2010 Q3 results press release |
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To the editorial office:
Text and pictures are available for downloading at:
www.looserholding.com/medien
For further information please contact:
Tim Talaat, CEO, Chairman of the Group Executive Board
Christoph Fierz, CFO
Telephone: +41 (0) 71 447 20 80
Fax: +41 (0) 71 447 20 81
E-Mail: info@looserholding.com
Internet: www.looserholding.com