EQS-Adhoc: Von Roll Holding AG: First half-year results 2016

EQS Group-Ad-hoc: Von Roll Holding AG / Key word(s): Half Year Results Von Roll Holding AG: First half-year results 2016

2016-08-25 / 07:00 Release of an ad hoc announcement pursuant to Art. 53 KR.

*Von Roll Holding AG: First half-year results 2016*

Au/Wädenswil, 25 August 2016 - There were no significant changes in the relevant market segments compared with the previous year. Market recessions had a negative impact, and weak sales led to an operating EBIT of CHF -5.4 million as against CHF -6.6 million in 2015. Although the loss was reduced year on year, the overall result clearly does not meet expectations.

The actions taken within the transformation strategy, such as consolidating plants and launching new products, have already begun to bear fruit:

- Gross profit increased by 11.1% year on year despite weak sales.

- The gross margin rose from 16.3% to 19.7%.

- The cost-cutting programmes that were launched last year and that have already been implemented resulted in savings as intended.

In the largest segment, Insulation, the gross margin increased in all product areas, confirming the benefits of the transformation process and sending out a positive signal for the future. In addition, the power generation market segment stabilised. Sales were weaker in the high-voltage motors and fire-resistant cables sectors. Both markets are heavily dependent on the crude oil price, which means a noticeable decline in orders from the oil- and gas industry. In the Insulation segment the operating EBIT increased from CHF -4.0 million to CHF 0.8 million.

By contrast, the Composites segment posted disappointing results, with both sales and operating EBIT down on the previous year. This was primarily due to a lack of orders in the ballistics and aluminium smelter segments.

The results for the first half of the year show that there is still a long way to go in improving the operating business. The transformation and focus on new growth segments such as electromobility and wind power, as well as the adjustment of capacity levels are not yet complete. As a consequence of the site closures towards the end of 2015, the number of positions was reduced by 13.5% compared with the previous year.

As announced in early July 2016, further measures are planned to save CHF 18 million in costs from 2017 onwards. Savings of around CHF 4 million are already expected for the second half of 2016, while restructuring costs will amount to some CHF 8 million. The refinancing of the bond to be redeemed in October 2016 has been secured.

Further information can be found in the Semi-Annual Report 2016. This is available in digital form at http://www.vonrollgroup.com/en/ [1].

*Key figures*

*in CHF 1,000* *1H 2016* *1H 2015* *Change* *Order intake* *172,385* *190,967 *-9.7%* * *Net sales* *174,098 * *189,097 *-7.9%* * Thereof Insulation 118,979 124,344 -4.3% Thereof Composites 51,309 58,173 -11.8% Thereof other activities 3,810 6,580 -42.1% *EBIT* *-5,384 * *-6,557 * *17.9%* *Net income for the period* *-11,134 * *-15,939 *30.1%* * *Cash flow from operating *-12,583 * *-16,822 *25.2%* activities* * *Equity ratio (%)* *14%* *22%* *-8 ppt* *Number of employees (FTE)* *1,856 * *2,146 * *-13.5%*

_About Von Roll Holding AG: As a Swiss industrial company Von Roll Holding AG focuses on products and systems for power generation, transmission and storage. Von Roll is a global market leader for electrical insulation products, systems and services and has a worldwide presence in about 28 sites in 15 countries with 1,856 employees._

*Contact:* Claudia Güntert, Corporate Communications T: +41 44 204 35 29, F: +41 44 204 30 07, 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.vonrollgroup.com/en/ [1]*.*

End of ad hoc announcement

2016-08-25 News transmitted by Tensid EQS AG. www.eqs.com Language: English Company: Von Roll Holding AG Steinacherstr. 101 8804 Au Switzerland Phone: +41 44 204 3500 Fax: +41 44 204 3007 E-mail: reception@vonroll.com Internet: www.vonroll.com ISIN: CH0003245351 Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart; Open Market in Frankfurt ; SIX

End of News EQS Group News Service 495713 2016-08-25

1: http://public-cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=19bfa6cd9c7a1e5a6151116adf8e9599&application_id=495713&site_id=vwd&application_name=news (END) Dow Jones Newswires

   August 25, 2016 01:00 ET (05:00 GMT)- - 01 00 AM EDT 08-25-16