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Conzzeta: Ongoing recovery in Q4 - increased result expectation for 2020

·3-min read

Conzzeta / Key word(s): Quarterly / Interim Statement

03-Feb-2021 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.

Interim information as of the end of 2020
Ongoing recovery of revenue and orders in Q4 - increased result expectation for 2020

Zurich, February 3, 2021 - The Conzzeta Group posted net revenue of CHF 1,283.5 million in 2020. At constant exchange rates and taking changes in the scope of consolidation into account, revenue was down 10.4% on the previous year. The decline for nine months had been 11.8%.

CHF m

 

 

Change in %

12M 2020

12M 2019

reported

organic1)

Group net revenue

1,283.5

1,573.2

-18.4%

-10.4%

 

 

 

 

 

Sheet Metal Processing

 

 

 

 

Order intake

777.4

929.4

-16.4%

-11.4%

Net revenue

801.4

936.0

-14.4%

-9.4%

 

 

 

 

 

Net revenue of discontinued operations

 

 

 

 

Chemical Specialties

264.02

346.62

-23.8%

-9.0%

Outdoor

218.4

268.4

-18.6%

-16.2%

Glass Processing

-

22.4

-

-

1 At constant exchange rates and adjusted for changes in the scope of consolidation.
2 Incl. Schmid Rhyner (CHF 6.9 million 2020 and CHF 49.7 million 2019).

The acceleration in customer activity that was anticipated upon publication of the pandemic-hit first half-year results in August was confirmed once again in Q4. In Q4, order intake in the Bystronic business unit (Sheet Metal Processing) and net sales in the FoamPartner business unit (Chemical Specialties) were higher than in the same period of the previous year, before the outbreak of the pandemic. With broad regional support, net revenue in Q4 increased by 14.9% versus Q3 and incoming orders at Bystronic rose by 23.5%. In the Mammut business unit (Outdoor), the adverse revenue effect in Q4 caused by the new closure of physical retail locations due to the pandemic was largely offset by the continued progress in the digital channels.

The announced transformation of the Group with the focus on Bystronic continues to proceed largely according to plan. The Group plans to communicate additional implementation steps when it publishes its 2020 annual financial statements at the results conference on March 16, 2021.

The ongoing recovery of business activities in Q4 allows to adjust and specify the previously communicated expectation for the Group's operating result. Conzzeta now expects for 2020 an operating result (EBIT) in the range of CHF 75 million to CHF 80 million, including the final divestment gain of CHF 47.4 million from the sale of the Schmid Rhyner business unit (Chemical Specialties) as per the end of February 2020.

Inquiries
Michael Stäheli, Head Investor Relations & Corporate Communications;
Tel. +41 44 468 24 49; media@conzzeta.com


About Conzzeta
Conzzeta is a diversified Swiss group of companies. It stands for innovation, market orientation and an entrepreneurial approach. About 5,000 employees at more than 60 locations worldwide work in sheet metal processing, foam materials and outdoor. In December 2019, Conzzeta announced a strategic focus on the Sheet Metal Processing segment and the sale of all its other activities. Conzzeta AG is listed on the SIX Swiss Exchange (SIX:CON).


End of ad hoc announcement

Language:

English

Company:

Conzzeta

Giesshübelstrasse 45

8045 Zürich

Switzerland

Phone:

+41 44 468 24 49

Fax:

+41 44 468 24 53

E-mail:

info@conzzeta.com

Internet:

www.conzzeta.com

ISIN:

CH0244017502

Valor:

A117LR

Listed:

Regulated Unofficial Market in Berlin, Frankfurt, Stuttgart; SIX Swiss Exchange

EQS News ID:

1165280


 

End of Announcement

EQS Group News Service

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