Press releases
- Cash flow from operating activities of CHF 21.2 million (previous year: CHF 5.3 million)
- EBITDA of CHF 25.1 million (previous year: CHF 20.4 million)
- EBIT of CHF 4.4 million at previous year's level (previous year: CHF 4.5 million)
- Equity ratio improved to 66.5% (previous year: 28.2%)
Breitenbach, 13 March 2019 – In the financial year 2018, Von Roll successfully continued its recovery trend and significantly improved key performance indicators.
Cash flow from operating activities increased significantly to CHF 21.2 million (2017: CHF 5.3 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) also improved to CHF 25.1 million, up 23.0 % on the previous year.
As a result of the divestment of loss-making business activities and the associated one-off special charges, group sales were down year-on-year by –3.3 % to CHF 321.4 million. Nevertheless, the operating result of CHF 4.4 million was maintained at the previous year's level.
Following the almost complete conversion of the bonds, the equity ratio is now around 66.5% (previous year: 28.2%).
The net result amounted to CHF –10.7 million and was significantly impacted by non-recurring expenses of CHF –9.7 million and interest expenses of CHF –4.5 million for the convertible bonds, which will be almost completely eliminated from 2019 as a result of the conversion that took place.
| Key figures | | | |
| in CHF 1,000 | 2018 | 2017 | Change |
| Order intake | 335,890 | 336,141 | –0.1% |
| Net sales | 321,387 | 332,357 | –3.3% |
| Thereof Insulation | 229,648 | 228,787 | +0.4% |
| Thereof Composites | 91,739 | 103,570 | –11.4% |
| EBITDA | 25,117 | 20,415 | +23.0% |
| EBIT | 4,358 | 4,475 | –2.6% |
| Net income for the period | –10,712 | –4,771 | –124.5% |
| Cash flow from operating activities | 21,231 | 5,307 | +300.1% |
| Equity ratio | 66.5% | 28.2% | +38.3 ppt |
| Number of employees (FTE) | 1,264 | 1,536 | –17.7% |
About Von Roll Holding AG: As a Swiss industrial company, Von Roll Holding AG focuses on products and systems for power generation, transmission, storage and distribution. Von Roll is a global market leader for electrical insulation products, systems and services and has a worldwide presence in 14 production sites with round 1,250 employees. The company supplies customers in over 80 countries.
Contact: Claudia Güntert, Corporate Communications
T: +41 61 785 52 36, F: +41 61 785 58 92, 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. 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 https://www.vonrollgroup.com/en/.
Breitenbach, December 10, 2018 – Considering the positive development in operating performance, the majority shareholder has decided to convert the convertible bonds it holds with a total nominal value of CHF 163,355,000.
This results in a significant strengthening of the capital base of Von Roll and leads to an equity ratio of more than 68%. CEO Dr. Christian Hennerkes comments: "We regard this step as a strong proof of trust which opens up completely new opportunities for the ongoing strategic realignment of the Group. In addition, the stronger equity base together with the improved operating cash flow will enable us to approach also non-organic growth in the future".
At the same time, Von Roll continues to systematically expand its product portfolio and to transform its decades of expertise in the field of electrical and thermal insulation into the rapidly growing market for e-mobility.
The conversion will increase net income by CHF 6 million annually from 2019.
Notice of conversion:
Breitenbach, 10 December 2018 - Privatbank IHAG Zürich AG, lead manager and conversion agent of Von Roll Holding AG, announced on 7 December 2018 that on 7 December 2018, in connection with the convertible bond issued by Von Roll Holding AG on 18 June 2014 with an issue volume of CHF 61,000,000 and a due date of 18 June 2020 CHF 14,895,000 of the outstanding CHF 21,000,000 and in connection with the convertible bond issued by Von Roll Holding Ltd on 11 April 2016 with an issue volume of CHF 150,000,000 and with due date 11 April 2022 CHF 148,460,000 of the outstanding CHF 149,567,000 were converted.
Based on the figures published in the half-year financial statements, this leads to an increase in shareholders' equity of CHF 147,740,000 from CHF 107,935,000 to CHF 255,675,000. The share capital listed in the Commercial Register will increase from a nominal value of CHF 20,176,855.50, corresponding to 201,768,555 bearer shares with a nominal value of CHF 0.10 each, to a nominal value of CHF 35,654,480.40, corresponding to 356,544,804 bearer shares, as a result of the conversions mentioned above and already received earlier in the year.
About Von Roll Holding AG: As a Swiss industrial company, Von Roll Holding AG focuses on products and systems for power generation, transmission, storage and distribution. Von Roll is a global market leader for electrical insulation products, systems and services and has a worldwide presence in 14 production sites with 1,450 employees. The company supplies customers in over 80 countries.
Contact: Claudia Güntert, Corporate Communications
T: +41 61 785 52 36, F: +41 61 785 58 92, 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. 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 https://www.vonrollgroup.com/en/.
Breitenbach, December 3, 2018 – The Swiss specialist for electrical insulation systems is launching a new entity for the fast-growing e-mobility segment. Jens Lange, who previously held management positions at Mitsubishi Electric B.V. and Borg Warner Inc., will become Managing Director of Von Roll Automotive, headquartered in Augsburg, Germany.
Jens Lange comments his new role as follows: "The electrical insulation system is the heart of every electric motor. As the world market leader in this field, Von Roll has outstanding products and expertise. I am therefore convinced that we can make a significant contribution to making our customers' motors more efficient and longer-lasting."
Based in Breitenbach (near Basel), the Von Roll Institute is also one of the world's leading laboratories for high-voltage insulation. The institute's research team works hand in hand with the newly opened "Automotive" unit to develop innovative solutions. In Augsburg, various series-production projects with well-known automobile manufacturers are already underway.
Due to the ongoing dynamics in the automotive markets, Von Roll is in final negotiations for various major orders from internationally renowned vehicle manufacturers.
About Von Roll Holding AG: As a Swiss industrial company, Von Roll Holding AG focuses on products and systems for power generation, transmission, storage and distribution. Von Roll is a global market leader for electrical insulation products, systems and services and has a worldwide presence in 14 production sites with 1,450 employees. The company supplies customers in over 80 countries.
Contact: Claudia Güntert, Corporate Communications
T: +41 61 785 52 36, F: +41 61 785 58 92, 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. 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 https://www.vonrollgroup.com/en/.
Breitenbach, September 18, 2018 – Von Roll reports today that its Von Roll Shanghai Co. Ltd. plant in China has been awarded the official IATF (International Automotive Task Force) certification. The IATF Directive is an independent standard for the automotive industry, based on the requirements of ISO 9001 and dedicated to harmonizing standards to improve product quality for automotive customers.
The certificate also includes the category "Design and manufacture of flexible low-voltage laminate materials for automotive engine generators".
Yong Yang, General Manager Operations China, says: "The certification of our plant in China is an important step for our current and future projects in the automotive sector. This enabled us to win a major order worth several million euros from one of the world's leading automotive groups. At the same time, many new opportunities are opening up for large-volume orders from international automotive companies producing in China."
About Von Roll Holding AG: As a Swiss industrial company, Von Roll Holding AG focuses on products and systems for power generation, transmission, storage and distribution. Von Roll is a global market leader for electrical insulation products, systems and services and has a worldwide presence in 15 sites with 1,450 employees.
Contact: Claudia Güntert, Corporate Communications
T: +41 61 785 52 36, F: +41 61 785 58 92, 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. 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 https://www.vonrollgroup.com/en/.
Breitenbach, August 23, 2018 – Von Roll Holding AG announced today that a new five-year supply contract has been signed between Renault and Von Roll France SA. Von Roll already supplies products for the Renault ZOE, the company’s electric car model, which is a pioneering breakthrough in the area of e-mobility.
The total contract volume is budgeted in the double-digit million range. Renault, driven by its very ambitious goals, is investing more than EUR 1 billion in e-mobility.
Dominique Larrenduche, Head of Global Sales Resins Product Line, says: “We are extremely proud to have been chosen as a long-term strategic partner by Renault. This success is based on a long-term technical development partnership between this highly innovative automotive company and the recognized leader in electrical insulation systems.”
Von Roll is also expanding other important and active partnerships with leading electric car manufacturers worldwide and driving the development of new solutions for electric vehicles.
About Von Roll Holding AG: As a Swiss industrial company, Von Roll Holding AG focuses on products and systems for power generation, transmission, storage and distribution. Von Roll is a global market leader for electrical insulation products, systems and services and has a worldwide presence in 14 production sites with 1,450 employees. The company supplies customers in over 80 countries.
Contact: Claudia Güntert, Corporate Communications
T: +41 61 785 52 36, F: +41 61 785 58 92, 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. 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 https://www.vonrollgroup.com/en/.
- Operating income (EBIT) of CHF 8.8 million (EBIT margin 5.2%)
- Cash flow from operating activities of CHF 6.9 million (previous year: CHF 0.2 million)
- Gross margin improved to 21.3%
- Net income of CHF 1.0 million (previous year: CHF 0.4 million)
Breitenbach, August 21, 2018 – In the first half of 2018, the Von Roll Group achieved a positive operating result of CHF 8.8 million (previous year: CHF 7.5 million), reconfirming the successful realignment of the Group.
The positive key financial figures for the first half of 2018 result from the strict focus of the Von Roll Group on profitable business segments combined with increased productivity. The EBIT margin increased to 5.2% (previous year: 4.3%) and the gross margin to 21.3% (previous year: 20.3%). Cash flow from operating activities also developed positively, totaling CHF 6.9 million, which is significantly above the previous year's level.
The slightly lower sales revenue of CHF 169.8 million compared to the previous year as well as the 3% drop in order intake result from the divestment of two production plants in the USA (Austral) and China (Mica Luhe). After adjusting the sales in 2017 and 2018 for these divestments, sales increased by CHF 4.1 million or 2.6% compared to the previous year.
The fitness program, which has been successfully implemented since the beginning of 2017, shows significant effect and will continue to contribute to a permanent increase in operating earnings in the coming months. At the same time, new products and business segments such as e-mobility and aerospace offer opportunities for future growth.
Key figures
| in CHF 1,000 | 1H 2018 | 1H 2017 (restated) | Change |
| Order intake | 180,810 | 186,375 | -3.0% |
| Net sales | 169,767 | 173,868 | -2.4% |
| Thereof Insulation | 119,440 | 120,799 | -1.1% |
| Thereof Composites | 50,361 | 53,227 | -5.4% |
| Thereof other activities | -34 | -158 | 78.5% |
| EBIT | 8,829 | 7,531 | 17.2% |
| Net income for the period | 954 | 402 | 137.3% |
| Cash flow from operating activities | 6,861 | 150 | 4474,0% |
| Equity ratio (%) | 28.7% | 27.0% | 1.7 ppt |
| Number of employees (FTE) | 1,437 | 1,601 | -10.2% |
Further information can be found in the Semi-Annual Report 2018, which is available in digital form at http://www.vonrollgroup.com/en/.
About Von Roll Holding AG: As a Swiss industrial company, Von Roll Holding AG focuses on products and systems for power generation, transmission, storage and distribution. Von Roll is a global market leader for electrical insulation products, systems and services and has a worldwide presence in 14 production sites with 1,450 employees. The company supplies customers in over 80 countries.
Contact: Claudia Güntert, Corporate Communications
T: +41 61 785 52 36, F: +41 61 785 58 92, 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. 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 https://www.vonrollgroup.com/en/.
Breitenbach, 24 July 2018 – Von Roll Holding AG has announced the opening this week of a new eDrive test laboratory at the Von Roll Institute in Breitenbach. The new laboratory focuses exclusively on testing electrical insulating materials used in electric vehicle engines.
Christoph Herold, Director and Head of the Von Roll Institute says: "Projects in connection with electromobility are in great demand. The drives are increasingly moving towards high voltage with 800 volts and higher. We support manufacturers of electric vehicles worldwide in applying high-voltage standards to leading technology products. With our many years of experience and our highly specific measuring methods, we help to improve the longevity and efficiency of electric motors. Nearly all the world's leading manufacturers of electric vehicles rely on the analyses and test results of the Von Roll Institute.”
Von Roll has been developing innovative products for the automotive market since the early days of electromobility. Among other things, the new eDrive laboratory tests electric drives driven by power electronic components. These converters control the speed of the motor and thus convert the pressure on the accelerator pedal into electrical pulses. The insulation material is thus exposed to significantly higher voltages, temperatures and frequencies. The systems for high-frequency high-voltage loads, which were specially developed for the new test laboratory, are among the most modern testing technologies worldwide.
More information can be found at https://www.vonroll.institute/en.
Pictures from the institute can be downloaded here
-->Von Roll Institute Picture 1
-->Von Roll Institute Picture 2 Testing
About Von Roll Holding AG: As a Swiss industrial company, Von Roll Holding AG focuses on products and systems for power generation, transmission, storage and distribution. Von Roll is a global market leader for electrical insulation products, systems and services and has a worldwide presence in 15 sites with 1,450 employees.
Contact: Claudia Güntert, Corporate Communications
T: +41 61 785 52 36, F: +41 61 785 58 92, 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. 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 https://www.vonrollgroup.com/en/.
Breitenbach, May 22, 2018 - Von Roll Holding AG is selling its production site in Luhe, China to its long-standing sales partner Goode EIS. In Luhe, primarily mica paper and pressed mica plates are produced. Von Roll also produces mica paper at two other sites in France and Brazil.
Dr. Christian Hennerkes, CEO, says: "This transaction offers a good opportunity to further streamline our global production structures while successfully divesting a low-margin commodity business with annual sales of just under CHF 13 million. The Von Roll Group will receive over CHF 10 million from the sale. Furthermore, with this step we want to concentrate all activities in China on the expansion of our site in Shanghai, where we already generate the majority of our sales in Asia with highly developed surface and liquid insulating materials.“
About Von Roll Holding AG: As a Swiss industrial company, Von Roll Holding AG focuses on products and systems for power generation, transmission, storage and distribution. Von Roll is a global market leader for electrical insulation products, systems and services and has a worldwide presence in 18 sites with 1,536 employees.
Contact: Claudia Güntert, Corporate Communications
T: +41 61 785 52 36, F: +41 61 785 58 92, 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. 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 https://www.vonrollgroup.com/en/.
Breitenbach, 25 April 2018 – All proposals presented by the Board of Directors at the 195th Annual General Meeting of Von Roll Holding AG held at the Mövenpick convention center Zurich-Regensdorf on 24 April 2018 were approved by a substantial majority of shareholders.
The annual report, financial statements and consolidated statements for the 2017 financial year as well as the reports of the statutory auditors were approved. The actions of the Board of Directors and Group Management were approved for the fiscal year 2017.
Dr. Peter Kalantzis, Gerd Amtstätter, Guido Egli, August François von Finck, Dr. Christian Hennerkes and Gerd Peskes were elected to another statutory one-year term as Members of the Board of Directors. Dr. Peter Kalantzis was confirmed by the shareholders’ assembly as President of the Board of Directors for the next period.
All candidates for the Remuneration Committee, notably Gerd Amtstätter, Guido Egli and August François von Finck, were reelected. The proposal put forward by the Board of Directors to reelect Deloitte AG, Zurich, as statutory auditors for the fiscal year 2018 was confirmed. Moreover, the change to the articles of incorporation was approved. The shareholders approved all remuneration proposals for the Board of Directors and the Executive Board.
About Von Roll Holding AG: As a Swiss industrial company, Von Roll Holding AG focuses on products and systems for power generation, transmission, storage and distribution. Von Roll is a global market leader for electrical insulation products, systems and services and has a worldwide presence in 20 sites with 1,536 employees.
Contact: Claudia Güntert, Corporate Communications
T: +41 61 785 52 36, F: +41 61 785 58 92, 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. 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 https://www.vonrollgroup.com/en/.
Financial calendar
196. Shareholder's meeting (Luzern)
Publication of semi-annual result 2019