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Press release 30.07.2019

First half of 2019: pleasing sales growth despite drop in demand

Bucher Industries’ market environment was positive overall in the first half of 2019, but with declining demand, albeit from a high level. Accordingly, order intake declined slightly, while sales continued to rise. The operating profit margin fell slightly short of the strong margin achieved in the prior-year period. This interim report was prepared for the first time in accordance with the accounting standards of Swiss GAAP FER instead of IFRS. For the purpose of comparability, the prior-year figures were restated accordingly.

Contact

Investor Relations
Manuela Suter and Ivan Kühne
+41 43 815 80 50
ir@bucherindustries.com

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Key figures Group

CHF million

Change in

2018

2017

%

%1)

%2)

Order intake

3 205.9

2 870.7

11.7

10.1

9.3

Net sales

3 064.5

2 647.4

15.8

14.2

13.4

Order book

1 136.8

960.3

18.4

15.9

14.2

Operating profit before depreciation and amortisation (EBITDA)

372.7

318.0

17.2

as % of net sales

12.2%

12.0%

Operating profit (EBIT)

277.5

226.4

22.6

as % of net sales

9.1%

8.6%

Net financial result

–0.6

–1.1

45.5

Income tax expense

–61.6

–57.6

–6.9

as % of profit before tax

22.2%

25.6%

Profit/(loss) for the year

215.3

167.7

28.4

as % of net sales

7.0%

6.3%

Earnings per share in CHF

20.77

16.81

23.6

Capital expenditure

102.7

76.2

34.8

Operating free cash flow

100.7

148.2

–32.1

Research and development costs

–118.5

–110.0

–7.7

Net cash/debt

159.3

214.2

25.6

Total assets

2 773.5

2 719.8

2.0

Equity

1 489.6

1 432.1

4.0

Equity ratio

53.7%

52.7%

Return on equity (ROE)

14.7%

12.6%

Net operating assets (NOA) average

1 372.9

1 273.9

7.8

Return on net operating assets (RONOA after tax

15.7%

13.2%

Number of employees at 31 December

13 054

12 108

7.8

4.6

Average number of employees during year

12 636

11 707

7.9

6.8

Net sales per employee

CHF 1 000

243

226

7.5

5.8

6.2

1)Adjusted for currency effects

2)Adjusted for currencya and acquisition effects

Annual general meeting

The 36th ordinary annual general meeting of Bucher Industries AG will be held on 24 April 2020 and will start at 3.30 p.m., at the Mövenpick Hotel in Regensdorf, Switzerland.

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