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| 2008: Turnover of CHF 1.633bn - Significant decrease of forecasted 2008 results confirmed - Beginning of 2009: adequate measures taken and planned to cope with the new levels of activities |
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2008 started with an excellent backlog. During the first half-year, the order entries, although below the 2007 level, were in line with expectations. Since September 2008, the order intake declined sharply in all product lines and all geographic areas; a situation never experienced before. The consolidated turnover for the full year 2008 amounts to CHF 1.633bn, a decrease of CHF 111m or -6.4% compared to the record year 2007. This evolution is due to the following elements:
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Millions
of CHF |
% |
| Decrease in volume |
-123 |
-7.1 |
| Increase due to the change in scope of consolidation |
93 |
5.3 |
| Exchange rate variance |
-81 |
-4.6 |
| Decrease in turnover |
-111 |
-6.4 | |
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The geographical distribution shows a positive progression of the European zone which represents 56.4% of the total turnover (2007: 51.9%). The three other zones, all in regression, represent 24.4% of the total turnover for the Americas (2007: 25.2%), 16.8% for Asia & Oceania (2007: 20.3%), and 2.4% for Africa (2007: 2.6%).
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Sales
2007 |
2008 Evolution |
Sales
2008 |
| Volume evolution |
Change
in scope |
Exchange
rate variance |
| Zones |
millions
of CHF |
millions
of CHF |
millions
of CHF |
millions
of CHF |
millions
of CHF |
| Europe |
905 |
-5 |
49 |
-28 |
921 |
| Americas |
439 |
-38 |
33 |
-35 |
399 |
| Asia & Oceania |
354 |
-74 |
11 |
-17 |
274 |
| Africa |
46 |
-6 |
0 |
-1 |
39 |
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1'744 |
-123 |
93 |
-81 |
1'633 | |
The turnover shown by business area emphasizes the difficult year for the folding carton sector (-18.2%) and, to a lesser degree, for the corrugated board industry (-6.4%). The Business Area Flexible Materials progresses due to the integration for 9 months of Fischer & Krecke. The distribution by business area represents for Folding Carton 38.5% of the total turnover (2007: 44.1%), for Corrugated Board 36.5% (2007: 36.5%), and for Flexible Materials 24.5% (2007: 18.9%).
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Sales
2007 |
2008 Evolution |
Sales
2008 |
| Volume evolution |
Change
in scope |
Exchange
rate variance |
millions
of CHF |
millions
of CHF |
millions
of CHF |
millions
of CHF |
millions
of CHF |
Folding
Carton |
769 |
-115 |
0 |
-25 |
629 |
Corrugated
Board |
637 |
-18 |
0 |
-23 |
596 |
Flexible
Materials |
329 |
11 |
93 |
-33 |
400 |
| Others |
9 |
-1 |
0 |
0 |
8 |
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1'744 |
-123 |
93 |
-81 |
1'633 | |
Spare parts and Services remain relatively stable compared to the previous year. Machines represent 75.5% of the total turnover (2007: 77.3%), whereas Spare parts & Services represent 24.5% (2007: 22.7%).
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Sales
2007 |
2008 Evolution |
Sales
2008 |
| Volume evolution |
Change
in scope |
Exchange
rate variance |
millions
of CHF |
millions
of CHF |
millions
of CHF |
millions
of CHF |
millions
of CHF |
| Machines |
1'348 |
-136 |
79 |
-58 |
1'233 |
Spare parts &
Services |
396 |
13 |
14 |
-23 |
400 |
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1'744 |
-123 |
93 |
-81 |
1'633 | |
The consolidated net result will be published on 31 March and will, as announced, be significantly below the record year 2007. The volume decrease, together with the less favorable product mix and the onetime costs such as Drupa and the integration/restructuring costs after the Fischer & Krecke acquisition, negatively influenced the 2008 results.
2009 started with low backlogs for the Business Areas Folding Carton and Corrugated Board. The Business Area Flexible Materials began 2009 with a backlog similar to the one at the beginning of 2008.
The present economic situation requires very flexible and rapid reactions to the demand evolution while trying to maintain, as much as reasonably possible, the Group’s key competences and values. Based on the level of the capacity utilization of each plant, measures have been and are being implemented. Further actions are already prepared to be launched according to the evolution during 2009.
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Bobst Group SA, Lausanne/Prilly, 12 February 2009
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Teleconference
A teleconference for financial analysts and the media will take place today, 12 February 2009, at 15.30 CET. The taped recording will be available shortly after the teleconference until close of business on Friday 13 February 2009:
- 0800 633 8453 (UK)
- +44 208 196 1998 (Europe)
- 18665 831 035 (toll free USA)
followed by the access code: 1200665#
From 13 February onwards, the recording will be available on our website www.bobstgroup.com/investors.
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Inquiries
Media Relations: Phone +41 21 621 2622
Investor Relations: Phone +41 21 621 2560 or e-mail to investors@bobstgroup.com
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 Forthcoming Releases in 2009 |
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