EQS Group-Ad-hoc: Orell Füssli AG / Key word(s): Half Year Results
Orell Füssli Ltd Half-Year 2021
- Stable profitability despite expected decrease in revenues
- Security Printing: development in line with expectations
- Zeiser: Earnings above previous year and expansion of product portfolio through acquisition
- Book Retailing: Good half-year thanks to strong online business and cost management
- Publishing: Successful launch of "Globi and Roger"
- Development of digital identities offering progresses
Zurich, August 6, 2021 - Orell Füssli reported new orders in line with expectations in the first half of 2021. Net sales in the first six months amounted to CHF 97.3 million (previous year: 104.1 million), a decrease of 6.5% compared with the same period of the previous year. Lower business volume in the Security Printing Division was the main reason for the reduction. The operating result (EBIT) amounted to CHF 6.4 million in the first half of 2021 (previous year: CHF 6.7 million). Thanks to the Orell Füssli Group's solid financial position, the conditions are ensured for the group to develop according to plan. This continued without interruption in the first six months of the year.
In the first half of 2021, the performance of the Security Printing Division remained below the same period last year, as expected, but the market environment is still healthy. Net revenue decreased by 19.6% to CHF 39.2 million (previous year CHF 48.7 million) due to a change in the product mix with a high proportion of less complex banknotes. This resulted in an operating profit (EBIT) of CHF 4.2 million (previous year CHF 5.9 million). The ID business developed positively, winning a new project order from Africa for identity documents. Thanks to the modern printing machine commissioned in the first half of the year, Orell Füssli is in a position to continue consolidating its role as a leading and innovative high-quality supplier in the security printing sector in the future.
The Zeiser Division recorded net sales of CHF 13.2 million in the first six months of 2021 (previous year CHF 12.4 million). The operating result (EBIT) increased strongly to CHF 3.3 million (previous year CHF 2.8 million). In the reporting period, Zeiser acquired several new orders and further expanded its portfolio in the area of security document traceability with the acquisition of innovative track & trace technologies from Inspectron on 1 July 2021. With the acquisition, Zeiser is also developing its offering specifically along the value chain and strengthening its leading position as a provider of serialisation solutions and services for the security printing industry. The completion of the new building in Emmingen (Germany) is progressing well, so that occupancy can begin as planned in the fourth quarter. Thanks to healthy market demand, the Zeiser Division anticipates a good capacity utilisation rate for 2021.
Net sales in the Book Retailing Division rose by 8.5% in the first half of 2021 to CHF 41.4 million (previous year CHF 38.2 million). The operating result (EBIT) amounted to CHF 0.6 million (previous year's period CHF -0.6 million). As in 2020, the division was able to successfully overcome the effects of the coronavirus crisis and had a very good first half-year despite the closure of all branches between 18 January and 28 February 2021. This is thanks to the broad-based omnichannel strategy, the market-leading position in the online business and stringent cost management. The expansion based on shops in high-frequency locations will continue and the opening of various new retail outlets is planned for 2021 and 2022.
Orell Füssli Publishing achieved earnings of CHF 3.4 million in the first half of 2021 (CHF 4.7 million in the previous year), in line with expectations. Net revenues are not comparable with the same period of the previous year, as Atlantis children's book publishing was sold in December 2020 and no new works will be published in the non-fiction segment and the OF children's book series from 2021. A great success in the first six months was the new Globi book "Globi and Roger" with Roger Federer, which met the high expectations and is already on the bestseller list in Switzerland. The concentration on learning and educational media as well as the well-known children's book brands, Globi and Carigiet, has paved the way for the further development of the publishing house. The focus is on linking the current publishing offering with innovative digital solutions.
The development of digital solutions in the field of e-government, identities and identification systems was stepped up further in the first half of 2021. With the Procivis technology, Orell Füssli can rely on a proven, technologically and politically accepted solution for the digitisation of services in the public sector. However, the legislative processes and technical implementation in the field of e-ID need time before realisation, which is why Orell Füssli is examining the use of the technology by private sector companies in addition to government partners.
Outlook for 2021
Key figures Orell Füssli in CHF million
ORELL FÜSSLI GROUP FIGURES
Half Year Report 2021
File: Orell Füssli Half-Year Results 2021
End of ad hoc announcement
|Company:||Orell Füssli AG|
|Fax:||044 466 77 11|
|Listed:||SIX Swiss Exchange|
|EQS News ID:||1224519|
|End of Announcement||EQS Group News Service|
1224519 06-Aug-2021 CET/CEST