ARBONIA

AFG is on course for growth after a difficult 2013

The last portfolio adjustments once again resulted in high impairments in 2013, but laid the foundations for increases in revenue and income – Profitable results are expected in 2014 for the first time since 2010 – Proposal to resume dividend payments

Arbon, 4 March 2014 – AFG Arbonia-Forster-Holding AG is entering a new phase following the sale of operations that no longer form part of its core business (Kitchens, Refrigeration Technology and Precision Steel Tubes) as well as the spin-off of the Surface Technology Division (STI) on the balance sheet date of 31 December 2013. The consolidated total revenue in the last financial year decreased again slightly, by 0.3%, to CHF 1 286 billion. Impairments totalling CHF 73.2 million as a result of the portfolio adjustment dragged the consolidated financial statements down into minus figures again, with a result of CHF -49.9 million, which, although negative, does not affect cash. In the continuing operations (core business), however, the Group achieved a profit of CHF 33.4 million. This core business also yielded an increased EBIT margin of 6.1% of the net revenue (previous year: 4.7%). At the upcoming general meeting, the Board of Directors will therefore request a withholding tax free distribution of CHF 0.30 per share - the first dividend payment since 2011. The assessment of the Board regarding the further development of the company is positive. For the first time since 2010, the 2014 business year is expected to result in a profit.

Contact
Rudolf Graf
Chief Executive Officer a.i.
T +41 71 447 45 45
rudolf.graf(at)afg.ch 

Stefan Kern
Head Corporate Communications
T +41 71 447 45 64
stefan.kern(at)afg.ch 

 

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