Von Roll Holding AG

Au / Wädenswil, 2009-5-3

• Defended and expanded market shares compared to the competition
• Transformer business developing better than expected
• Sales decreased by 9 % to CHF 156 million
• Order intake declined by 36 % to CHF 121 million

Au / Wädenswil, Switzerland, May 4, 2009 – Despite the difficult economic environment, Von Roll, one of Switzerland’s longest established industrial companies, has maintained its position as the global market leader in insulation products, systems and services in the first quarter of 2009.

Due to economic influences, as well as the fall in copper prices, group sales declined by 9 % to CHF 156 million compared to the same period last year. Currency-adjusted sales fell by 7 % to CHF 161 million. Order intake declined by 36 % to CHF 121 million due to stock depletion and the postponing of orders until the second half of the year. However no orders were cancelled during this process. The overall development during the first quarter was especially affected by weak March sales. The equity ratio rose to 71 % at the end of the first quarter.

Despite declining demand, Von Roll was able to defend and even expand its market shares in the traditional segments of Von Roll Insulation and Von Roll Composites. In the Von Roll Insulation segment, however, sales fell by 17 % to CHF 107 million, while order intake declined by 46 % to CHF 78 million. In addition to the economic influences, which turned out to be lower in the energy sector than in other sectors, a further factor was the fall in copper prices compared to the same period last year.

The sales of the Von Roll Composites segment fell by 40 % to CHF 26 million. Order intake was reduced by 53 % to CHF 21 million. The main reason for this was the decline in the automotive sector.

Consolidated for the first time in Q4 2008, the Von Roll Elco Transformers segment progressed better than expected due to measures introduced to improve productivity. Sales rose by 53 % to CHF 23 million. New orders amounted to CHF 22 million.

“Compared to other sectors, performance in the energy sector has been more stable in this difficult market environment. Intensive discussions with our customers show that we are optimally positioned with our products,” says Thomas Limberger, CEO and President of the Board of Directors of Von Roll Holding AG. “However, the economic slowdown has had an effect on our markets, which is evident in the uncertainty of our customers and their cautious investment behavior. Thanks to the measures for operational improvement, which we introduced at an early stage, we are well prepared for the upcoming quarters. Therefore, Von Roll is confidently and energetically forging ahead through a difficult 2009.”
 

About Von Roll Holding AG:
As one of Switzerland’s longest established industrial companies, Von Roll Holding AG focuses on products and systems for power generation, transmission and distribution. Von Roll is the global market leader in insulation products, systems and services and is represented in 19 countries with around 3,400 employees at 32 sites.

Contact:
Sven Ohligs, Head of Corporate Communications,
T: +41 44 204 3034, F: +41 44 204 3039, E: press@vonroll.com

This press release is based on information currently available. Unforeseeable risks and influences may lead to discrepancies with statements portrayed here. Rounding differences may furthermore result in discrepancies in the reported figures. The release and the consolidated financial statements are originally prepared in German and then translated into English. In the event of any discrepancy, the German version prevails.

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