Orell Füssli AG / Key word(s): Half-year results
Orell Füssli AG Half-year 2022: positive business development in the first half
05-august-2022 / 07:00 CET/CEST
Publication of an ad hoc announcement pursuant to Art. 53LR
The issuer is solely responsible for the content of this announcement.
Ad hoc announcement pursuant to Art. 53LR
Orell Füssli AG Half-year 2022
Positive business development in the first half
- Turnover at the level of the previous year – further improved profitability
- Security Printing wins various customer projects
- Book distribution continues to grow
- The publishing house strengthens its position in the Swiss training market by taking over hep Verlag from July 1, 2022
Zürich, August 5, 2022 – Orell Füssli achieved sales of CHF 97.6 million in the first half of 2022 (previous year CHF 97.3 million), slightly above the previous year and in line with expectations. This was achieved in a tight market environment characterized by rising commodity prices, shortages of key products and fears of recession. Operating profit (EBIT) increased by 16% to CHF 7.4 million in the first six months of 2022 (previous year CHF 6.4 million). The implementation of the strategy, which addresses important development trends in the growing security and education markets, progressed further in the first half through the implementation of various measures.
In the first half of 2022, the Security Printing division was able to acquire various new customer projects in the areas of banknote printing and identification, and reports a high order backlog and good utilization of capacities for the current year. Sales for the reporting period amounted to CHF 38.0 million (previous year: CHF 39.2 million). Thanks to an attractive product mix, the operating result (EBIT) exceeded the average at CHF 7.8 million in the first half (previous year: CHF 4.2 million). Orell Füssli received an award for his innovative “Utopian Dual®” banknote at the Banknote & Currency Conference in Washington DC/USA in February 2022. It combines classic security features with barcodes, making it possible to transfer the ticket value to a digital wallet. The development of the “Utopian Dual ®” represents an important step in developing capabilities to offer hybrid banknotes in the future.
During the first six months of 2022, the Zeiser division acquired various new orders in the face of good market demand. In particular, multi-year service contracts have been concluded for Inspectron’s Track & Trace technology, which can be used in the area of security document traceability. Zeiser has a good order book for 2022. However, Corona-related staff shortages and the move to the new facility have caused delays in processing customer projects. As a result, revenues for the period under review fell to CHF 11.0 million (previous year CHF 13.2 million). The shortfall should be largely made up for in the second half. The operating result (EBIT) decreased accordingly to CHF 1.9 million (previous year CHF 3.3 million). The sale of the former production building in Emmingen, Baden-Württemberg, generated a book profit of CHF 1.0 million.
Orell Füssli Thalia AG achieved a good first half of 2022 and increased its proportionally consolidated sales to CHF 45.0 million (previous year: CHF 41.4 million), an increase of 8.7% compared to compared to the same period last year. Both the retail trade and the business customer segment, which serves schools, businesses, public authorities and libraries with specialized literature, increased during the period under review. Proportionately consolidated operating profit (EBIT) improved to CHF 0.9 million (previous year CHF 0.6 million). The first half was dominated by the opening of new stores in high traffic locations. New stores were opened in Lucerne and Wil, with the acquisition of the Barth bookshop, a new site was opened in ShopVille-Zurich Central Station. Orell Füssli Thalia has also launched Skoobe, a new online streaming service for books, which provides access to an online library with over 400,000 books and several 10,000 audiobooks.
Orell Füssli Publishers generated revenue in line with expectations in the first half of 2022. The focus on learning and education media and well-known children’s book brands Globi and Carigiet continued. With the acquisition of hep Verlag on July 1, 2022, a leading provider of Swiss learning materials, the division doubled its turnover and positioned itself as the leading publisher of learning content in the Swiss market of education. In addition, the legal media section has been strengthened thanks to a partnership with the legal research portal Juste.ch.
Orell Füssli’s subsidiary Procivis, a software company with key technologies for digital identity and certificate solutions, is working on various pilot projects within the framework of the cooperation with Swisscom, the aim of which is the application practice of digital certificates.
Outlook for 2022
Based on the information available and in particular as a result of the consolidation of hep Verlag, Orell Füssli expects a slight increase in revenues and a maintenance of the EBIT margin at the level of the previous year in 2022.
Key figures Orell Füssli Group in millions of CHF
|In millions of francs||Jan-Jun 22||Jan-Jun 21|
|Revenue from customer sales||97.6||97.3|
|Operating performance (EBITDA)||12.6||11.1|
|Operating result (EBIT)||7.4||6.4|
|as a % of turnover (rounded)||7.6%||6.6%|
|Number of employees (FTE) at 30.6.||603||569|
Half-year report 2022
The 2022 Half-Year Report is available on the Internet:
https://www.orellfuessli.com/fileadmin/user_upload/Halbjahresbericht_EN_2022.pdf or can be requested in printed form by e-mail [email protected]
Investor Day November 24, 2022
Publication Annual Report 2022 March 10, 2023
2022 Annual General Meeting May 10, 2023
Orell Fussli AG
Such. +41 44 466 72 73
|Orell Fussli is a pioneer in the field of safety and education. As an expert in security solutions for the state and citizens and a leading Swiss player in the book distribution sector, Orell Füssli supports its customers with a unique and personalized offer.
As a leading provider of security technology and identification systems and a long-time partner to governments, Orell Füssli is a technology standard setter. In the fields of security printing and serialization, Orell Füssli offers innovative printing processes and services for the successful production and protection of banknotes, valuable documents and identity documents.
With its attractive large-format and specialist bookstores, Orell Füssli offers a true book-shopping experience. In the book distribution segment, Orell Füssli holds a 50% stake in Orell Füssli Thalia AG, which offers a full range of products and services through 45 branches located in German-speaking Switzerland and various e-commerce services. Orell Füssli provides logistics and other services for libraries and the corporate sector. Orell Füssli’s publishing houses focus on media for learning and education, as well as children’s books that impart knowledge.