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Business in 2019

Net revenue posted by the Orell Füssli Group in 2019 was some 10% lower than the previous year’s figure. The majority of this decline was attributable to the sale of parts of Atlantic Zeiser’s operations in 2018 as well as lower volumes at Security Printing. The operating result (EBIT) before special items was maintained at the previous year’s level despite the reduction in revenue. Both, EBIT and net income were well above the previous year’s figures.

Orell Füssli reported net revenue of CHF 237.4 million in the 2019 financial year (CHF 264.9 million in 2018). Earnings from operations (EBIT) before special items amounted to CHF 19.7 million in 2019, a minimal reduction compared to the previous year (CHF 20.1 million). Operating earnings (EBIT) were CHF 18.1 million (CHF 12.0 million in 2018). This figure includes special items amounting to CHF -1.5 Mio. (CHF -8.1 million in 2018), which originate mainly from diverse expenditure and income in the Security Printing, Zeiser and Publishing divisions. Net income at Orell Füssli amounted to CHF 10.8 million. In 2018 this figure was depressed by non-recurring, non-cash expenditure in the amount of CHF 54.0 million relating to the sale of parts of Atlantic Zeiser’s business and amounted to CHF -47.2 million.

Shareholders’ equity including minority interests remained stable at CHF 147.8 million (CHF 148.5 million in 2018). The equity ratio was practically unchanged at 66.8%.

Segmental results

in CHF thousand   2019   2018   2017   2016   2015
Division Security Printing
Net revenue from sales to customers   101,175   112,318   129,845   121,183   117,446
Operating earnings before special items   11,275   18,767   20,145   17,432   18,427
Operating earnings (EBIT)   9,209   18,020   20,145   17,432   17,514
Division Zeiser (until 2017 Atlantic Zeiser)
Net revenue from sales to customers   29,186   50,708   55,850   72,198   52,670
Operating earnings before special items   4,804   –1,162   –2,062   3,892   3,369
Operating earnings (EBIT)   6,416   –8,524   –6,723   1,958   369
Division Book Retailing
Net revenue from sales to customers   97,353   92,171   91,673   94,776   98,832
Operating earnings before special items   6,508   4,970   1,971   1,550   1,820
Operating earnings (EBIT)   6,508   4,970   1,587   2,022   1,820