• Higher sales, operating earnings and net profit
• Free cash flow increases by CHF 54 million
• Equity cover raised to 44% (+8 percentage points up on 31.12.2012)
• Projected operating profit of some CHF 75 million confirmed for full-year 2013

In order to reflect the changes in the accounting treatment required for pensions under IAS 19, Valora has restated its 2012 accounts. This has retroactively reduced the Group’s first-half 2012 net profit by CHF -4.4 million. All the figures for first-half 2012 presented here are based on these restated accounts.

The Valora Group performed well during the first six months of 2013, generating external sales of CHF 1 691.3 million, +7.8% higher than in the same period of 2012 and +6.5% higher in local-currency terms. Valora’s reported net revenues for first-half 2013 were CHF 1 412.1 million, +1.8% up on the first six months of 2012 (+0.6% in local-currency terms). While the print-media turnover generated by the Group’s Services division continued to diminish (by – 4.4%), the rate of decline was lower than anticipated and less than in first-half 2012, when print-media sales shrank by – 10.7%. This revenue shortfall was almost entirely compensated for by the positive performance of Valora’s recently acquired Ditsch/Brezelkönig unit, which generated net revenues of CHF 93.3 million during the first six months of 2013.

Valora expanded its gross-profit margin to 35.7%, a +3.9 percentage-point increase on its first-half 2012 result. This improvement is principally attributable to the margins earned by the Group’s Convenience Concept and Ditsch/Brezelkönig acquisitions and to Valora Services’ discontinuation of its goods wholesaling activities and its expansion of its logistics services activities.

Further information in the attached PDF documents.

CONTACT

CONTACT