Rise in profits following HOCHDORF Nutribake AG sale

22.06.2011 16:17

Rise in profits expected

Hochdorf, 22 June 2011 – The sale of HOCHDORF Nutribake AG means that the HOCHDORF Group will finish the 2011 business year with significantly better company performance than the previous year. Operational results are currently lower than expected. However, a recovery is forecast for the second half of the year.

On 3 May 2011, the HOCHDORF Group announced the sale of HOCHDORF Nutribake AG to the BAKELS Group. This sale has a significant impact on the company performance for 2011 and will result in a rise in profits. Significantly higher profits than the previous year can be expected at company performance level. The company performance for 2011 is expected in the range of CHF 13 to 17 millions.

On target at operational level

The HOCHDORF Group started well in 2011 at the operational level. However, the months of April and May modified the results of the positive start. The main reason for this was the increased stock in these milk-rich months, higher provisions for damage claims and the lower value of the euro. HOCHDORF Group CEO Damian Henzi is nevertheless convinced that last year’s operational performance can still be equalled if not slightly surpassed.

Contact:

Dr. Christoph Hug, Corporate Communications, HOCHDORF group, Tel: +41 (0)41 914 65 62 / +41 (0)79 859 19 23, christoph.hug(at)hochdorf.com

The HOCHDORF Group, with headquarters in the town of Hochdorf in the canton of Lucerne, is one of Switzerland’s leading companies in the food sector and in 2010 generated consolidated gross sales of CHF 351.5 million (CHF 346.3 million in 2009) with a workforce of 377 (status as at: 31.12.2010) at three sites (Hochdorf/LU; Sulgen/TG; Medeikiai/ Lithuania). HOCHDORF develops, produces and markets functional ingredients as well as dairy and cereal-based speciality products for the food industry and the trade worldwide. HOCHDORF’s products, which are extracted from natural raw materials such as milk, or wheat germs, have been making a contribution towards the health and well-being of infants right up to senior citizens since 1895. The products are sold in approx. 80 countries.