Turnover maintained despite sale of division

31.01.2012 09:50

Turnover figures for the 2011 financial year

Hochdorf, 31 January 2012 - The HOCHDORF Group last year processed 455.4 million kg of milk and whey to make various powdered products. This was a significant improvement (+10.9%) on the record value of 410.5 million kg obtained in 2010. The consolidated gross turnover stands at CHF 346.6 million (previous year 351.4 million; -1.4%). This means that HOCHDORF has been able to maintain its turnover despite selling its bakery product division.

Processed liquid quantities of 455.4 million kg (milk and whey) represent a new record for the HOCHDORF Group. The relatively high Swiss milk quantity of 350.7 million kg (previous year 325.9 million kg; +7.6%) made an important contribution here.

Turnover just under previous year’s value
The past business year saw the HOCHDORF Group achieve a consolidated gross turnover of CHF 346.6 million (not audited; previous year 351.4 million). The slight dip in turnover of -1.4% is mainly due to the sale of HOCHDORF Nutribake Ltd. (2010 turnover: CHF 32.1 million). The areas of milk derivatives and infant formula generated significantly higher turnover than in the previous year and are responsible for the group’s growth in large part. The most significant increase was shown in exports to Asia. The HOCHDORF Group is planning further substantial growth in this market. The export ratio increased to 33% in total.

The non-consolidated sales volume of 91,766 tonnes is also slightly less than the previous year’s value (94,657 tonnes; -3.1%). We were delighted to be able to deliver more full milk powder to the chocolate industry than ever before, at 12,240 tonnes (+7.9% on the previous year). We were also able to register a significant increase in sales in the area of infant formula. The HOCHDORF Group sold 12% more infant formula than in the previous year.

Review and outlook
It was mainly currency problems that made 2011 a very challenging business year. The rapid drop in the value of the euro made it very difficult to market HOCHDORF export products profitably. The Swiss National Bank has currently set a minimum exchange rate of CHF 1.20 to the euro, which has calmed the markets somewhat, but is still not enough to secure profitable exports. This means that the Group will have to continue to optimise its processes in the current business year.

The HOCHDORF Group is expecting company profits in the region of CHF 13 million. The high net profit can be explained by the sale of HOCHDORF Nutribake Ltd. The dividend payment will be similar to in previous years – subject to approval by the AGM.

Due to the uncertain economic situation, the HOCHDORF Group will not be releasing a more precise forecast for 2012 at this time.

Detailed information and figures for the 2011 business year will be published at the annual results press conference.

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

The HOCHDORF Group, based in Hochdorf, achieved a consolidated gross sales revenue of CHF 346.6 million in 2011. It is one of the leading foodstuff companies in Switzerland, employing 361 staff as of 31.12.11 (338 full-time staff). Made from natural ingredients such as milk and wheat germ, HOCHDORF products have been contributing to our health and wellbeing since 1895 – from babies to senior citizens. Its customers include the food industry and retail sector and its products are sold in 80 countries. The shares are traded on the SIX Swiss Exchange (ISIN CH0024666528).