Letter to shareholders

In brief

• Decline of sales revenue by 10.5% to CHF 304.3 million (home market +3.6% to CHF 259.0 million, abroad -49.8% to CHF 45.2 million)

• Increase of EBITDA by 12.5% to CHF 51.3 million

• Operating income (EBIT) at CHF –39.1 million, attributable to impairment totaling CHF 70.8 million

• Net income at CHF –52.3 million, attributable to impairment totaling CHF 67.4 million

• Increase of free cash flow by 77.8% to CHF 32.6 million

• Decrease of net debt from CHF 34.5 million to CHF 4.1 million