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Letter to shareholders

February 28, 2012
  • Turnaround achieved. Reassuring annual result.
  • Fast and systematic strategy implementation.
  • Resumption of dividend payments. 

In brief

  • Increase of sales revenue in Switzerland by 8.3% to CHF 280.6 million, increase of groupwide sales revenue by 2.5% to CHF 311.8 million (organic growth in local currencies +3.7%, currency translation effect –1.2%)
  • Improvement of EBITDA by 42.3% to CHF 73.0 million
  • Increase of EBITDA margin to 23.4% (PY 16.9%)
  • Net income at CHF 41.8 million (PY CHF –52.3 million)
  • Free cash flow at CHF 67.4 million (PY CHF 32.6 million)
  • Net cash position at CHF 62.5 million (PY net debt CHF 4.1 million)