increased order intake and order backlog - slightly negative net result
Buchs/Aarau, 23 August 2005 The logistics company Swisslog closes the first half-year 2005 with a net profit of MCHF - 1.4 compared to MCHF 13.1 in the first half 2004. The half-year result 2004, however, included a one-time financial gain of MCHF 29.1. The first semester 2005 shows an increase in order intake and the associated order backlog, while turnover declined by approximately 13% in comparison to the same period last year. Swisslog expects a break-even result for the current business year.
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The turnover of Swisslog (continuing activities) decreased during the first half-year to MCHF 267.0 as compared to MCHF 305.5 in the same period last year. Sales in the "Warehouse & Distribution Solutions" division dropped from MCHF 212.3 in the first half-year 2004 to MCHF 171.3 in the first semester 2005 due to the reduced order intake in 2004. The "Healthcare Solutions" division was able to slightly increase sales to MCHF 89.7 (2004: CHF 87.9 million). Sales of the "Consulting Services/Wassermann" division fell from MCHF 7.9 in the first semester 2004 to MCHF 7.0 in 2005.
Operating result on previous year's level
Earnings before interest, taxes, depreciation and goodwill-amortization (EBITDA) of the contin-uing activities are with MCHF 11.2 on last year's level. The operating result (EBITDA) of the "Warehouse & Distribution Solutions" division fell from MCHF 13.2 in the first semester 2004 to MCHF 7.8 in the same period 2005. The "Healthcare Solutions" division was able to increase its operating result (EBITDA) from MCHF 1.8 in the first half-year 2004 to MCHF 9.1 in 2005. "The last year result of the Healthcare Solutions division was burdened with restructuring and one-off costs," comments Swisslog-CEO Remo Brunschwiler. The third division "Consulting Services/Wassermann", recorded a decrease of MCHF 0.4 in its operating result to MCHF 0.6.
Increase in order intake
Order intake for Swisslog's continuing activities rose in the first half of 2005 to MCHF 281.3 as compared to MCH 231.7 during the same period last year. The associated order backlog amounted to MCHF 443.2 (2004: MCHF 378.1). Order intake for the "Warehouse & Distribution Solutions" division increased from MCHF 143.4 in the first semester 2004 to MCHF 169.2 in the first half-year 2005. The associated order backlog improved from MCHF 246.9 in 2004 to MCHF 303.5. "The demand for logistics solutions as offered by Swisslog is still on a low level in Continental Europe. The situation is different in North America, Australia and England, where we experience an increasing demand for our solutions", says Brunschwiler. The "Healthcare Solutions" division was able to increase its order intake from MCHF 82.4 in the first semester 2004 to MCHF 105.3 in 2005. The order backlog rose from MCHF 126.2 to MCHF 138.1. "The higher order intake can be mainly attributed to our pneumatic tube and automated guided vehicle transport systems business. Also the sales for the PillPick drug commissioning system are now within our expectations, after a difficult market introduction in 2004," reports Brunschwiler. Order intake for the "Consulting Services/Wassermann" division dropped to MCHF 7.4 (2004: MCHF 8.2). Order backlog fell from MCHF 6.3 in 2004 to MCHF 2.0 this year.
Positive currency effects
Due to positive currency translation effects, Swisslog's equity ratio rose from 16% to 19% respectively from MCHF 68.4 to MCHF 73.9 as compared to 2004 year-end result.
Additional orders from major customers
Wal-Mart, the worldwide biggest retail chain has awarded to Swisslog in June 2005 a new distribution center in the USA. The order has been booked in June. Furthermore, Swisslog received an order from PepsiCo in August 2005 to build a new warehouse in England
Outlook
"We expect the turnover for 2005 to reach last year's level. For the order intake and order backlog we expect a growing figure. Overall, we anticipate a break-even result for the fiscal year 2005", says Brunschwiler.
Calendar
March 7, 2006: Swisslog Full Figures 2005
May 17, 2006: Annual General Meeting Swisslog 2006
Contact:
Swisslog Management AG
Nicole Schöwel
Head Corporate Communications
Tel: +41 (0) 628 37 95 36
Fax: +41 (0) 628 37 95 55
E-Mail: nicole.schowel@swisslog.com
Homepage: www.swisslog.com
Swisslog Management AG
Kristian Schleede
Chief Financial Officer
Tel: +41 (0)628 37 95 25
Fax:+41 (0)628 37 95 57
E-Mail: kristian.schleede@swisslog.com
Homepage: www.swisslog.com
About Swisslog
Swisslog is a global provider of integrated logistic solutions for warehouses, distribution centres and hospitals.
The comprehensive portfolio ranges from building complex warehouses and distribution centres including Swisslog's software, in-house logistics solutions for hospitals as well as software and consulting services in the field of supply chain management. Swisslog's solutions optimize the customer's production, logistics and distribution processes in order to increase their flexibility, responsiveness and quality of service, while minimizing logistics costs.
With years of experience in the development and implementation of integrated logistics solutions, Swisslog provides the expertise that customers in more than 50 countries around the world rely on. Headquartered in Buchs/Aarau, Switzerland, Swisslog currently employs around 1 850 staff in 23 countries worldwide. The group's parent company, Swisslog Holding AG, is listed on SWX Swiss Exchange (security number: 1 232 462, Telekurs: SLOG, Reuters: SLOG.S). For more information, visit: www.swisslog.com.
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