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Zurich Market Talk - 17-08-2010 |
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17.08.10 09:23 |
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Schindler Group: Pleasing first half of 2010. Net profit improved by 5.9% to CHF 339 million in the first half of 2010. Cash flow rose substantially (+15.7%) to CHF 421 million. In the elevators and escalators business, Schindler recorded a 9.1% increase in orders received (+9.4% in local currencies) compared to the first half of 2009. Compared to the second quarter of 2009, orders received rose by 10.4% (+10.7% in local currencies). Link: Click Here
Schulthess Group sales during the first half of 2010 were down by CHF 22.4 million from CHF 162.0 million to CHF 139.6 million (-13.8%). In terms of operating profit (EBIT), the overall result of CHF 9.7 million was CHF 6.0 million lower (-38.2%) than the CHF 15.7 million reported last year. Link: Hier Klicken
Tornos: Mid-year recovery. Light at the end of the tunnel. Two and a half years after the onset of the recession, we are beginning to see light at the end of the tunnel. The low point of the economic cycle was reached in mid-2009 and, since the first quarter of 2010, there has been a welcome change in the trend of orders received. This recovery has become even more marked during the 2nd quarter. Link: Click Here
PSP Swiss Property - Solid half-year results 2010, EBITDA forecast of CHF 215 million for the 2010 business year confirmed. During the reporting period January to June 2010, the results increased compared to last year’s first six month: net income excluding changes in fair value increased by 9.4% to CHF 74.9 million (first half of 2009: CHF 68.4 million). At the end of June 2010, net asset value (NAV) per share was CHF 64.72 (end of 2009: CHF 64.95), despite the nominal value repayment of CHF 2.70 per share at the end of June 2010. NAV before deferred taxes amounted to CHF 75.95 (end of 2009: CHF 75.79). Link: Click Here
Swisslog's order intake and net sales according to expectations - One-time effect burdens net profit. In a still demanding business environment, Swisslog recorded figures for order intake and net sales in the first half of 2010 that are only slightly below last year’s. A one-time effect originating from the Healthcare Solutions division produced a significant impact on both operating profit (EBIT) and the half-year net profit. The Group’s financial situation remains solid as usual. Link: Click Here
The Forbo Group doubled its Group profit from operations in the first half of 2010 to CHF 58.7 million. In addition, it generated an extraordinary financial income of CHF 32.2 million after tax from the sale of Rieter shares. Net sales came to CHF 918.8 million, which is equivalent to solid growth in local currencies of 6.2% compared with the previous year period. Link: Click Here
Galenica - Successful first half: earnings growth invested in future projects. Despite a difficult environment, the Galenica group was successful in H1 2010. Net sales of Galenica increased by 12.5% to CHF 1,526.8 million. These sales include OM Pharma and Sun Store for the first time. This year, the Galenica Group is investing its complete earnings growth in projects to secure the future as planned, and as a result EBITDA amounted to CHF 217.5 million (+2.9%) and EBIT was CHF 164.1 million (+11.3%). Link: Click Here
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