| Metall Zug Group reports strong growth |
| 21.03.11 16:55 | |
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Zug, March 21, 2011 – The METALL ZUG GROUP increased both sales and results in the 2010 business year. Sales increased by 7.8% year-on-year to CHF 852.3 million, while operating income (EBIT) rose by 70.5% to CHF 105.4 million and net income advanced by 28.6% to CHF 92.3 million. In the 2010 business year, the METALL ZUG GROUP grew sales by CHF 62.1 million or 7.8% to CHF 852.3 million (previous year: CHF 790.2 million). Adjusted for acquisition and currency effects, the increase even amounts to 9.0%. Operating income (EBIT) came in at a new record level of CHF 105.4 million, 70.5% above the 2009 figure of CHF 61.8 million. At CHF 1.3 million, the financial result was appreciably lower than in 2009 (CHF 22.7 million) due to an unfavorable stock market performance, exchange rate losses and the costs of financing the expansion of the real estate business unit. Nevertheless, net income advanced by 28.6% to CHF 92.3 million (previous year: CHF 71.7 million) on the back of the good operating result. Dividend increase proposed Thanks to the positive business performance over the past year and confidence that this trend is ongoing, the board of directors is proposing to the general meeting of shareholders that the dividend be increased by 22% to CHF 24.8 million, i.e. CHF 5.50 per type A registered share and CHF 55.00 per type B registered share. Expansion of the board of directors Ms Marga Gyger is being proposed to the general meeting of shareholders for election as an additional member of the board of directors. Marga Gyger was CEO of the Franke Group’s Coffee Systems division until 2009, since when she has been leading various projects for the Franke Artemis Group as a corporate consultant. Dr. Mirjam Staub-Bisang, Chair of the Board of Directors, Founder and Managing Partner of Independent Capital Management AG, Zurich, was elected to the board of directors of V-ZUG AG. Dr. Werner Sack was appointed to the senior management of V-ZUG AG as Director of the Development Department. Dr. Sack studied physics and obtained his PhD in technical mathematics. He was latterly Head of Product Engineering and Development at Miele Laundry Care. Full details will be provided at the Annual Media Conference to be held in Zug on April 14, 2011. The METALL ZUG GROUP employs a staff of about 3 000. The holding company METALL ZUG AG is listed in the Domestic Standard of SIX Swiss Exchange in Zurich (registered shares of type B: securities number 3982108, ticker symbol METN). In addition to the Swiss market leader V- ZUG AG, the household appliances business unit comprises SIBIRGroup AG and Gehrig Group AG. The Belimed Group (infection control), the Schleuniger Group (wire processing), MZ-Immobilien AG, Hotelbusiness Zug AG and ZEW Immobilien AG (real estate) are other members of the METALL ZUG GROUP. |
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