1.6 percent rise in net revenues after acquisition-related and currency adjustments

In the financial year 2011, Looser Holding generated net revenues of 455.3 million Swiss francs (prior year: 480.7 million Swiss francs) and thus experienced a 1.6 percent growth against the prior year after acquisition-related and currency adjustments.

Expressed in Swiss francs, revenues declined by 5.3 percent. For the full financial year 2011, management, from today’s point of view, anticipates an operating result (EBITDA) above the prior year level and consolidated net income markedly exceeding the previous year’s figure. Looser Holding will publish its 2011 financial statements and annual report on the occasion of the media and analyst conference to be held on 28 March 2012 in Zurich.

Looser Holding headquartered in Arbon (Switzerland) posted a positive development despite volatile financial markets and a difficult currency situation. After acquisition-related and currency adjustments, net revenues increased by 1.6 percent to 455.3 million Swiss francs1). When expressed in Swiss francs, revenues declined by 5.3 percent against the prior year which was mainly due to the continuously negative development of the Euro and U.S. dollar, the early-cyclical Coatings markets and weaker trading activities in the Industrial Services segment. The markedly weaker Euro and U.S. dollar resulted in a reduction of total revenues by about 36.4 million Swiss francs.

The Doors segment achieved an 8.6 percent revenue growth after currency adjustments. The Temperature Control segment also continued to report a positive development, posting an 8.7 percent revenue growth after currency adjustments. Revenues after currency adjustments in the Industrial Services segment declined slightly by 0.7 percent. The Coatings segment reported a drop in revenues after acquisition-related and currency adjustments by 5.4 percent.

Taking into account positive non-recurrent effects, management anticipates EBITDA above the prior year level and consolidated net income markedly exceeding the previous year’s figure with respect to the full financial year 2011.

The 2011 financial statements and annual report will be published at the media and analyst conference on 28 March 2012 in Zurich.