Burkhalter : 2019 half-year results slightly down on the previous year

Media release

2019 half-year results slightly down on the previous year

The Burkhalter Group closed the first half of 2019 slightly down on the previous year's results. This is due to the pressure on prices in the building industry, which has been apparent for years and has not eased despite a construction boom and total capacity utilisation. Since experience has shown that earnings are stronger in the second half of the year than the first, the Burkhalter Group's management believes that earnings per share similar to those in 2018 (CHF 3.92) can be generated by the end of the 2019 financial year.

Zurich, 2 September 2019

On 30 June 2019, the Burkhalter Group closed the first half of 2019 as follows: the operating result (EBIT) came to CHF 11.4 million (previous year CHF 12.3 million, - 7.5%), while Group profit stands at CHF 8.8 million (previous year CHF 9.6 million, - 8.5%). Sales amounted to CHF 241.0 million (previous year CHF 239.3 million, + 0.7%).

The slightly lower profit can be explained, as in previous years, by the pressure on prices in the building industry. In the market, which is characterised by excess demand and a construction boom, the fear of over- capacity and insufficient utilisation of capacity still prevails despite a lack of skilled workers.

More companies purchased

The Burkhalter Group has strengthened its presence in the Canton of Berne. On 7 January 2019, AS Stuber GmbH in Utzenstorf (BE) was acquired and, on 4 June 2019, Wisler Elektro AG in Zäziwil. Harwid Haushaltsgeräte-Service AG in Langnau i. E., which is owned by Wisler Elektro AG, was included in Wisler Elektro AG. The location is being retained. As of 30 June 2019, the Burkhalter Group therefore comprises 47 companies in 98 locations.

Outlook unchanged

Despite the persistently difficult market conditions, the Burkhalter Group's management still believes that earnings per share in the 2019 financial year will be similar to those in the 2018 financial year.

Key figures
In CHF million	30.06.2018		30.06.2019			in %
Operating result (EBIT)	12.3		11.4			- 7.5
Group profit	9.6		8.8			- 8.5
Group sales	239.3		241.0			+ 0.7
CHF
Earnings per share	1.60		1.46			- 8.8

The 2019 interim report can be downloaded from the Burkhalter website at https://www.burkhalter.ch/en/about-us/investor-relations/publications

Telephone conference: Monday, 2. September 2019, from 09h15

The Burkhalter Group will discuss its 2019 consolidated interim financial statements during a telephone conference today.

Please call in five minutes before the start of the conference (at 09h15) on [phone] (Europe)

[phone] (UK)

[phone] (USA)

The moderator for the telephone conference will connect you with the Chairman of the Board of Directors, Mr Gaudenz F. Domenig, the CEO and the delegate of the Board of Directors, Mr Marco Syfrig and the CFO, Mr. Zeno Böhm.

More information:

Burkhalter Holding Ltd

Elisabeth Dorigatti, Head of Communication and Investor Relations [phone]

[e-mail]

www.burkhalter.ch

The Burkhalter Group is the leading provider of electrical engineering services to the construction sector and, with over 40 Group companies, is represented at almost 100 locations in Switzerland. As at 31 December 2018, it achieved an operating result (EBIT) of CHF 30.7 million, a Group profit of CHF 23.5 million and sales of CHF 501.6 million and employed 2,973 employees (FTE, of whom 640 apprentices). The Group is headquartered in Zurich. Burkhalter Holding Ltd is listed on the SIX Swiss Exchange (ticker symbol BRKN, security number 21225580, ISIN CH0212255803).

Electrical engineering begins at the power utility company and includes all the processes that culminate in the management of electrical machines and installations for the end user. As a leading provider in Switzerland, we concentrate on electrical engineering services to the construction sector and provide a full range of high-quality, precision services: installations, switchboards, servicing and maintenance, telematics, automation and security. In short: we offer 360° Swiss electrotechnics.

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