Conzzeta : Interim information as of the end of September 2020

October 16. 2020 - 06:45

Expected acceleration in customer activity in Q3

Zurich, October 16, 2020 - The Conzzeta Group posted net revenue of CHF 905.4 million for the first nine months of 2020. At constant exchange rates and taking changes in the scope of consolidation into account, revenue was down 11.8% on the previous year. The decline for six months had been 16.2%.

CHF m			Change in %
	9M 2020	9M 2019	reported	organic1)
Group net revenue	905.4	1,136.5	-20.3%	-11.8%
Sheet Metal Processing
Order intake	535.8	693.5	-22.7%	-18.2%
Net revenue	566.8	662.3	-14.4%	-9.5%
Net revenue of discontinued operations
Chemical Specialties	189.42	265.42	-28.6%	-14.8%
Outdoor	149.4	186.7	-20.0%	-17.5%
Glass Processing	-	22.4	-	-

¹ At constant exchange rates and adjusted for changes in the scope of consolidation.

² Incl. Schmid Rhyner (CHF 6.9 million 2020 and CHF 38.1 million 2019).

The acceleration in customer activity compared to the pandemic-hit first half of the year confirmed the expectation communicated with the publication of the half-year results in August. In the third quarter, the Group's net revenue was 2.7% below the previous year in organic terms, with Mammut (Outdoor segment) recording slight growth. The acceleration was evident in all regions, but was particularly pronounced in China, where order intake from Bystronic (Sheet Metal Processing segment) and revenue from FoamPartner (Chemical Specialties segment) exceeded the previous year's levels.

The implementation of the Group's announced strategic focus is proceeding according to plan. The date for the Capital Markets Day, where the strategy for the Bystronic core business will be presented, has been set as November 10. For the 2020 financial year, Conzzeta is still expecting an operating result (including the divestment gain on the sale of Schmid Rhyner) in the mid-double-digit CHF million range, with substantially lower net revenue compared to the previous year.