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Stadtname / PLZ
Mo, 08.08.2022 07:00
Ad hoc announcement according to article 53 KR
HOCHDORF Holding Ltd: Pleasing net sales revenue – material and energy costs negatively influence half-year result
Hochdorf (pta007/08.08.2022/07:00) - The HOCHDORF Group's net sales rose by a pleasing 3.8 per cent compared to the first half of 2021 to CHF 145.7 million. However, the result at EBIT level was burdened by the above-average increase in costs for energy, raw materials and logistics and fell to CHF –15.9 million. Despite this, the gross margin developed positively – particularly as a result of price transmissions and contract adjustments. For the second half of 2022, the HOCHDORF Group expects a continued positive operating performance and a further improvement in the gross margin.
Net sales of CHF 145.7 million increased by 3.8 per cent compared to the first half of 2021 (CHF 140.3 million). The Food Solutions and Food Specialities divisions contributed CHF 118.3 million (+5.2%), while the Baby Care division, which covers infant nutrition, contributed CHF 27.4 million (–1.6%). The increase in sales of approximately 27% for milk powder more than compensated for the decline in lower-margin milk and cream products (–18%). This pleasing development is due to the strong increase in demand from the chocolate industry combined with the change in strategy to focus on Smart Nutrition. HOCHDORF is transforming itself from a volume-oriented milk processor to a technology and needs-based milk refiner.
Negative impact of economic situation – gross margin improved despite challenges
Substantial changes in structure and organisation
Successful registration in China – expected market entry in the US
Outlook 2022: further improvement in gross margin – EBITDA target set
For the second half of 2022, the HOCHDORF Group expects a substantially improved result compared to the first half of the year and an EBITDA loss of less than CHF 7.0 million. The company anticipates a significantly stronger gross margin thanks to further portfolio adjustments and operational efficiency improvements, provided that market conditions do not deteriorate further. The efforts undertaken to transform the company will continue with high intensity and will show their full effect in the first half of 2023.
* Online Interim Report 2022: