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Business in 2018

The Orell Füssli Group posted a decline in net revenue in 2018. This was attributable to lower net revenue at the Security Printing and Zeiser divisions. Operating earnings (EBIT) were unchanged at the previous year’s level. After adjustments for special items operating earnings (EBIT) were higher than in the previous year.

Orell Füssli reported net revenue of CHF 264.9 million in the 2018 financial year, equivalent to a decline of some 8% compared to the previous year (CHF 288.5 million). This was mainly attributable to lower outcomes at the Security Printing and Zeiser divisions. Operating earnings (EBIT) before special items amounted to CHF 20.1 million in 2018, representing an increase of some 12% compared to the previous year (CHF 17.9 million). Operating earnings (EBIT) were CHF 12.0 million (CHF 12.6 million in 2017). This figure includes special items amounting to CHF -8.1 million, which originate mainly from expenditure in connection with the restructuring of Zeiser. Net income at Orell Füssli was depressed mainly by non-recurring, non-cash expenditure in the amount of CHF 54.0 million relating to the sale of parts of Atlantic Zeiser’s business and amounted to CHF -47.2 million.

Shareholders’ equity including minority interests declined from CHF 156.2 million to CHF 148.5 million. The equity ratio was 66.5% (68.1% in 2017).

SegmentAL RESULTS

in CHF thousand   2018   2017   2016   2015   2014
Division Zeiser (until 2017 Atlantic Zeiser)
Net revenue from sales to customers   50,708   55,850   72,198   52,670   73,929
Operating earnings before special items   –1,162   –2,062   3,892   3,369   2,234
Operating earnings (EBIT)   –8,524   –6,723   1,958   369   2,598
Division Security Printing
Net revenue from sales to customers   112,318   129,845   121,183   117,446   92,689
Operating earnings before special items   18,767   20,145   17,432   18,427   –992
Operating earnings (EBIT)   18,020   20,145   17,432   17,514   –643
Division Book Retailing
Net revenue from sales to customers   92,171   91,673   94,776   98,832   110,366
Operating earnings before special items   4,970   1,971   1,550   1,820   2,384
Operating earnings (EBIT)   4,970   1,587   2,022   1,820   3,080