Annual results 2024 Increase in EBITDA margin despite difficult market in Germany

Arbon, 3 March 2025 – In Arbonia's largest European markets, the construction industry was not yet able to recover noticeably in 2024. Instead, uncertainty persisted and the second half of 2024 in particular was weaker than expected in Germany, an important market for Arbonia: Building permits continued to decline and financing costs remained at a high level for a long time, with consumers only feeling the effects of the ECB's cuts after a delay. In some markets, the general conditions such as interest, energy and material costs have improved somewhat, but this has not yet led to a noticeable recovery in most markets.
Nevertheless, Arbonia is cautiously optimistic about the 2025 financial year.

The closing of the sale of the Climate division took place on 26 February 2025. The following presentation of the annual figures therefore focuses on the continuing operations, i.e. on the former Doors division, thus the new Arbonia.

• Revenue growth of 10.2% to CHF 556.3 million (previous year CHF 504.6 million)
• Currency and acquisition-adjusted revenue growth of -5.4% (previous year -8.2%)
• EBITDA including one-time effects: +107.8% from CHF 31.9 million to CHF 66.3 million
• EBITDA margin including one-time effects: from 6.3% to 11.9%
• The one-time effects¹ amounted to a total of CHF 24.6 million net, primarily from the sale of the Zelgstrasse site (CH)
• EBITDA without one-time effects: +22.1% from CHF 34.1 million to CHF 41.7 million
• EBITDA margin without one-time effects: from 6.8% to 7.5%
• Guidance 2025: revenue growth of 3 - 5% and an adj. EBITDA of approx. CHF 60 million.
• Proposal by the Board of Directors for a distribution of CHF 5.83 per share at the Annual General Meeting in April 2025

Sale of the Climate Division completed

Arbon, 27 February 2025 – The sale of the Climate Division to Midea Electrics Netherlands B.V., a company of the Midea Group, which was announced on 18 April 2024, was completed yesterday, 26 February 2025. This has established the conditions for voting not only on the usual agenda items and motions of the Board of Directors but also on the use of funds from the transaction at the Annual General Meeting on 25 April 2025.

In conjunction with the closing, Alexander Kaiss, CEO of the sold Climate Division, will also be stepping down from Group Management of the Arbonia Group. At the same time, Markus Hütt, COO and simultaneously responsible for the Glass Solutions Business Unit, will be joining Group Management.

With the completion of the transaction, Arbonia’s strategy is focusing on the doors business invested in over the last few years. Thanks to its strong balance sheet with a high equity ratio and reduced debt, the strategic flexibility for the further development of Arbonia is ensured. It is working towards the goal of expanding its position as the European market leader for doors.

Antitrust approval of the EU Commission obtained for the sale of the Climate Division

Arbon, 29 January 2025 – Yesterday, on 28 January 2025, the EU Commission approved the sale of the Climate Division to Midea Electrics Netherlands B.V., a company of the Midea Group, without conditions or requirements. As a result, all required approvals of the responsible national antitrust and investment control authorities (FDI) as well as the European Union have been granted without conditions or requirements. The closing of the sale, announced on 18 April 2024, will take place at the end of February 2025.

Update on the upcoming closing of the sale of the Climate Division

Arbon, 20 December 2024 – The sale of the Climate Division to Midea Electrics Netherlands B.V., a company of the Midea Group, has been approved unconditionally by all relevant national antitrust and investment control (FDI) authorities in recent months. In order for the purchase agreement to be completed (closing), the merger must still be approved by the EU Commission. This approval is expected by the end of January 2025.

Claudius Moor will be the new CEO of Arbonia

Arbon, 20 November 2024 –The Board of Directors of Arbonia AG has decided in its meeting on 19 November 2024 to name Claudius Moor as the new CEO of Arbonia Group. The Executive Chairman Alexander von Witzleben will step down from his executive role on this day, but will remain as Chairman of the Board of Directors for the time being. 

Arbonia appoints Uwe Schiller as new Chief Financial Officer (CFO)

Arbon, 27 September 2024 – The Board of Directors of Arbonia AG appoints Uwe Schiller as its new CFO and member of Group Management.He will take over from Daniel Wüest, who leaves the company in the course of the strategic reorientation towards the door business at his own request on 30 September. Uwe Schiller takes over the position in October 2024.

Arbonia half-year results for 2024 Increase in EBITDA margin despite continuing challenging environment

Arbonia sells the “Zelgstrasse” site in Arbon to the HRS Group for around CHF 34 million

Arbon, Switzerland, 20 June 2024 – Arbonia AG has sold the approx. 35,000 m2 site in Zelgstrasse in Arbon to a company of the HRS Group via its subsidiary AFG Immobilien AG. The completely leased site, which is classified as non-operating real-estate, has thus been sold in line with the strategy.

Arbonia acquires the Spanish market leader for doors, the Dimoldura Group, as well as the Czech market leader in the contractor services sector – Lignis

Arbon, 17 May 2024 – Arbonia is actively consolidating the European competition landscape in the area of interior and special doors by acquiring the Spanish market leader for interior doors in south-western Europe, Dimoldura, as well as the Czech company Lignis for special doors. With the two acquisitions, Arbonia is expanding its geographic footprint into south-western and Eastern Europe in line with its strategy and has taken another step towards its ambition of market leadership in Europe.

Change to Group Management

Arbon, 8 May 2024 – Following Arbonia’s decision to accept the offer to sell the Climate Division and focus on the doors business, Group Management will be reorganised after the closing of the transaction.
In this connection, Daniel Wüest has decided to step down from his position as Group CFO after the sale of the Climate Division in order to take on a new professional challenge outside of Arbonia.

General Meeting of Arbonia AG approves all motions

Arbon, 19 April 2024 – The shareholders of Arbonia AG approved all of the motions proposed by the Board of Directors at today’s General Meeting. 

Arbonia divests the Climate Division for EUR 760 million to Midea

Arbon, Switzerland, 18 April 2024 – After the conclusion of a competitive sales process with several bidders, Arbonia has decided to divest the Climate Division to Midea Electrics Netherlands B.V., a company of Midea Group for an enterprise value of EUR 760 million. Subject to the approval of relevant regulators, up to CHF 400 million of the sales proceeds are to be returned to the shareholders after completion of the transaction. In addition, net sale proceeds will be used to strengthen the doors business and to reduce net debt. The doors business will strategically be further developed both organically and through acquisitions, with the objective of making Arbonia a European market leader for doors made of wood and glass. 

Arbonia considers purchase offers for the Climate Division and publishes annual results for 2023

Arbon, 27 February 2024 – The Board of Directors has received several unsolicited expressions of interest in purchasing the Climate (formerly HVAC) Division, prompted by comparable transactions in the market. After careful consideration and with a view to sustainably increasing the value for shareholders, the Board decided to carry out a structured sales process with several strategic prospective buyers. Upon conclusion of a possible transaction, the Board of Directors intends to return a significant share of the proceeds to the shareholders, in addition to reducing debt. At the same time, the remaining Doors Division is to be strategically developed as well as further strengthened through targeted acquisitions.

Update on current trading and mid-term guidance as part of Arbonia’s Capital Markets Day

Arbon, 6 December 2023 – At the Capital Markets Day 2023 taking place today in Prüm (D), Arbonia shows the new door plant of the future. The company also provides an update on current trading and confirms the mid-term guidance for 2026, despite the current challenging market environment in its core markets, which is expected to continue in 2024. 

Arbonia First semester results 2023 - EBITDA margin at previous year's level despite difficult environment

• Revenue decline of 9.6% (organic 8.1%) to CHF 570.4 million from CHF 630.9 million in the previous year
• EBITDA: CHF 44.9 million from CHF 52.4 million in the previous year
• EBITDA margin: 7.9% (previous year: 8.3%)
• EBIT: CHF 6.2 million from CHF 17.8 million in the previous year
• Group result after taxes: CHF –2.0 million from CHF 11.7 million in the previous year
• Significant positive free cash flow expected for 2023
• Confirmation of mid-term targets for 2026 due to great demand for housing as well as energy upgrading of existing housing to reduce required CO₂ emission

Arbon, 22 August 2023 – Arbonia’s core markets, especially Germany, Benelux, and Eastern Europe, suffered a considerable slump in building permits due to the high construction costs and interest rate hikes. At Arbonia Group, this decrease in construction activity led to sharply lower volumes for the products steel panel radiators, standard doors and shower enclosures. This is against the backdrop of a historically high demand for housing and the necessary energetic conversion of existing building stock to achieve the required reduction in CO₂ emissions.

The first half of 2023 was characterised by great challenges, which not only affected the general economy but the building sector in particular and thus Arbonia. The first half of 2023, for example, was impacted by a pronounced reluctance in the ordering behaviour of wholesalers and the specialist retailers, who continued to reduce inventories or did not fill them up again with large orders but placed smaller shorter-term orders instead. New construction was burdened by the reluctance of builders, who started fewer construction projects or postponed them due to an uncertain regulatory environment and significantly increasing construction and financing costs at the same time. In renovation, increasing rents due to increasing interest rates and higher ancillary rental costs (energy) had a noticeable negative impact. This caused people to remain in their current homes for fear of further increasing rental costs and due to the low number of vacant flats, which led to fewer renovations being done. In addition, housing companies delayed planned renovations. On the other hand, the demand for affordable housing as well as the necessity of upgrading the energy efficiency of existing building stock remains high. This had a positive effect on Arbonia’s growth products but could not fully compensate for the negative volume effects from the general reluctance in the construction sector.

Arbonia’s revenue decreased by 9.6% in the first half of 2023 compared to the same period in the previous year, from CHF 630.9 million to CHF 570.4 million. Adjusted for currency and acquisition effects (organic), revenue decreased by 8.1%. EBITDA came to CHF 44.9 million (previous year: CHF 52.4 million), which means a reduction of 14.4%. The EBITDA margin decreased from 8.3% to 7.9%. Without one-time effects, EBITDA decreased by 13.6%, from CHF 52.4 million to CHF 45.3 million, which corresponds to a decrease in the EBITDA margin from 8.3% to 7.9%. EBIT came to CHF 6.2 million (previous year: CHF 17.8 million), which corresponds to a decline of 65.2%. Without one-time effects, a decrease of 63.0% resulted, from CHF 17.8 million in the previous year to CHF 6.6 million. The group result amounted to CHF –2.0 million compared to CHF 11.7 million in the previous year or without one-time effects to CHF –1.7 million (previous year: CHF 11.7 million). The negative net profit at the half year is the result of the lower operating profit, higher depreciation and amortisation as well as the higher financial result due to higher interest expenses and foreign exchange losses.

Cash flow from operating activities amounted to CHF 12.0 million in the reporting period (CHF –68.6 million in the previous year). This resulted in a free cash flow of CHF –27.8 million (CHF –142.9 million in the previous year). As of 30 June 2023, net debt amounted to CHF 241.4 million.

Shareholders' equity decreased to CHF 967.9 million (previous year CHF 1016.1 million). Consequently, the equity ratio also decreased from 66.1% in the previous year to a still solid 61.6%.

Arbonia further improves competitiveness by consolidating design radiator production

Arbon, 20 July 2023 – The Heating Ventilation and Air Conditioning (HVAC) Division of Arbonia is further improving its competitiveness with the planned relocation of its design radiator manufacturing volume. As part of its strategy of being a best-in-class radiator supplier, the planned relocation of manufacturing and painting from Dilsen (BE) to the competence centre in Stříbro (CZ) will increase capacity utilisation and productivity as well as further centralise know-how. Arbonia expects one-off costs of around CHF 10 million to be incurred in the second half of 2023 due to the closure and relocation of production. In return, Arbonia expects annual savings of around CHF 4 million from the second half of 2024.

Trading update – Slump in building permits due to construction cost increases and interest rate hikes

Arbon, 20 July 2023

• Decline in construction activity in Arbonia’s core markets led to sharply lower volumes for radiators, interior doors, and shower enclosures
• Suspension of guidance due to unpredictability of volumes in the second half of 2023
• The volume decreases in the first half of 2023, in conjunction with negative currency effects (-3.6%), led to an overall decrease in revenue of -10% compared to the same period last year to approximately CHF 570 million (HVAC: CHF 303 million; Doors: CHF 266 million)
• HVAC Division on EBITDA level above previous year with increased margin from 8.0% to 9.4%
• Doors Division on EBITDA level below previous year with decreased margin from 10.7% to 8.0% – in particular a one-time additional burden of energy costs had a negative impact here
• Significant positive free cash flow expected for 2023
• Closure of production plant and staff reductions of up to 600 employees until June 2024 will lead to a one-time charge of up to CHF 15 million in the 2023 financial year and consequently to annual net savings of CHF 10 – 12 million
• Confirmation of mid-term targets for 2026 due to great demand for housing as well as energy upgrading of existing housing to reduce required CO₂ emissions

General Meeting of Arbonia AG approves all motions

Arbon, 21 April 2023 – The shareholders of Arbonia AG approved all of the motions proposed by the Board of Directors at today's General Meeting. Among them was a dividend payment in the amount of CHF 0.30 per share and the confirmation of the re-election of those members of the Board of Directors who had chosen to stand. All amendments to the Articles of Association required by the new company law were also approved. 

Arbonia annual results 2022 and outlook 2023

Arbon, 28 February 2023 – The reporting year of Arbonia was characterised by considerable upheavals in both divisions, which increased significantly in the course of the year: 

The 1st half of 2022 was still characterised by stable sales volumes and benefited from the previous year’s high order volumes, among other things. This was despite the fact that a considerable pressure on the margins was already noticeable at that time due to the inflation trend that had set in for all raw materials and energy. The price increases implemented with customers in the 2nd half of 2022 caused margins to improve significantly. As a result, it was possible to reduce the material ratio from 51.4% to 49.4%. 

However, during the 2nd half of 2022, particularly in the 4th quarter, there was a proper slump in orders from wholesalers for stock items such as radiators and standard doors. Economic uncertainties led to significant destocking and a change in ordering behaviour among customers towards short-term ordering. The energy crisis, which persisted throughout the financial year, also burdened the 2nd half of the reporting year with an additional CHF 5.1 million compared to the previous year.

Furthermore, the geopolitical situation resulting from the war in Ukraine impacted the operating activities of both divisions due to the lost volumes and revenues in the affected markets in Eastern Europe.

Arbonia was able to increase revenues in the financial year 2022 by 1.3% to CHF 1'202.1 million; growth was 5.5% without the influence of currency and acquisition effects (organic). EBITDA without one-time effects¹ fell from CHF 134.3 million to CHF 112.4 million; with one-time effects, EBITDA reached 108.3 million compared to CHF 124.7 million in the previous year. This corresponds to a reduction in the EBITDA margin (without one-time effects) from 11.3% in the previous year to 9.4%; with one-time effects, the EBITDA margin fell from 10.5% to 9.0%. As a result, EBIT without one-time effects also fell from CHF 67.0 million to CHF 41.4 million; with one-time effects, EBIT fell from CHF 53.3 million to CHF 37.0 million. This corresponds to a decrease in the EBIT margin without one-time effects from 5.6% to 3.4%; with one-time effects, the EBIT margin fell from 4.5% to 3.1%. The Group result with one-time effects (from continuing operations) fell as a result from CHF 27.5 million in the previous year to CHF 20.7 million. Without one-time effects, the Group result fell from CHF 41.1 million to CHF 23.9 million. 

¹ Explanations, definitions, and reconciliations for the Alternative Performance Measures are found in the Annual Report 2022 on pages 227 – 231.

Arbonia with challenging second half-year of 2022

Arbon, 12 January 2023 – The financial year 2022 was challenging due to increased material and logistics costs, material shortages, a dramatic rise in energy costs, increased interest rates, and the Swiss franc significantly appreciating. In general, this situation did not ease in the second half-year of 2022 due to factors such as energy costs continuing to rise. 

The situation was made worse by a rapid destocking among all major customers in the fourth quarter of 2022. This significant and unexpected volume reduction, particularly affecting radiators, shower enclosures, and to some extent doors, resulted in the margin being negatively affected as a contrast to the strong performance that is normally seen in the construction industry during the second half-year. However, the growth businesses strategically built up in recent years (for heat pumps, ventilation units, underfloor heating and energy storage) performed in a positive manner, demonstrating high double digit volume growth in. 

Despite achieving organic growth of slightly above 5% resulting in revenues of around CHF 1.2 billion, the EBITDA margin without one-time effects will be around 9.5%.*

Arbonia continues to strengthen HVAC sales position in Spain and Portugal

Arbon, 6 December 2022 – As part of its communicated HVAC growth strategy, Arbonia has signed an agreement to purchase 100 % of the shares in the Portuguese HVAC distribution company Cirelius S.A. For the HVAC Division, this acquisition means a significant strengthening of its activities in the Portuguese and Spanish markets, making it a leading supplier of HVAC system solutions on the Iberian Peninsular. 

Arbonia with a challenging first half-year of 2022

Half-year results 2022 (reported)

• Revenue growth of 7.2% (organic 9.8%) to CHF 630.9 million
• Strong increase in materials ratio from 45.0% to 51.4%
• EBITDA: CHF 52.4 million after CHF 67.6 million in the previous year
• EBIT: CHF 17.8 million after CHF 34.9 million in the previous year
• Group result after tax: CHF 11.7 million after CHF 23.6 million in the previous year
• Increase in net working capital (NWC) of around CHF 118 million (previous year CHF 33 million)
• Arbonia expects a significantly stronger second half-year of 2022 compared to the first half-year of 2022 and also the second half-year of 2021.

Arbon, 23 August 2022 – Arbonia looks back at a challenging first half-year of 2022. The COVID-19 pandemic and the Russian invasion of Ukraine led to considerable increases in raw material prices, sharply rising energy prices, as well as problems with supply chains, which all affected Arbonia as well. In the face of this political crisis and the associated change in thinking, Arbonia's strategy with modern products (heat pump, ventilation, underfloor heating, battery storage, etc.) for energy-efficient and self-sufficient buildings has proven to be all the more correct. In addition to their well-known economic advantages, these products accelerate the transition to buildings that are independent of fossil energy sources and electricity prices. The investments decided on and implemented in the past are also paying off by countering wage inflation and increased material prices with increases in productivity.

In the first half-year of 2022, Arbonia was able to increase its net revenue in Swiss francs by 7.2% compared to the same period in the previous year, from CHF 588.6 million to CHF 630.9 million. Growth when adjusted for currency and acquisition effects was 9.8%. During the same period, EBITDA decreased from CHF 67.6 million to CHF 52.4 million due to the massive increase in the materials ratio from 45.0% to 51.4% (material price increases of around CHF 68 million). Consequently, the EBITDA margin also decreased from 11.5% in the previous year to 8.3%. A negative effect on the absolute EBITDA resulted from the strength of the Swiss franc, among other factors, which appreciated by a high single-digit percentage against almost all currencies relevant to Arbonia, causing results achieved in foreign countries to be lower than budgeted when converted into Swiss francs. EBIT reached CHF 17.8 million (CHF 34.9 million in the previous year). The group result (after taxes) amounted to CHF 11.7 million and is below the previous year's value of CHF 23.6 million. 

In the reporting period, the cash flow from operating activities amounted to CHF –68.6 million (CHF 51.6 million in the previous year). In addition to the low EBITDA contribution, this was above all due to the sharp rise in the NWC, which increased by around CHF 118 million in the first half-year. After the deduction of investments (capex) and including the premature buyback of the Corporate Center, a free cash flow of CHF –142.9 million resulted. As of 30 June 2022, net debt amounted to CHF 68.4 million. No one-time effects occurred in the first half-year of 2022.

The shareholders' equity increased to CHF 1016.1 million (previous year CHF 927.6 million). Consequently, the equity ratio also increased from 55.8% in the previous year to a very solid 66.1%.

Results of the Annual General Meeting of Arbonia AG

Arbon, 22 April 2022 - Today's General Meeting of Arbonia AG was held once more without the physical participation of shareholders. Shareholders were again able to exercise their voting rights through the independent proxy. All motions proposed by the Board of Directors were approved. As announced, Alexander von Witzleben is stepping down as CEO at today's General Meeting. Going forward, he will be taking on the role of Executive Chairman of the Board of Directors of Arbonia. 

Arbonia with very positive annual results again for 2021

• Revenue growth of 11.6% when adjusted for currency and acquisition effects
• EBITDA without one-time effects: +17.4% from CHF 114.5 million to CHF 134.3 million¹
• EBIT without one-time effects: +28.6% from CHF 52.1 million to CHF 67.0 million¹
• Group result from continuing operations without one-time effects: +46.2% from CHF 28.1 million to CHF 41.1 million¹
• Group result: +208.9% from CHF 44.9 million to CHF 138.7 million
• Net cash position von CHF 93.2 million (previous year: net debt of CHF -140.6 million)
• Increase in the equity ratio to 64.3% (previous year: 59.0%), shareholders' equity >1 billion.
• Proposal of a dividend payment of CHF 0.30 (+20%) for the 2021 financial year

Arbon, 1 March 2022 - A revenue growth of 11.6% when adjusted for currency and acquisition effects, or an increase of 14.2% in Swiss francs from CHF 1038.4 million to CHF 1186.2 million, resulted for the financial year 2021. Without one-time effects, Arbonia increased its EBITDA by 17.4% from CHF 114.5 million to CHF 134.3 million and thereby succeeded in increasing their EBITDA margin to 11.3% in a demanding environment. Arbonia increased EBIT without one-time effects by 28.6% from CHF 52.1 million to CHF 67.0 million. Arbonia was able to increase its Group result from continuing operations without one-time effects by 46.2% to CHF 41.1 million (previous year: CHF 28.1 million). 

¹One-time effects
In the 2021 financial year, one-time effects in the amount of CHF 13.4 million accrued, the majority of which is due to the planned relocation and closure of the radiator production plant in Tubbergen, Netherlands. With one-time effects, EBITDA of the Group was CHF 124.7 million (previous: CHF 116.3 million), EBIT was CHF 53.3 million (previous year: CHF 53.9 million), and capital gains were CHF 138.7 million (previous year: CHF 44.9 million). The reported Group result, which includes the continuing and discontinued operations, amounted to CHF 138.7 million (previous year: CHF 44.9 million) especially thanks to the revenue from the sale of the Windows Division.

¹ Explanations, definitions, and reconciliations for the Alternative Performance Measures are found in the annual report 2021 on pages 227 - 232.
Detailed information on the figures with one-time effects can be found in the lead

Arbonia improves competitiveness through further consolidation of flat panel radiator production

Arbon, 26 November 2021 - The Heating, Ventilation and Air Conditioning (HVAC) Division of Arbonia is advancing the consolidation of its flat panel radiator production volume at its highly automated plant locations with the planned closure of the production plant in Tubbergen (NL). By increasing capacity utilisation and productivity at the remaining locations as well as further centralising know-how in the competence centres, the division is further enhancing its competitive position as a best-in-class provider of radiators.

Arbonia presents medium-term planning and target setting on Capital Markets Day

Arbon, 26 October 2021 - At the Capital Markets Day 2021, which takes place today in Platting (D), Arbonia will present indications on the financial target setting for the next five years (until 2026) as well as an update on the strategy of its two divisions HVAC and Doors.
 
In addition to the financial outlook and strategic orientation, the focus of the Capital Markets Day will be on the HVAC Division's Research & Development. This department is responsible for a variety of product innovations such as the new energy storage system, the new generation of heat pumps with higher efficiency, and the electrostatic filter technology. Additionally, the participants will be given an insight into the highly automated production at the Platting site (D)

Sale of the Windows Division closed

Arbon, 1 September 2021 - The closing of the sale of the Windows Division to the Danish DOVISTA Group, announced on 5 January 2021, took place yesterday, 31 August 2021, after all relevant competition authorities gave their approval.

Arbonia with marked increase in revenue and profitability compared to previous year

Half-year results 2021 (continuing operations, reported)

• Revenue growth of 19.5% (organic growth of 16.5%)
• EBITDA: +49% from CHF 45.3 million to CHF 67.6 million (EBITDA margin: 11.5%)
• EBIT: +134.7% from CHF 14.9 million to CHF 34.9 million (EBIT margin: 5.9%)
• Group result after tax: +299.7% from CHF 5.9 million to CHF 23.6 million.
  
• Increase of the vertical value-added depth through the acquisition of Glasverarbeitungs-Gesellschaft Deggendorf mbH (GVG), a subsidiary of the SAINT-GOBAIN Group. The Glass Solutions Business Unit thus integrates the processing of its most important raw material, glass, into its own production processes.
• The closing of the sale of the Windows Division to the Danish DOVISTA Group, announced on 5 January 2021, is expected in the next few days. All responsible competition authorities have now given their approval.

Arbon, 24 August 2021 - Arbonia can look back on a very successful first half-year of 2021. This was driven by the continued good building construction activity due to still favourable conditions resulting from low interest rates, a housing shortage, and European-wide subsidy programmes for energy-efficient new construction and renovation. Arbonia additionally benefits from its further strengthened competitive position as a European building components supplier. The investments made in recent years in automation, digitisation, and vertical integration created the conditions for gaining market shares in Central European sales markets and for further increasing profitability, even during the COVID-19 pandemic and the following upturn.

The following key figures relate to the continuing operations (HVAC, Sanitary Equipment and Doors): Revenue increased compared to the previous year from CHF 492.5 million (CHF 529.1 million in the first half-year of 2019) to CHF 588.6 million, corresponding to a growth in Swiss francs of 19.5% (11.2% compared to the first half-year of 2019) and organic growth of 16.5% (14.5% compared to the first half-year of 2019). EBITDA increased to CHF 67.6 million compared to CHF 45.3 million in the previous year (+49.0%) and compared to CHF 44.6 million in the first half-year of 2019 (+51.5%). This corresponds to an EBITDA margin of 11.5% (9.2% in the previous year and 8.4% in the first half-year of 2019). EBIT increased by 134.7% from CHF 14.9 million in the previous year (and from CHF 15.6 million in the first half-year of 2019) to CHF 34.9 million in the first half-year of 2021. This represents an EBIT margin of 5.9% in the first half-year of 2021 (3.0% in the previous year and 2.9% in the first half-year of 2019). The group result after tax amounted to CHF 23.6 million compared to CHF 5.9 million in the same period last year (+299.7%).

Cash flow from operating activities including the discontinued windows operations increased by 145.8% from CHF 21.0 million in the previous year to CHF 51.6 million and free cash flow from CHF -14.4 million to CHF 6.7 million. 

Arbonia acquires Serbian manufacturer of ventilation units

Arbon, 30 April 2021 - As part of its HVAC growth strategy, Arbonia has signed a purchase agreement for a 100% share in Termovent Komerc d.o.o. (Termovent). For the HVAC Division, the acquisition of this established Serbian manufacturer of commercial ventilation units geographically expands its integrated ventilation system range into Eastern Europe and extends its expertise in the area of indoor air quality, especially cleanrooms, throughout Europe.

Results of the Annual General Meeting of Arbonia AG

Arbon, 23 April 2021 - Today's General Meeting of Arbonia AG was held once more without the physical participation of shareholders. Shareholders were again only able to exercise their rights through the independent proxy. All motions proposed by the Board of Directors were approved.

HVAC Division strengthens sales position in Spain and Portugal

Arbon, 31 March 2021 - As part of its HVAC growth strategy, Arbonia is acquiring the Spanish market leader in the distribution of designer radiators and bathroom radiators, CICSA Industriales del Calor S.L. (Cicsa). This step secures both the medium-term planned revenue growth with components in Spain and Portugal as well as the expansion of the product range in the fast-growing HVAC systems business. 

Arbonia increases profit by over 70% and sets a course for the future

Annual results 2020 (continuing and discontinued operations)

• Currency-adjusted revenue growth of 2.1%
• Revenue decrease in Swiss francs of 1.4%
• EBITDA¹: +25.9% from CHF 125.4 million to CHF 157.8 million.
• EBIT: +84.6% from CHF 39.7 million to CHF 73.3 million.
• Group result: +71.4% from CHF 26.2 million to CHF 44.9 million.
• Combined dividend payment for the financial years 2019 and 2020 of CHF 0.47 (CHF 0.22 for 2019 and CHF 0.25 for 2020)
  

Strategic pillars and a trend-setting organisation as of July 2021

1. Integration of the Sanitary Equipment Division into the Doors Division: focus on wood and glass solutions
2. Change of leadership in the HVAC Division: Ulrich Bornkessel steps down as CEO of the HVAC Division and member of Arbonia Group Management due to age and, as planned, hands over to the Division's long-standing COO, Alexander Kaiss
3. From summer 2021, the new Arbonia will consist of two similarly large, focused divisions and a lean group management
4. New holding structure and governance as of April 2022: Alexander von Witzleben steps down as CEO as planned at the 2022 Annual General Meeting and is simultaneously proposed to the General Meeting as Executive Chairman of the Board of Directors 
5. Expanded focus on sustainability: First publication of a GRI-compliant sustainability report as an integral part of the 2020 annual report

Arbon, 2 March 2021 - For the financial year 2020, currency-adjusted revenue growth of 2.1% and in Swiss francs a decline of -1.4% from CHF 1416.0 million to CHF 1396.3 million resulted for the continuing and discontinued operations. The measures for a targeted increase in profitability ensured that EBITDA increased by 25.9%, compared to the previous year, to CHF 157.8 million (previous year: CHF 125.4 million, with one-time effects mainly from closures and ramping up of production plants). This corresponds to an EBITDA margin of 11.3% compared to 8.9% in the previous year. EBIT benefited disproportionally from this positive development and increased by 84.6% to CHF 73.3 million (previous year: CHF 39.7 million). Despite a lower financial result due to the appreciation of the Swiss franc and a higher tax burden due to the better pre-tax result, Arbonia was able to increase its group result by 71.4% to CHF 44.9 million (previous year: CHF 26.2 million).

Derived from these earnings figures, cash flow from operating activities increased by 26.4% from CHF 111.8 million to CHF 141.3 million and the free cash flow by 527.3% from CHF 8.4 million to CHF 52.5 million.

***
Explanations, definitions, and reconciliations for the alternative performance key figures are found in the annual report 2020 on pages 209 - 214.
¹ As a comparison for analyst consensus:
- EBITDA without one-time effects: +18.1% from CHF 134.8 million to CHF 159.2 million.
- EBIT without one-time effects: +44.5% from CHF 52.3 million to CHF 75.6 million. 
- Group results without one-time effects: +28.0% from CHF 36.5 million to CHF 46.7 million.
***

Arbonia sells windows business and strengthens remaining divisions

Arbon, 5 January 2021 – Arbonia has decided to accept an offer from the Danish DOVISTA Group to sell its window business. The proceeds of the sale are to be used to strategically further develop the remaining divisions of Arbonia and to substantially strengthen them both organically and through acquisitions. In addition, it is being considered to allocate part of the proceeds of the sale to the shareholders.

Outlook on the 2020 full year results

Arbon, 9 December 2020 - The second half of the financial year 2020 is going very well for Arbonia.

• Organic* growth in the second half-year is expected to be > 4%, approximately 2% in Swiss francs. 
   
• The revenue for the full year of 2020 is predicted to grow organically by > 1% but to decrease by around 2% in Swiss francs. 
   
• Consequently, Arbonia expects an EBITDA margin of approximately 11% for the financial year 2020; this corresponds to an EBITDA in the order of CHF 150 million. (Increase of ~ 11% without one-time effects and ~ 20% with one-time effects compared to the previous year)
   
• If this is the case, the EBIT, the free cash flow and the net profit will increase disproportionately.

Arbonia continues to invest in digitisation of the window market

Arbon, 3 December 2020 - For its Windows Division, Arbonia acquires the remaining share of 65% of Webcom Management Holding GmbH (Webcom) with multiple online platforms for construction elements or windows and doors, including bew24-fenster.de. In 2017, Arbonia already acquired a 35% stake in the company.

Arbonia successfully refinances syndicated loan

Arbon, 10 November 2020 – The new lending facility of CHF 250 million will once again be issued in the form of a syndicated loan, replacing the existing syndicated loan of CHF 350 million ahead of schedule, with an original term from September 2016 to September 2021. Arbonia managed to secure better structural conditions.

First semester results 2020 | Increase in profitability despite decline in revenue

Arbon, 18. August 2020 – Compared with last year, currency-adjusted revenue declined by 1.7%, while the revenue in Swiss francs decreased by 6.3% from CHF 688.4 million to CHF 644.9 million. Due to the improved cost structure, adjusted EBITDA (without one-time effects) grew to CHF 55.5 million from CHF 52.3 million (+6.1%) compared to the same period in the previous year. EBITDA with one-time effects increased from CHF 48.3 million in the same period last year to CHF 54.4 million, which represents an increase of 12.6%. Adjusted EBIT (without one-time effects) increased by 24.8% from CHF 11.5 million to CHF 14.4 million. EBIT with one-time effects increased by 76.7% from CHF 7.5 million to CHF 13.3 million. Adjusted group result after tax without one-time effects totalled CHF 5.5 million, compared to CHF 7.0 million in the same period last year. Group result after tax with one-time effects increased by 33.3% to CHF 4.6 million (previous year CHF 3.5 million).

Outlook on the 2020 half-year results

Arbon, 13 July 2020 – In the first half-year of 2020, business development at Arbonia was influenced by the COVID-19 pandemic and currency. Compared with last year, currency-adjusted revenue declined by 1.7%, while the revenue in CHF decreased by 6.3%. Due to the improved cost structure, Arbonia expects the EBITDA (with and without special effects) to exceed the figure for the previous year, accompanied by a disproportionate increase in the EBIT.*

Change in management in the Windows Division

Arbon, 19 June 2020 – Harald Pichler will step down as Head of the Windows Division and member of Group Management of the Arbonia Group. Nicolas Casanovas, Managing Director and Head of Sales at EgoKiefer AG, will succeed him on 1 July 2020.

Markus Hütt joins Doors Division management

Arbon, 5 June 2020 – Effective 1 September 2020, Markus Hütt will join the Doors Division of the Arbonia Group. He previously acted as CEO Central Europe for the American door manufacturer JELD-WEN. With his in-depth expertise in the doors industry and his many years of management experience, he is the perfect complement to Claudius Moor’s team.

Results of the Annual General Meeting of Arbonia AG

Arbon, 24 April 2020 – Today’s General Meeting of Arbonia AG was held without shareholders present based on article 6a of Ordinance 2 of the Swiss Federal Council on the Measures for Fighting the Coronavirus (COVID-19 Ordinance 2). Shareholders were able to exercise their rights through the independent proxy only. All motions proposed by the Board of Directors were approved. As a precaution and an additional measure for liquidity assurance, the Board of Directors resolved at its ordinary meeting, prior to the Annual General Meeting, to postpone the dividend, despite strong results and secured liquidity, and to return to the matter in autumn 2020.

Impact of COVID-19 on Arbonia

Arbon, 9 April 2020 – In view of the spread of COVID-19 and as a result of the decrees and measures issued by governments to date, national economies of Europe and, consequently, the global economy are expected to move into a recession in 2020. The Arbonia Group will also be affected by this in the 2020 financial year.

 

Despite these developments, Arbonia nevertheless had a good start to the financial year in all four divisions. In the first quarter of 2020, currency-adjusted revenue growth was 2.7% compared to the previous year. Net revenues decreased by 2.0% to CHF 326.2 million. EBITDA rose by 12.6% to CHF 22.5 million compared to the previous year.*

 

Though the results in the first three months exceeded the figures for the previous year and even our own expectations, the estimates for the coming year since the release of the results for the full year 2019 in February 2020 have changed negatively due to the COVID-19 pandemic, measures issued by governments and their economic implications. As neither the overall economic effects nor the impact on the Arbonia business units can be estimated, Group Management has decided to suspend guidance for the current financial year at the moment.

Change in management in the Doors Division

Arbon, 31 March 2020 – Peter Spirig will step down as Head of the Doors Division and member of Group Management of the Arbonia Group at his own request and hand over the reins to Claudius Moor, Managing Director and Head of Sales at Prüm and Garant, effective 1 July 2020.

Annual results 2019 | Arbonia with pleasing increase in profitability

• Net revenue: CHF 1416.0 million. (+3.1% compared to de previous year, CHF 1374.0 million)
• EBITDA of almost CHF 135 million at the upper end of the guidance (CHF 128 million - CHF 136 million)
• EBITDA without one-time effects: CHF 134.8 Mio. (previous year: CHF 115.1 million)
• EBITDA with one-time effects[1]: CHF 124.5 Mio. (previous year: CHF 130.5 million incl. proceeds of CHF 25.7 million from the sale of real estate)
• Group result without one-time effects: CHF 36.5 million (previous year: CHF 23.8 million)
• Group result with one-time effects: CHF 26.2 million (previous year: CHF 38.7 million incl. proceeds from the sale of real estate)

 

Arbon, 25 February 2020 – Arbonia increased the group revenue compared to the previous year (CHF 1374.0 million) by 3.1% to CHF 1416.0 million. Organic growth adjusted for acquisitions and currency effects amounted to 2.0%, with positive price effects in all divisions making a major contribution. Arbonia increased its EBITDA without one-time effects by 17% in the financial year 2019 compared to 2018 from CHF 115.1 million to CHF 134.8 million. EBITDA without one-time effects at the HVAC Division rose by 7.7%, at the Sanitary Equipment Division by 21.5%, at the Windows Division by 69.3%, and at the Doors Division by 9.2%. While the one-time effects in the reporting year were largely due to the closure costs of three production plants and were therefore negative (just under CHF 10 million), the one-time effects in 2018 on the other hand were positive at just under CHF 26 million due to the sale of property no longer required for operations. EBITDA with one-time effects decreased from CHF 130.5 million to CHF 125.4 million due to the described negative effects of the production plant closures and restructuring in 2019 and the positive effects in 2018. Despite a 32% increase in depreciation due to IFRS 16, investments and acquisitions, EBIT without one-time effects rose from CHF 47.8 million to CHF 52.3 million, which represents an increase of 9.5%. EBIT with one-time effects fell from CHF 61.0 million to CHF 39.7 million. Arbonia achieved a group result without one-time effects of CHF 36.5 million. In the previous year, this figure was CHF 23.8 million. Group result with one-time effects amounted to CHF 26.2 million (previous year: CHF 38.7 million incl. proceeds from the sale of real estate).

 

Due to the positive earnings figures, cash flow from operating activities increased by 60.7% from CHF 69.6 million to CHF 111.8 million and the free cash flow by CHF 62.2 million from CHF –53.8 million to CHF 8.4 million.

Arbonia continues to grow

• Net revenue of CHF 1416.0 million (+3.1% compared to previous year)
• 2.0% growth[1] when adjusted for currency and acquisition effects
• Despite lower revenue in the Windows Division, the quality of earnings was better than predicted
• Arbonia confirms EBITDA guidance

 

Arbon, 21 January 2020 – Arbonia achieved a net revenue of CHF 1416.0 million in 2019, which is an increase of 3.1% compared with the previous year (CHF 1374.0 million). When adjusted for currency and acquisition effects, revenue for the full year 2019 grew by 2.0% (1.4% organic growth in H1 2019, 2.5% organic growth in H2 2019).

 

The Windows Division is responsible for the lower than predicted organic growth of the entire Arbonia Group, experiencing reduced revenue compared with the previous year due to changes in the product mix. However, this has resulted in improved profitability. The revenue development in the other three divisions was as expected.

 

The prevalent lack of skilled workers is continuing to have a negative impact on all divisions and regions in both the installation trade and the production sectors. As a consequence, certain orders have not been completed or have been postponed until the following year.

Arbonia opens a new production site in Stupino (RUS)

Arbon, 10 October 2019 – Today marks the official opening of Arbonia's new production site for steel panel radiators in Stupino, Russia. For Arbonia, the resulting production capacity lays the foundation for further profitable growth in the Eastern European – primarily Russian – heating market, in order to strengthen and expand its already market-leading position.

Half-year result 2019 | Further increase in revenue and profitability

Arbon, 13 August 2019 – The revenue of the Arbonia Group rose by 6.6% to CHF 688.4 million in the first half-year of 2019 (previous year: CHF 645.6 million). The business of the Belgian radiator manufacturer Vasco Group, which has been consolidated since 1 June 2018, contributed to the result for the first time in the entire reporting period. Revenue growth after adjustment for acquisition and currency effects was 1.4%. Without one-time effects, including the IFRS 16 effect, EBITDA grew to CHF 52.3 million from CHF 40.5 million compared to the same period in the previous year (+29%). EBITDA with one-time effects increased from CHF 44.2 million in the same period last year to CHF 48.3 million (+9%) in the first half-year of 2019. EBIT without one-time effects grew from CHF 8.4 million to CHF 11.5 million (+37%). EBIT with one-time effects fell from CHF 12.1 million to CHF 7.5 million (−38%). Operating cash flow increased by CHF 18.1 million to CHF 1.6 million from CHF -16.5 million in the same period last year. The Group result after tax without one-time effects amounted to CHF 7.0 million compared to CHF 2.7 million in the same period last year (+158%).

RWD Schlatter wins major contract at Zurich Airport

Arbon, 3 May 2019 – In the tenders for the construction of THE CIRCLE at Zurich Airport (CH), Arbonia's subsidiary RWD Schlatter has been awarded a major contract. The general contractor HRS Real Estate AG has commissioned the Swiss door manufacturer RWD Schlatter to supply doors to the value of around CHF 8,000,000. By the time of the scheduled project completion in 2020, RWD Schlatter will have delivered over 3,200 doors.

General Meeting of Arbonia AG approves all motions

Arbon, 12th April 2019 – The shareholders of Arbonia AG approved all of the motions proposed by the Board of Directors at today's General Meeting. These motions included approving the management report of the Group, along with the consolidated financial statement and financial statements, as well as votes on compensation. Furthermore, all members of the Board of Directors standing for election and re-election were duly elected and re-elected. The shareholders also approved the payment of a dividend in the amount of CHF 0.20 per share, free of withholding tax.

Increase of the product-specific competitiveness for the HVAC Division by restructuring the Dilsen (BE) plant

Arbon, 20 March 2019 – The Heating, Ventilation and Air Conditioning (HVAC) Division of Arbonia intends to restructure some business units of the current production at the Dilsen (BE) location and to reduce existing overcapacities in order to increase its product-specific competitiveness.

Annual results 2018 | Revenue growth with an encouraging increase in profitability

• Net revenue of CHF 1 374.0 million incl. Vasco Group (+10.3% compared to last year; consolidated as of 1 June 2018)
• EBITDA of CHF 130.5 million (previous year: CHF 120.3 million)
• EBITDA without special effects of CHF 115.1 million (previous year: CHF 101.3 million)
• Group result from continuing operations: CHF 38.7 million (previous year: CHF 37.5 million)
• Group result from continuing operations and without one-time effects: CHF 23.8 million

Arbon, 26 February 2019 – In 2018, Arbonia recorded a net revenue of CHF 1374.0 million, equating to growth of 10.3% in comparison to the previous year (CHF 1245.6 million). When adjusted for acquisition effects, growth amounted to 5.2% and when adjusted for currency and acquisition effects, to 2.5%. In the 2018 financial year, EBITDA increased to CHF 130.5 million (previous year: CHF 120.3 million). Without one-time effects, EBITDA increased significantly to CHF 115.1 million compared with the previous year (CHF 101.3 million). The Group result from continuing operations rose from CHF 37.5 million in the previous year to CHF 38.7 million.

Dr Carsten Voigtländer is proposed as member of Arbonia Board of Directors

Arbon, 19 February 2019 – At the Annual General Meeting on 12 April 2019, the Arbonia Board of Directors will propose electing Dr Carsten Voigtländer as a new, independent member of the Board of Directors.

The continued strengthening of the financial base over recent years now also means that, at the Annual General Meeting, Arbonia will be able to propose shareholders a dividend free of withholding tax for the 2018 financial year for the first time since the 2013 financial year.

Revenue growth for Arbonia in financial year 2018

• Net revenue incl. Vasco Group (consolidated as of 1 June 2018) of CHF 1374.0 million (+10.3% in comparison to the previous year)
• 5.2% growth when adjusted for acquisition effects
• 2.5% growth when adjusted for currency and acquisition effects
   

Arbon, 22 January 2019 – In 2018, Arbonia recorded a net revenue of CHF 1374.0 million, equating to growth of 10.3% in comparison to the previous year (CHF 1245.6 million). When adjusted for acquisition effects, growth amounted to 5.2% and when adjusted for currency and acquisition effects to 2.5%.
 

This revenue development varied across the divisions. The Heating, Ventilation and Air-Conditioning (HVAC) Division saw especially pleasing developments, recording an increase in revenue of 8.2% when adjusted for acquisition effects and 5.0% when adjusted for currency and acquisition effects. However, the Sanitary Equipment Division suffered from shrinking effects due to excessive retail concentration of the Kermi and Koralle brands in Germany as well as aggravated market conditions in France. In all divisions and regions, both in the installation and production sectors, the prevailing shortage of skilled workers had an inhibitory effect. In the first half of 2018, the HVAC Division benefited from pull-forward effects in Russia due to new regulations regarding sheet thickness.
 

In the reporting year, Arbonia took an active part in the European market consolidation process in the area of design and steel panel radiators by acquiring the Belgian company Vasco Group for its HVAC Division. The acquisition will expand its geographical footprint and strengthen the division's range of products in the areas of residential ventilation and floor heating.

Arbonia and KIWI develop "SmartDOOR", an intelligent apartment entrance door

Arbon, 14 January 2019 - Arbonia is taking another important step in digitisation by acquiring a minority share in KIWI.KI GmbH, a PropTech company from Berlin (D). The Doors Division and the provider of KIWI, a digital entry system, have combined their expertise and are presenting the "SmartDOOR", the first ever fully integrated digital access solution for apartment entrance doors, at the BAU 2019 in Munich (D), the leading global trade fair for architecture, materials and systems.

Arbonia sells Arbon property to Ri-Ma Immobilien

Arbon, 14 December 2018 – Arbonia AG, represented by AFG Immobilien AG, is selling its 57 000 m² industrial property in the Brunnenwiese area in Arbon to Ri-Ma Immobilien GmbH, which is based in Widnau (CH).

Arbonia appoints Daniel Wüest as new Chief Financial Officer (CFO)

Arbon, 3 December, 2018 – The Board of Directors of Arbonia AG appoints Daniel Wüest as its new CFO and member of Group Management. Following an initiation period, he will take over at the General Meeting on 12 April 2019 the Corporate Finance business unit from his predecessor Felix Bodmer, who is stepping down from his post as CFO at his own request after more than 15 years of service.

Arbonia increases competitiveness of its HVAC Division by consolidating production of steel panel radiators

Arbon, 28 of November 2018 – To focus its expertise on competence centres and to further increase its competitiveness, the Heating, Ventilation and Air Conditioning (HVAC) Division is consolidating its steel panel radiator production at its highly automated production sites. This is intended to increase the capacity utilisation and productivity of the other production sites and further concentrate its specialist knowledge.

Arbonia sells Dietlikon property to property fund

Arbon, 30 October 2018 – Arbonia AG, represented by AFG Immobilien AG, is selling its industrial property, which is no longer required for operational purposes, located at Riedmühlestrasse in Dietlikon, Zurich (CH), to the Swiss Finance & Property Funds AG. As the fund manager of the property fund “SF Sustainable Property Fund”, the company will take over both properties with a total space of around 22,000 m².

First semester results for 2018 financial year | Pleasing organic growth with stable profitability development

Arbon, 14 August 2018 – Adjusted for the discontinued Industrial Services and Profile Systems Business Units in the second half of 2017, Arbonia Group grew by CHF 87 million, or 15.6% to a revenue of CHF 645.6 million in the first half of 2018. EBITDA rose from CHF 34.5 million in the period a year prior to CHF 44.2 million in the first half of 2018. EBITDA without special effects increased from CHF 35.7 million to CHF 40.5 million. EBIT rose from CHF 6.9 million in the same period last year to CHF 12.1 million in the first half of 2018. EBIT without special effects, increased from CHF 7.5 million to CHF 8.4 million. Operating income after tax with continuing operations amounted to CHF 6.7 million compared to CHF 0.5 million in the same period last year. By mid 2018, Arbonia is on track to achieve its financial targets.

Arbonia acquires Vasco Group, the market leader for radiators for Benelux

Arbon, 17th of May 2018 – Arbonia is taking an active part in the European market consolidation process in the area of design and steel panel radiators by acquiring the Belgian company Vasco Group for its heating, ventilation and air-conditioning technology division (HVAC). The acquisition will expand its geographical footprint and strengthen the division's range of products.

General Meeting of Arbonia AG approves all motions

Arbon, 20 April 2018 – The shareholders of Arbonia AG approved all motions proposed by the Board of Directors at today's Annual General Meeting. The management report of the Group, financial statements and consolidated financial statements as well as votes on the compensations were approved and all members of the Board of Directors standing for re-election were re-elected. Three amendments to the articles of association were also approved.

Arbonia also announces the successful placement of certificates of indebtedness (“Schuldscheindarlehen”) in the amount of EUR 125 million.

Arbonia announces agenda items and motions proposed by the Board of Directors for the Annual General Meeting 2018

Arbon, 26 March 2018 – The Arbonia AG publishes the agenda items and motions proposed by the Board of Directors for the Annual General Meeting from 20th April 2018.

Annual Results 2017 | Good results, strategically and financially sound

• Net revenue, including discontinued operations (Condecta and Profile Systems Business Unit), of CHF 1378.5 million (+38.5% in comparison with the previous year)
• Net revenue from continuing operations of CHF 1245.6 million (+35.9% in comparison with the previous year)
• EBITDA, including discontinued operations: CHF 140.6 million (+104.6% in comparison with the previous year)
• EBITDA, including discontinued operations and without one-time effects: CHF 122.5 million
• EBITDA from continuing operations: CHF 120.3 million (+84.2% in comparison with the previous year)
• EBITDA from continuing operations and without one-time effects: CHF 101.3 million
• Group result, including discontinued operations: CHF 46.4 million (previous year CHF 7.6 million)
• Group result from continuing operations: CHF 37.6 million (previous year CHF 5.4 million)
• Group result from continuing operations and without one-time effects: CHF 22.8 million

 

 

Arbon, 27 February 2018 – Including the discontinued operations (Condecta and Profile Systems Business Unit), Arbonia increased its consolidated turnover by 38.5% to CHF 1378.5 million. When adjusted for currency and acquisition effects, growth amounted to 1.5%. Consolidated revenue for the continuing operations (without Condecta and Profile Systems Business Unit) rose by 35.9% to CHF 1245.6 million. On a pro forma basis (including the doors business of the Looser and Koralle Group), Arbonia achieved growth of 2.6%, when adjusted for currency and acquisition effects. This growth was achieved in a financial year that was marked by production facility relocations, rising raw material prices and the integration of the doors business of the Looser and Koralle Group.

It was possible to increase EBITDA from continuing operations by 84.2% and it was therefore disproportionately high when compared to revenue. Arbonia achieved a group result of CHF 46.4 million (previous year CHF 7.6 million).

Stable revenue development for Arbonia in financial year 201

• Net revenue including discontinued operations (Condecta and Forster Profile Systems) of CHF 1378.5 million (+38.5% in comparison with the previous year)
   

• Net revenue from continuing operations of CHF 1245.6 million (+35.9% in comparison with the previous year)
   

• ​Market expectations regarding revenue achieved or exceeded

 

Arbon, 23 January 2018 – Arbonia's net revenue including discontinued operations (Condecta and Forster Profile Systems) reached CHF 1378.5 million in 2017, which corresponds to an increase of 38.5% in comparison to the previous year. When adjusted for currency and acquisition effects, growth amounted to 1.5%, achieving or even exceeding market expectations regarding revenue. The companies of the Looser and Koralle Groups, which were consolidated for the full year for the first time, contributed significantly to the solid performance.

 

The net revenue from continuing operations (without Condecta and Forster Profile Systems) increased in 2017 by 35.9% to CHF 1245.6 million. On a pro forma basis (including the door business of the Looser and Koralle Group), Arbonia achieved a growth of 2.6%, when adjusted for currency and acquisition effects. This growth was achieved in a financial year, which was marked by production facility relocations, rising raw material prices and the integration of the Looser door business and the Koralle Group door business. Due to a strong 4th quarter, the growth of the continuing operations in the second half of 2017 amounted to 5%.
 

Arbonia's Sanitary Equipment business has reached a strategic size and importance, meaning the Arbonia Group has decided to split the Building Technology division starting in 2018 into two business units: the HVAC Division (Heating, Ventilation and Air Conditioning) and the Sanitary Equipment Division. 

justify,Arbonia sells real estate property in Altstätten to Valrheno

Arbon, 21 December 2017 – In collaboration with the EgoKiefer AG welfare foundation, EgoKiefer AG has sold its non-essential property on Schöntalstrasse in Altstätten to Rheintal Valrheno Immobilien AG. The company will take over various properties with a total space of around 45,000 m², including office space and production halls.

Arbonia sells Forster Profile Systems to the Belgian Reynaers Group

Arbon, 15 December 2017 – Arbonia AG is divesting itself of the Profile Systems Business Unit and selling Forster Profile Systems Ltd. with all subsidiaries to the Belgian family-owned company Reynaers Group. Under the aegis of Europe's leading specialist for aluminium system solutions for the construction industry, Forster Profile Systems will be able to develop in a more targeted way. Arbonia thus continues to focus on its three core areas of Building Technology, Windows and Doors.

Arbonia is selling the Industrial Services Division to Paragon Partners

Arbon, November 14, 2017 – Arbonia AG can now successfully finalise their search for a new owner of the Industrial Services Division, which commenced in July 2017; the new owner of the Condecta Group is Paragon Partners. The sale to Paragon Partners will not see a change in the successful business approach and strategy they have applied to date.

First semester results 2017

Arbon, 10 August 2017 – Arbonia Group revenue grew by 36 % compared to the previous year (CHF 459.0 million) to CHF 624.4 million. Organic growth – that is, growth without the contributions of the Looser and Koralle Groups – stood at –1.8 %. EBITDA increased from CHF 27.3 million in the previous year to CHF 44.6 million, respectively from CHF 23.3 million to CHF 45.9 million adjusted for special effects. EBIT improved as compared to the previous year, rising to CHF 12.6 million or CHF 13.2 million in adjusted terms (previous year: CHF 5.7 million or CHF 4.2 million in adjusted terms). Arbonia’s operating income after tax with continuing operations yielded a positive result, amounting to CHF 5.4 million, or CHF 6.2 million without special effects (previous year:
CHF –3.5 million or CHF –5.3 million without special effects).

Arbonia intends to sell Industrial Services Division

Arbon, 3 July 2017 – After completing a strategy review for the Industrial Services Division, Arbonia AG has decided to consider new owners for the Condecta Group. It is paramount for Arbonia AG to find a future-oriented solution with development opportunities for the employees and operational activities of the division. Arbonia intends to focus on its three core divisions of Building Technology, Windows and Doors.