17.04.2020 – Conzzeta AG

Conzzeta: Significant slowdown - consistent measures

Conzzeta / Key word(s): Quarterly / Interim Statement
Conzzeta: Significant slowdown - consistent measures

17-Apr-2020 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.


Interim information as of the end of Q1 2020
Significant slowdown - consistent measures

Zurich, April 17, 2020 - The Conzzeta Group posted net revenue of CHF 298.4
million for the first three months of 2020. Organically it was down 14.5% on
the previous year. On the same basis, order intake in the Sheet Metal
Processing segment dropped by 19.8%.

The downturn in business across all regions was primarily due to disruptions
in the production and sales channels caused by the coronavirus pandemic. In
the Sheet Metal Processing and Chemical Specialties segments, plants had to
be shut down in China, Italy, France and partly the USA, amongst other
things. In the Outdoor segment, closure of the retail stores meant the loss
of the main sales channel.

                                             Change in
    CHF m                         3M    3M   reported  organic1)
                                 2020  2019
    Group net revenue            298.4 394.4   -24.3     -14.5

    Sheet Metal Processing
    Order intake                 169.7 222.2   -23.6     -19.8
    Net revenue                  173.8 207.9   -16.4     -12.6

    Net revenue of discontinued
    Chemical Specialties         73.82 93.52   -21.1     -13.7
    Outdoor                      50.8  70.8    -28.2     -26.2
    Glass Processing               -   22.4      -         -
1 At constant exchange rates and adjusted for changes in the scope of
2 Incl. Schmid Rhyner (CHF 13.2 million 2019 and CHF 6.9 million 2020).

Staggered in time in the various regions, the majority of customers and
employees is directly affected by the worldwide efforts to contain the
pandemic. Conzzeta has introduced consistent measures to cushion the
economic and social impacts, including by making use of the support
mechanisms offered. The different business units are expanding their range
of digital services and solutions in the current situation. With extensive
liquid assets and a high equity ratio, Conzzeta is well positioned to
implement important initiatives consistently and respond quickly and
flexibly to future developments. From the sale of the Business Unit Schmid
Rhyner as per the end of February 2020, Conzzeta expects a divestment gain
of around CHF 45 million for the first half of 2020.

Michael Stäheli, Head Investor Relations & Corporate Communications;
Tel. +41 44 468 24 49; media@conzzeta.com

About Conzzeta
Conzzeta is a diversified Swiss group of companies. It stands for
innovation, market orientation and an entrepreneurial approach. About 5,000
employees at more than 60 locations worldwide work in the Sheet Metal
Processing, Foam Materials and Outdoor segments. In December 2019, Conzzeta
announced a strategic focus on the Sheet Metal Processing segment and the
sale of all its other activities. Conzzeta AG is listed on the SIX Swiss
Exchange (SIX:CON).


End of ad hoc announcement