Conzzeta Group: interim report shows slight increase in revenue

During the first eight months of 2008, Conzzeta Group businesses performed at the same level as in the previous year. Consolidated net revenues increased by 3.1% to CHF 985.3 million from CHF 955.6 mi…

During the first eight months of 2008, Conzzeta Group businesses performed at the same level as in the previous year. Consolidated net revenues increased by 3.1% to CHF 985.3 million from CHF 955.6 million in 2007. After adjustment for currency translation effects, revenue growth was 7.7%. Operating profit (EBIT) was CHF 73.6 million, slightly lower than the corresponding period of 2007 (CHF 74.7 million). Revenues and earnings were affected by the unfavorable currency situation. On the basis of the current order situation, the company sees the present revenue trend possibly being maintained to the end of 2008. The operating result in 2008 is seen as slightly lower than in 2007 owing to the negative impact of currency effects and the rise in procurement costs. The Glass Processing Systems business unit (Bystronic glass) maintained an upward course in the reporting period, with sales rising 11.7% to CHF 173.3 million from CHF 155.2 million. The growth momentum was particularly strong from some European markets, as well as China, Russia and the Middle East, while demand in the USA and UK came to a virtual standstill because of the housing market crisis. Elsewhere in Europe, demand for architectural glass processing systems appears to be faltering, the group said. On a more promising note for the future development of the business unit, there was lively interest in integrated glass processing systems and production plant for laminated safety glass and solar cells.