In a demanding market, Schaffner lays the foundation for growth to come - Fiscal 2019/20 remains challenging
(WorldNews Switzerland)

In a demanding market environment in fiscal year 2018/19, the Schaffner Group generated net sales of CHF 197.4 million (prior year or PY: CHF 221.5 million), representing a decrease of 10.9%, or 9.3% in local currencies. As a result mainly of a reduction in automotive business and generally lower utilization at most production plants, Group EBIT declined to CHF 9.8 million (PY: CHF 17.2 million). The resulting EBIT margin in the fiscal year under review was 5.0% (PY: 7.7%). The comparable EBIT margin in the prior year was 7.2%, i.e., excluding that year`s combined net positive one-time effect of CHF 1.2 million from insurance payments after the fire at the plant in Thailand in late 2017 and...