Schaffner Confirms Targets for Organic Growth and Operating Result
OREANDA-NEWS. The Schaffner Group confirms the organic growth target for net sales of more than 5% annually and the EBIT margin target of 8% defined in the 2020 strategy. With the timing of suitable acquisitions difficult to plan in the current market environment, however, the potential impact on sales of acquisitions has been omitted from the strategic guidance for the period up to fiscal 2019/20.
For fiscal year 2015/16 (as at 30 September 2016), Schaffner still expects to achieve net sales of over CHF 180 million. In terms of operating EBITA, a sequential improvement over the first half of the year is expected. As communicated in the half-year report, the costs of ongoing cost-cutting measures mean that both operating EBITA and net profit in 2015/16 are likely to be considerably below prior-year values.
After the SIX Swiss Exchange approved Schaffner Holding AG’s application to change reporting standard in connection with the conversion of the consolidated financial statements to Swiss GAAP FER, Schaffner shares will be traded for the last time under the international reporting standard on 30 September 2016 and then traded under the Swiss reporting standard from Monday, 3 October 2016. They will remain part of the Swiss Performance Index (SPI) and will continue to be listed in the SPI Extra, SPI ex SLI and Swiss All Share indices.