Schaffner Group expecting a fall in 2011/12 interim results compared with previous year

As announced at the Annual General Meeting on January 12, 2012, the Schaffner Group expects consolidated net sales in the first half of 2011/12 to be between 15% and 20% lower than the figure for the first half of 2010/11 (first half of 2010/11: CHF 99.2 million) due to weak order flows in the previous year and consequently slightly below the second half of fiscal 2010/11 (second half of 2010/11: CHF 84.5 million). The expectation is for a slightly positive operating result (EBIT) after six months that will be well down on the previous year (first half of 2010/11: CHF 9.0 million).

There has been a significant improvement in the order situation over the past few months in all divisions. In particular, there have been substantial new orders from the rail technology and photovoltaic markets. Due to the sharp increase in new orders the Schaffner Group expects to see a rise in net sales and EBIT in the second half of fiscal 2011/12 compared with the first half-year.

Luterbach, March 21, 2012

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