Schaffner expects to remain in the profit zone despite a significant sales decline in the first half of fiscal 2019/20

Luterbach, 16 April 2020 – Affected by a slowdown in momentum in important end markets in the first quarter and the negative impact of the corona pandemic from the second quarter onwards, net sales of the Schaffner Group fell by 15% to CHF 86.0 million in the first half of fiscal 2019/20 (prior-year period: CHF 101.4 million). Despite this significant decline in sales, the Group expects both a positive operating result (EBIT) and a net profit for the period.

The corona pandemic affects global value chains and demand worldwide. With a comprehensive program, Schaffner has been able to ensure the health of its employees and maintain its supply capability at all times. Measures such as short-time work, structural and capacity adjustments in overheads and production plants, the postponement of replacement investments and rigorous cost management help to contain the negative effects. In addition, the Board of Directors and the Executive Committee are waiving a part of their fixed compensation.

On 7 May 2020, the Schaffner management will give an overview of the business development in a webcast at the presentation of the half-year results 2019/20.

Financial calendar