Streamlining of the business portfolio: Sale of the Glass Processing segment completed

Zurich, April 1, 2019 – Conzzeta has reported that it has completed the sale of the Glass Processing segment to the finnish Glaston Corporation, which was announced on January 25, 2019. 

The change of control will take place on April 1, 2019, with the corresponding deconsolidation. Dr. Burghard Schneider will leave the Conzzeta Executive Committee.

According to Michael Willome, Conzzeta Group CEO: “The improvement in operating performance in the Glass Processing segment over the last years deserves the highest accolades. We would like to thank Dr. Burghard Schneider, his management team and all the employees for their successful work and wish them every success for the future.”   

In 2018, the Glass Processing segment contributed CHF 133.3 million or 7.5% to Conzzeta’s Group revenue. With the conclusion of the transaction, Conzzeta expects a substantial divestment gain for the first half of 2019.


 

Half-Year Report at June 30, 2019: First half of 2019 with expected slowdown

  • Market-related slowdown compared with strong previous-year period
  • Net revenue CHF 770.1 million; on a comparable1 basis 5.6% below the previous year
  • EBIT CHF 90.5 million, including divestment gain of CHF 30.6 million
  • EBIT margin excluding divestment gain stable at 7.6% of total revenue
  • Earnings per share A including divestment gain at CHF 34.76, up 66.0%
  • Extraordinary AGM with proposal for a special dividend of CHF 30.00 per share A
  • More decentralized management for accelerated strategic and operational development 
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