Positive momentum continued in the first half-year of 2018

-Sales up 20% to CHF 2’396 million, organically 12%
-EBIT increased 24% to CHF 208 million for a 8.7% ROS
-Net result after minorities grew 27% to CHF 150 million
-Execution of Strategy 2020 fully on track
-Promising aerospace technology supplier acquisition closed (April 2018) at GF Casting Solutions

Amid positive economic developments worldwide, sales went up 20% during the first semester of 2018 to CHF 2’396 million compared to the same period of 2017. All three divisions did contribute to the increase. Free of acquisitions and currency effects organic growth stood at 12%. Following another semester of operating margin expansion, the operating result grew 24% to CHF 208 million. All three divisions increased their operating result (EBIT), most significantly GF Piping Systems and GF Machining Solutions. The operating margin or return on sales (ROS) improved from 8.4% to 8.7% and the return on invested capital (ROIC) went from 19.2% to 21.2%. Net profit after minorities increased by 27% to CHF 150 million. Seasonality-driven free cash flow before acquisitions stood at CHF −55 million, compared to CHF −30 million during the same period of 2017. For the whole year, we continue to expect a figure in line with our published CHF 150−200 million goal. Earnings per share reached CHF 37 against CHF 29 in the first semester 2017.

The portfolio of GF Automotive has been enriched with the acquisition of Precicast Industrial Holding SA (Switzerland), a leading precision casting specialist in the promising aerospace and gas turbine field. As a consequence, the division has been renamed GF Casting Solutions. The long-term financing of the Corporation has also been further strengthened and strategic flexibility increased with the emission of a 10-year, CHF 200 million straight bond with a 1.05% coupon.

Key figures as of 30 June 2018

Key figures as of 30 June 2018

Contact

Daniel Bösiger
Head of Corporate Controlling / Investor Relations
Georg Fischer AG
Amsler-Laffon-Strasse 9
8201 Schaffhausen
Switzerland

daniel dot boesiger #at# georgfischer dot com

Beat Römer
Head of Corporate Communications
Georg Fischer AG
Amsler-Laffon-Strasse 9
8201 Schaffhausen
Switzerland

media #at# georgfischer dot com

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