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ORIOR grows in a stagnant overall market and achieves a clear increase in profit
Zurich, 22 February 2011 ORIOR AG, one of Switzerland's leading producers of meat products and fresh convenience foods, achieved record revenues and a further improvement in profits in the 2010 financial year. In a largely stagnant food sector, revenues were 1 percent higher than in the previous year at CHF 505.5 million. The rise was exclusively due to organic growth. Despite continuing price pressure, ORIOR increased its EBITDA by 3.8 percent to CHF 54.2 million, which pushed the EBITDA margin up to 10.7 percent. Profit for the year went up 12.4 percent to CHF 26.9 million. The Board of Directors is proposing to the forthcoming Annual General Meeting that it approve a dividend of CHF 1.90 per share, representing a distribution ratio of approximately 42 percent. Thanks to the inflow of funds from earnings and last year's IPO, ORIOR was also able to strengthen its balance sheet significantly. Current liabilities were cut from CHF 103.7 million to CHF 88.6 million, while equity rose substantially from CHF 69.0 million to CHF 170.3 million, giving an equity ratio of 43.8 percent. CEO Rolf U. Sutter (56), who over the last twelve years has built ORIOR AG into one of the most successful food companies in Switzerland, and who led it to an IPO in April 2010, is handing over operational management to Remo Hansen (49), on 1 May 2011. Mr. Hansen is currently in charge of the Pastinella and Fredag competence centres and is a longstanding member of ORIOR Group's Management Board. Rolf U. Sutter is due to be elected Chairman at the constituting meeting of the Board of Directors that takes place after this year's AGM.  >>>