HOCHDORF Group Press Release: Business Update
Hochdorf, 22 July 2020 – The 2019 interim results for HOCHDORF Holding Ltd were strongly influenced by value adjustments (EBITDA CHF -39.4 million; EBIT CHF -52.4 million). With the publication of the Annual Report 2019 in March 2020, the Board of Directors announced that the EBITDA covenant of CHF >0 for the first half of 2020 was not considered a risk. The HOCHDORF Group now confirms compliance with the EBITDA covenant of CHF >0 as of 30.06.2020. There are also signs that the HOCHDORF Group has achieved a slightly positive result at EBIT level.
Details of the half-yearly result will be published by the HOCHDORF Group on 17 August 2020.
Contact: Dr Christoph Hug, Head of Corporate Communications HOCHDORF Group, Tel:+41 (0)41 914 65 62 / +41 (0)79 859 19 23, christoph.hug@hochdorf.com.
About the HOCHDORF Group:
The HOCHDORF Group, based in Hochdorf, achieved a consolidated gross sales revenue of CHF 456.8 million in 2019. It is one of the leading foodstuff companies in Switzerland, employing over 618 staff as of 31.12.2019. Made from natural ingredients such as milk, whey and oil seeds, HOCHDORF products have been contributing to our health and well-being since 1895 – from babies to senior citizens. Its customers include the food industry and the wholesale and retail sectors and its products are sold in over 70 countries. The shares are traded on the SIX Swiss Exchange in Zurich (ISIN CH0024666528).