The 2020 business year: Diversification proves its worth
The CPH Group delivered a relatively sound overall performance during the coronavirus pandemic in 2020, thanks to its diversification in various business segments. With net sales of CHF 445.2 million, the Group achieved annual earnings before interest and taxes (EBIT) of CHF 24.7 million. The net result for the year of CHF 47.0 million was broadly at its 2019 level, thanks to non-recurring income of CHF 25.9 million. The 2021 Ordinary General Meeting will be asked to approve the distribution of a dividend of CHF 1.80 per share for the 2020 financial year.
CPH Chemie + Papier Holding AG plans merger with its main shareholder Uetikon Industrieholding AG
Uetikon Industrieholding AG is to be merged into CPH Chemie + Papier Holding AG. As a result, the present shareholders of Uetikon Industrieholding AG will hold shares directly in CPH Chemie + Papier Holding AG, raising the free float and thus enhancing the attractiveness of the CPH share. Following the merger, the CPH Group will continue to have the descendants of its founding families as strong anchor shareholders within its shareholder base.
CPH generates deferred tax income of some CHF 12 million
The CPH Group is transferring certain land assets to a newly-founded real estate subsidiary in a move that will generate deferred tax income of around CHF 12 million. This will raise the Group’s non-recurring income for 2020 to some CHF 26 million. The CPH Group now expects to report a net result for the current year of around CHF 40 million.
Domestically-produced paper is more sustainable
Perlen Papier, a company of the CPH Group, continues to ensure the recycling of recovered paper and the production of newsprint in Switzerland during the corona crisis, too. Having consistently reduced its emissions, Perlen Papier now has a carbon footprint which is 75% smaller than those of its European competitors. Newspapers and magazines that are printed on Perlen Papier paper are ecofriendly and sustainable.
Perlen Packaging to build film coating plant in Brazil
Having constructed a new film coating plant in China, the Packaging Division of the CPH Group is now continuing its emerging markets expansion in Latin America. Perlen Packaging is to build a further new film coating plant at its operating site in Brazil where it will also be co-financing a new calendering facility for mono film production.
2020 first-half results: All divisions in profit for the first six months
The CPH Group reports net sales of CHF 231.8 million for the first half of 2020, a 13.3% decline on the prior-year period attributable largely to the coronavirus pandemic. First-half EBIT also declined to CHF 17.8 million. The net result was unchanged at CHF 27.2 million, thanks primarily to an extraordinary income item.
Bernhard Schaub, first CPH Board Chairman, deceased
Dr. Bernhard Schaub, the first Chairman of the Board of Directors of CPH Chemie + Papier Holding AG, has passed away at the age of 90. Dr. Schaub was responsible for the company’s foundation in 1971, and continued to serve as its Board Chairman until 1999.
Lower provisions required for Uetikon lake bed clean-up
Canton Zurich has commissioned a full-services contractor to conduct the clean-up of the lake bed beside the CPH Group’s former Uetikon operating site. The total cost of the operation is now projected to be lower than the CHF 40 million which was estimated at the time of the site’s sale to Canton Zurich. In view of this, the CPH Group can release CHF 12 million of the provisions which it originally made for these clean-up activities.
The 2019 business year: CPH achieves its first-ever double-digit annual EBIT margin
The CPH Group generated total net sales of CHF 524.7 million for 2019, broadly in line with prior-year levels. EBIT for the year was raised 9.6% to CHF 56.6 million, while the net result of CHF 48.5 million was a 14.6% year-on-year improvement. In place of a dividend, the Board of Directors will recommend a CHF 1.80 reduction in the nominal value of the CPH share and the repayment to shareholders of the reduction amount.
2019 Half-year report: Encouraging business performances in all three divisions
The CPH Group generated net sales of CHF 267.5 million in the first six months of 2019, a 1.3% improvement on the prior-year period. All three business divisions reported encouraging operating results. Group first-half earnings before interest and taxes (EBIT) were raised 15.0% to CHF 32.0 million, and the net result of CHF 27.2 million was a 20.1% improvement on January-to-June 2018.
CPH repays CHF 120 million bond
CPH Chemie + Papier Holding AG repaid its 2.75% bond on 10 July 2019, raising the company’s balance sheet equity ratio back towards 60%.
The 2018 business year: CPH Group achieves record operating margin
The CPH Group increased its annual net sales by 13.6% to CHF 533.5 million in 2018. Earnings before interest and taxes (EBIT) were raised from CHF 2.9 million to CHF 51.6 million. The net result amounted to CHF 42.3 million. A doubled dividend of CHF 1.30 per share will be proposed for the year, together with a special 200th anniversary dividend of CHF 0.50 per share.
Outlook for 2018 annual results
The strong business trends of the first half of 2018 continued in the third-quarter period, and the CPH Group expects to report annual results for the 2018 financial year that are a substantial improvement on the prior year.
CPH increases public bond to CHF 100 million
CPH Chemie + Papier Holding AG (CPHN) has increased the total amount of the public bond launched on 14 September 2018 by CHF 15 million. The action has been taken in response to high investor demand.
CPH refinances Swiss-franc bond
CPH Chemie + Papier Holding AG (CPHN) placed a CHF 85 million corporate bond on the Swiss capital market today. The Swiss-franc bond has a maturity of 5 years and carries a coupon of 2.0%.
High prospects: the CPH Group welcomes its new apprentices
Sixteen young people embarked on a new phase in their lives at the end of August. They began their vocational training in nine different units at the CPH Group’s operating sites in Perlen (Switzerland) and Müllheim (Germany).
Interim results 2018: earnings substantially improved
The CPH Group generated total net sales of CHF 264.1 million in the first six months of 2018, a 14.0% increase on the prior-year period. First-half EBITDA amounted to CHF 43.3 million. All three business divisions posted substantially-improved earnings, and the group EBIT margin for the period rose to 10.5%. The Packaging Division achieved a new record operating result.
Zeochem acquires distribution business from Yusheng
The CPH Group’s Chemistry Division takes over the sales activities for molecular sieves in China from Shanghai Yusheng Chemical Co. Ltd.
CPH Group achieves growth in all business divisions
The CPH Group increased its annual net sales by 8.0% to CHF 469.8 million in 2017, and achieved further success in its internationalization strategy. Thanks to extraordinary income, the net result for the year was improved by CHF 23.9 million to CHF 16.2 million. The dividend payment for the year remains unchanged at CHF 0.65 per share.
Perlen Packaging to acquire Sekoya of Brazil
Perlen Packaging AG, the packaging division of the CPH Group, is to acquire a majority shareholding in Sekoya Industria e Comercio Ltda. of Brazil. As well as representing Perlen Packaging in the Brazilian market, Sekoya maintains its own finishing plant.
Zeochem to acquire Armar
The Chemistry Division of the CPH Group is to acquire Armar AG, a manufacturer of deuterated solvents and its long-established distribution partner, under an asset deal effective 1 March 2018.
Paper Division to acquire Papierfabrik Utzenstorf AG’s paper recycling business
The Paper Division of the CPH Group is to take over the customer and recovered paper supplier contracts of Papierfabrik Utzenstorf AG with effect from 1 January 2018. The acquisition will ensure the continuation of waste paper recycling in the Swiss communities concerned. The Utzenstorf recovered paper sorting facility will also remain in operation.
Interim Results 2017: CPH increases net sales in all its business divisions
The CPH Group generated total net sales of CHF 231.7 million in the first six months of 2017, a 5.5% improvement on the same period last year, and achieved a slightly positive first-half operating result. Earnings for its Chemistry and Packaging divisions showed encouraging trends, while the EBIT result for the Paper Division was depressed by higher recycled paper prices.
Chemistry and Packaging divisions sharpen brand profiles
The CPH Group’s Chemistry and Packaging divisions will in future trade solely under the “Zeochem” and “Perlen Packaging” brands.
Zeochem merges its Swiss-based companies
The CPH Group’s Chemistry Division is merging its Swiss-based companies CU Deutero + Agro AG and Chemie Uetikon AG into Zeochem AG.
Business Year 2016: CPH Group expands in Asia and posts a positive EBIT result
The CPH Group raised its net sales 3.5% to CHF 434.8 million in 2016. With actions consistently taken to further enhance efficiency, EBIT was improved CHF 27.7 million to CHF 5.9 million. The Chemistry and Packaging divisions continued to pursue their Asian growth strategy.
Zeochem to build production plant in Zvornik
Zeochem, the Chemistry Division of CPH Chemie + Papier Holding AG has acquired an industrial site in Bosnia and Herzegovina to build a new production facility. The plant, planned to be completed by the end of 2017, will be used to manufacture molecular sieves powder and silica chromatography gels.
Interim Results 2016: CPH returns to operating profit in the first half of 2016
The CPH Group’s extensive endeavours to offset the adverse impact of a strong Swiss franc paid off in all three of the Group’s business divisions in the first six months of 2016. Total net first-half sales amounted to CHF 219.5 million, a 10.1% increase on the prior-year period; and first-half EBITDA and EBIT were both raised by well over CHF 20 million, to CHF 22.0 million and CHF 6.0 million respectively. CPH expects to report a positive operating result for 2016 as a whole.
CPH’s paper business shows strong environmental credentials
The Paper Division of the CPH Group has almost halved its greenhouse gas emissions per tonne of paper produced at its Perlen operating site in the last five years. The business is also a European leader in its heating and electricity efficiency, as its 2015 Environmental Impact Statement – its first ever – confirms.
Richard Unterhuber appointed CFO of the CPH Group
The Board of Directors of CPH Chemie + Papier Holding AG (SIX: CPHN) has appointed Richard Unterhuber as the new Chief Financial Officer (CFO) of the CPH Group. He will assume his new duties on 1 October.
CPH Group to help Canton Zurich build new high school in Uetikon
Canton Zurich plans to build a new high school on the present site of the CPH Group’s Uetikon chemistry operations in a few years’ time. CPH can continue its manufacturing activities for the time being, and is considering relocating its Uetikon production to alternative sites either locally or outside Switzerland.
Business Year 2015: CPH Group impacted by paper price declines and a strong Swiss franc
The strength of the Swiss franc and lower paper prices both impacted negatively on the business and results of the CPH Group in 2015. Net group sales for the year fell 14.7% to CHF 420.0 million, and consolidated annual EBIT also declined to CHF –21.8 million. For 2016 the Group aims to return to profit with its operating result.
CPH Group CFO to step down
Manfred Häner to relinquish his position after four years
Zeochem acquires ALSIO of China
The CPH Group has agreed to acquire a majority shareholding in Jiangsu ALSIO Technology of the Jiangsu Feixiang Group. The purchase of China’s leading manufacturer of molecular sieves marks a further milestone in CPH’s current expansion strategy.
Interim Results 2015: Chemistry and Packaging improve first-half EBIT; Paper Division feels impact of weak euro and lower paper prices
All three business divisions of the CPH Group increased their sales volumes in the first half of 2015 over the same period last year. But with a weaker euro and lower paper prices, net group sales for the period fell 18.0% to CHF 199.3 million, and the first-half group EBIT of CHF -18.5 million was a CHF 27.8 million decline on the prior-year period. On a brighter note, and despite a strong Swiss franc, the Chemistry and Packaging divisions achieved slight year-on-year improvements in their first-half EBIT results.
Business Year 2014: CPH posts black-ink result
CPH Chemie + Papier Holding AG increased its net sales by 2.3% to CHF 492.5 million in 2014, and achieved earnings before interest and taxes (EBIT) of CHF 16.0 million for the year. The 2015 Ordinary General Meeting will be asked to approve an unchanged capital repayment from the capital contribution reserve of CHF 13.00 per share, along with a 20-for-1 stock split. With lower paper prices and the abolition of the minimum euro exchange rate, CPH expects to post a negative operating result for 2015.
Two new Board members for CPH
Kaspar W. Kelterborn and Manuel Werder are to be proposed for election to the Board of Directors of CPH Chemie + Papier Holding AG at the company’s 2015 Annual General Meeting. The nominees would succeed Hanspeter Balmer, who relinquished his seat this summer, and Max Walter, who will not be standing for re- election for age reasons.
Interim Results 2014: CPH returns to profit
The CPH Group generated net sales of CHF 242.9 million in the first six months of 2014. The net sales result, which is broadly in line with prior-year levels, was achieved in a challenging business environment. Thanks to further efficiency enhancements and a lower depreciation base, group first-half EBIT was improved by CHF 22.9 million to a positive CHF 9.3 million. CPH also successfully issued its first-ever Swiss-franc bond.
Hanspeter Balmer steps down from the CPH Board of Directors
Hanspeter Balmer is relinquishing his mandate on the Board of Directors of CPH Chemie + Papier Holding AG in mid-term for health reasons.
CPH issues its first CHF bond
CPH Chemie + Papier Holding AG (CPHN) is issuing its first-ever Swiss-franc corporate bond on the Swiss capital market. The CHF 120 million bond carries a coupon of 2,75 %.
CPH well on track in 2014 to date
CPH Chemie + Papier Holding AG (CPHN), the holding company of the CPH Group, returned to profit in the first five months of the current business year.
Perlen Packaging wins ASCO Award
Perlen Packaging, the packaging division of the CPH Group, has earned the Silver ASCO Award for 2014 for its successful implementation of its transformation strategy.
CPH Group expanding to China
Perlen Packaging, the packaging division of CPH Chemie + Papier Holding AG, is to establish a new film coating production facility in China. The new plant will commence operations in 2016, and should provide further impetus for the present growth in the Asian pharmaceuticals market.
Business Year 2013: CPH makes impairment to realign its balance sheet to a difficult market environment
The CPH Group faced another challenging market environment in 2013 in operational terms. The Group generated net sales of CHF 481.3 million and achieved consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) of CHF 30.9 million for the year. As already communicated at the beginning of 2014, the radically- changed market environment has prompted the Group to effect a CHF 250.9 million impairment to tangible fixed assets. Earnings before interest and taxes (EBIT) declined accordingly to CHF –277.6 million, and the net result for the year to CHF –271.5 million. Even after the impairment, however, the CPH Group remains in sound financial health with a balance sheet equity ratio of 64%.
CPH-group: Resumption of the LWC production at the paper machine 4 in Perlen
Perlen – After the fire end of October 2013 at the winder of the LWC line, the production of PM4 at Perlen Papier AG has been successfully resumed on December 19th.
CPH’s 2013 sales depressed by persistent pricing pressures
Despite increasing its product volumes sold, the CPH Group saw its net annual sales decline to CHF 481.1 million for 2013, 1.6% down from the previous year. In view of the significant changes in the market environment over the past few years (particularly in the Paper and Silicate Chemistry Divisions), CPH is to reassess – with a view to possible impairments – the values of its tangible fixed assets in Switzerland.
CPH-Gruppe: Auswirkungen auf den Geschäftsgang aus dem Brand am Rollenschneider der Papiermaschine 4
Am Dienstag, 29. Oktober 2013, wurde der Rollenschneider der Papiermaschine 4 durch einen Brand beschädigt. Die Produktion von Magazin-papieren an der Papiermaschine 4 musste in der Folge eingestellt werden. Die Auswirkungen des Brandes werden das Jahresergebnis 2013 der CPH-Gruppe auf Stufe EBIT mit ca. 2,5 – 5,0 Mio. belasten.
CPH Group: Fire at the winder of PM4 paper machine
Perlen – Paper manufacturer Perlen Papier AG experienced a fire yesterday evening at the winder of its PM4 machine. The fire occurred at around 21:30 local time. It was brought swiftly under control, thanks to the fire services’ prompt response. There were no injuries.
Perlen Papier to switch to free electricity market from 2014
Paper manufacturer Perlen Papier AG, which is a fully-owned subsidiary of CPH Chemie + Papier Holding AG (SIX: CPHN), is to procure the power required in its production operations from the free electricity market from 2014 onwards. To this end, Perlen Papier has concluded a contractual agreement with Centralschweizerische Kraftwerke AG (CKW) which will ensure the structured procurement of all the electricity required, together with further advisory services.
Interim Results 2013: Further paper price erosion depresses CPH Group results
The CPH Group achieved consolidated net sales of CHF 245.0 million for the first six months of 2013, only minimally below the CHF 245.2 million of the prior-year period. But with further falls in paper sales prices and increased energy costs, Group EBIT for the first half of the year declined from the CHF -8.0 million of 2012 to CHF -13.6 million, while the net result for the period amounted to CHF -16.5 million.
Business Year 2012: A sound performance in a difficult market environment
The CPH Group generated net sales from continued operations of CHF 487.9 million for 2012, a 1.2% increase on the previous year that was achieved in a difficult business environment. Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) were raised 1.9% to CHF 38.5 million. Consolidated earnings before interest and taxes (EBIT) were a 7.7% improvement on 2011, but remained clearly negative at CHF -21.8 million. The net result for the year was improved to a profit of CHF 8.1 million, thanks to non-recurring items. The Board of Directors will recommend the distribution of an unchanged dividend of CHF 13.00 per share.
CPH reports slight rise in net sales from continued operations
The CPH Group generated net sales from its continued operations of CHF 487.9 million for 2012, a slight 1.2% increase on the previous year. The prior-year total net sales of CHF 520.9 million included CHF 39 million of sales from the Group’s fine chemistry operations which were sold at the end of 2011. All three of the CPH Group’s divisions further increased their market share, though consolidated Group EBIT remained negative for the year.
You can register here to automatically receive future CPH communications.
Thank you for your interest!