Brügg, August 28th, 2012 – The Biella Group - together with the Falken-Group acquired as of March 30th 2012 – is one of the most important and most powerful European manufacturers of office products. As a consequence group turnover has significantly increased by 24% in the first half year of 2012. The development of results is - despite im-provements of EBIT in the first semester – still influenced by high start-up expenses for the integration of the Falken-Group. Furthermore – already announced – price increases in raw materials and a slowing down economy will continue to strain results for the rest of the year. Therefore it is impossible to give a reliable forecast for the full year 2012 at this time.

The acquisition of the Falken-Group is clearly reflected in the turnover figures of the first half of the year. With CHF 78.3 million (2011: CHF 63.3 million) sales revenue significantly exceeded last year’s figures. It is encouraging that turnover was up 3% even after adjustment of acquisition-related growth and currency effects. This growth is still mainly carried by the expansion in the strategic markets of Central Europe and increased business with international key accounts. On the other hand overall economic factors as result of the debt crisis noticeably slowed down turnover development in the non-central European countries. 

As of June 30th 2012 the operating result (EBIT) of the Biella Group was CHF minus 2.9 million (previous year: CHF minus 3.3 million). This improvement was achieved despite of price increases in raw material in the first half of 2012, which couldn't been totally passed on to customers as well as high integration costs for Falken, which are according to plan. The projects to improve efficiency in the production sites as well as in all sourcing and supply chain processes have a first impact and are positively reflected in the financial figures. Consolidated net income for the first six months was with CHF minus 2.9 million on last year's level (CHF minus 2.9 million). This is mainly influenced by the financial results which were lower this year due to a positive one-time effect in 2011.

When evaluating the half-year results one should be aware of the seasonality effects. Traditionally results are rather poor in the first six months, substantially improving during the strong months August to December. The merger with Falken will further increase this seasonality effect due to Falken’s product mix and type of business, which is even more focused on the classic year-end business.

The balance sheet of the Biella Group has significantly changed due to the acquisition of Falken. The integration of Falken has led to an increase of total assets by 15.4% to CHF 141.9 million. Despite the financing of the acquisition and set off of the goodwill the equity ratio remains with 55,6% (previous year: 71,6%) at a very high level.

In spite of the generally good performance in the first half of 2012 the – already announced – price increases in raw materials and a slowing down economy give causes for concern. There-fore it is impossible to give a reliable forecast for the full year 2012 at this time. 

Biella Group – with the acquisition of the Falcon Group one of Europe’s most important and powerful supplier of office products – runs production sites in Germany, Switzerland, Hungary, Poland, Romania and the UK, has logistics-centres in Brügg / Biel (CH), Wiener Neustadt (AT), Warsaw (PL) and Enkhuizen (NL) and a distribution network all over Europe. The Group employs on an annual average app. 1.100 employees.

The Biella-Neher Holding Ltd. is listed on the Berne Stock Exchange BX Berne eXchange (symbol: BLLN, Security: 151948s, ISIN: CH0001519484).

In case of any questions or requests please contact:
Biella Group
Biella-Neher Holding Ltd.
Erlenstrasse 44, P.O. Box
Group management administration
CH-2555 Brügg
Tel.: +41 32 366 3 404 or 251
E-Mail: communications[at]biella.eu