First half of 2020 – summary

Due to a range of organisational, financial and market-oriented measures, the HOCHDORF Group’s business position continues to stabilise. The half-yearly results were slightly better than expected.

The HOCHDORF Group processed 187.9 million kg of milk, whey, cream etc. in Switzerland (previous year 221.6 million kg) and sold 46,357 tonnes of products (previous year 86,661 tonnes). This resulted in net sales revenue of CHF 158.3 million (previous year 242.9 million) and a positive EBITDA of CHF 5.0 million. Overall HOCHDORF posted negative company results of CHF −4.1 million.

The HOCHDORF Group has continued to work on the restructuring measures introduced in the summer of 2019. Important market-oriented and optimisation projects were launched and developed despite the restrictions imposed by the coronavirus pandemic. The first delivery of Bimbosan infant formula to Vietnam was a significant milestone. The business relationship with Pharmalys has been stabilised.

The continued successful implementation of market-oriented and optimisation projects forms the basis for achieving our sales and revenue objectives. We continue to expect net sales revenue in the range of CHF 280 – 320 million and a positive EBITDA result.