Looser Holding AG: Net revenues after acquisition-related and currency adjustments grew by 2.7 percent

As of 30 September 2011, net revenues of Looser Holding headquartered in Arbon (Switzerland) amounted to 344.5 million Swiss francs (prior year: 363.3 million Swiss francs). Compared to the previous year, this corresponds to a decline by 5.2 percent. After adjustments for currency effects – mainly as a result of the continuously negative development of the Euro and U.S. dollar – as well as acquisition-related effects, the Looser Group's net revenues grew by 2.7 percent against the previous year.

The operating result (EBITDA) rose by 5.3 percent to 50.8 million Swiss francs (prior year: 48.2 million Swiss francs). The operating result did not remain unaffected by the depreciation of the Euro and U.S. dollar against the Swiss franc. In the first nine months, this resulted in a currency-related decline in EBITDA by about 6.0 million Swiss francs. The decline in revenues and the weaker operating result in the Coatings segment also had a negative impact. After adjustments for currency effects, acquisition-related effects and gains realized in connection with the sale of operating premises and the disposal of the building protection business (positive non-recurrent effects of 9.2 million Swiss francs), the operating result would have amounted to 47.0 million Swiss francs (prior year: 48.2 million Swiss francs).

The Looser Group's consolidated net income grew markedly by 21.6 percent against the prior year period to 24.3 million Swiss francs (prior year: 19.9 million Swiss francs). The equity ratio rose from 38.1 percent as of the end of 2010 to 39.9 percent as of 30 September 2011.

Net debt rose against the financial year 2010 by 18.5 million Swiss francs to 133.4 million Swiss francs. This increase was mainly based on the outflow of funds in connection with acquisitions, the buyout of minority interests and the distribution of dividends. On the other hand, the Group generated extraordinary proceeds aggregating 13.9 million Swiss francs from the disposal of operating premises and the building protection business.

Business Divisions
The four segments Coatings, Industrial Services, Temperature Control and Doors largely recorded a positive development in the third quarter 2011. The Doors segment reported a marked growth after currency adjustments by 9.1 percent and the Industrial Services segment experienced an increase after currency adjustments by 0.8 percent. The Temperature Control segment grew by 6.6 percent (after currency adjustments) against the prior year. A decline by 3.2 percent in revenues after acquisition-related and currency adjustments was experienced in the Coatings segment due to uncertainties in the sales markets as well as weak sales in the parquet and laminate business in Asia, Europe and the U.S.A. Furthermore, the Coatings segment was affected by increasingly rising prices for and the scarcity of raw materials.

Outlook
Due to volatile financial markets and the debt situation in Europe and the U.S.A. as well as their impact on our markets, it is difficult to make a prognosis for the future. Management anticipates uncertain economic conditions as well as a continuously strained currency situation in subsequent quarters. Based on the information presently available, the operating result (EBITDA) and consolidated net income for the full financial year 2011 (including positive non-recurrent effects of 9.2 million Swiss francs) will significantly surpass the prior year figures.

Contact
Looser Holding AG Grabenstrasse 4 9320 Arbon Tel. 071 447 20 80 Fax 071 447 20 81 info@looserholding.com