Georg Fischer continues to grow; Result marred by provisions at GF Automotive

The industrial corporation Georg Fischer generated sales of CHF 4.5 billion in 2007, which represents an increase of 11% over the previous year. Order intake also increased compared with the previous year, up 9% to CHF 4.6 billion. This growth, to which all three Corporate Groups contributed, is due to success in the markets, with support from a predominantly favourable economic environment and on the whole slightly positive exchange rates.

The Corporation's operating profit EBIT will be at about the same level as in the previous year. The stagnation in earnings can be put down mainly to start-up problems with new products at the GF Automotive plant in Herzogenburg, Austria. This led to operating losses towards the end of the year. The problems will only be resolved in the course of the coming months. It is therefore necessary to make adequate provisions in the financial statements for 2007. Net income for 2007 will be slightly lower than for 2006.


The Annual Report 2007 will be published on 26 February 2008 at 7:00 a.m.