sia Group grows 8%-10% in the current year (17/11/2006)
sia Abrasives to miss sales target of CHF 300 million!?
According to management, sia Abrasives expects to distinctly beat its sales tar-get of 4%-6% with 8%-10% revenue growth for 2006. Allegations in various media that the sales target would be missed are untrue.
sia Abrasives’ sales forecast and thus growth target for 2006 has always been put in a range of 4%-6%. Sales revenue generated by the global coated abrasives Group is currently 8%-10% above last year’s sales level. This clearly beats the sales targets set by the company itself.
Allegations in various electronic and print media that the sia Group would miss its sales target for the current year because sales revenue would not reach CHF 300 million are therefore untrue. A sales figure of CHF 300 million has always been mentioned in con-nection with the medium-term planning, which is based on acquisitions that have not yet been completed, however. It is incorrect to link or equate the figure of CHF 300 million to the sales target for the current year as this figure does not represent the guid-ance announced by the company.
The sia Group’s management expects sales for 2006 to be between 8% and 10% higher than last year. This significantly beats the 4%-6% target announced by the com-pany. The financial analysts’ consensus growth for this year is CHF 286 million, which represents an increase of 9%.
The sia Group based in Frauenfeld ranks among the world’s top three suppliers of coated abrasives. It develops, manufactures and markets complete abrasive systems tailored to specific requirements and applications for surface preparation and finishing of all kinds. This commitment has made sanding and grinding into true surface technologies. Employing some 1,100 people worldwide, sia Abrasives posted net sales of CHF 261.4 million and operating profit (EBITDA) of CHF 40.5 million for 2005. sia Abrasives Holding AG is listed on SWX Swiss Exchange and generates more than 90% of its sales outside Switzerland.
Financial calendar
23 March 2007, 9 a.m. Annual press conference at SWX Swiss Exchange in Zurich 23 March 2007, 11 a.m. Analyst conference at SWX Swiss Exchange in Zurich 24 April 2007, 4 p.m. Annual General Meeting of Shareholders at Frauenfeld Stadtcasino 30 April 2007 Dividend payment
For further information
Peter A. Schifferle, CEO and Executive Director Gerhard Mahrle, CFO and Investor Relations Phone: +41 52 724 45 75 Fax: +41 52 724 45 70 E-mail: ir@sia-abrasives.com Internet: http://www.sia-abrasives.com/
® Correct nomenclature for sia Abrasives Holding AG
As there are other companies and organizations that use the same abbreviation as our company, we would be grateful if you could help to avoid any misunderstandings by always writing our name as follows: sia Abrasives (never just sia by itself).
News 