25 Aug 2006
Half year interim report 2006
Spirt Avert AG achieves increased net sales and order intake
Spirt Avert AG – the former Nextrom Holding SA - has finalised its restructuring process. A vast network of international branches, subsidiaries and representative offices were either closed or left with former shareholders. Loss making units have no longer any substantial material effects on the bottom line of Spirt Avert.
Management’s commitment not only focuses on the fast-growing industrial activities in China. Even higher priority is given to adding new life to the listed vehicle called Spirt Avert.
The Board has reason to believe that details of a substantial capital increase can be reported in the month of September 2006.
During the first half of 2006, Spirt Avert continued to develop its industrial activities in Shanghai. Revenues for manufacturing services rose more than fivefold to CHF 3.7 million (continued operations; end of June 2005: CHF 0.6 million).
Spirt Avert received new orders worth CHF 2.6 million during the first 6 months of 2006 (continued operations; first 6 months 2005: CHF 0.9 million). The order backlog amounted to CHF 2.3 million at the end of June 2006 (continued operations; end of June 2005: CHF 0.9 million). The operating loss of the continued operations for the first six months decreased to CHF 1.1 million (loss from continued operations; end of June 2005: CHF 6.4 million).
As shown in the above-mentioned figures, Spirt Avert has made further progress in focusing on profitability for the continued operations. In a short time span, the new management under the lead of CEO Jürg Leupp has achieved an efficient cost reduction program. Lean processes were introduced and the sales team was able to acquire orders for manufacturing services. As a result, the Chinese operation has won new clients, mainly highly reputed European entities.
For further information please contact:
Mr. Lorenzo Schmid, Chairman of the Board
Phone +41 41 368 98 38
lorenzo.schmid@mindsetholding.ch
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