The company succeeded in increasing its previous year’s sales from continuing operations in local currency by 11%. Negative currency effects and a divestment in the non-core business reduced the growth rate to 3.9%. Sales therefore rose from CHF 732 million to CHF 760 million. The EBIT was up 1.6% from CHF 83.9 million in 2007 to CHF 85.3 million representing a new historical high. This figure includes one-time gains of CHF 8 million (CHF 5.5 million in the previous year), resulting predominantly from the sale of the BERKOL business unit. But even discounting these one-time gains, HUBER+SUHNER achieved a double-digit EBIT margin for the third time in succession.

Order intake was, however, down in the fourth quarter and for this reason the prior year amount could not be matched. It fell by 3.6% to CHF 755 million (CHF 784 million in the previous year). During the reporting year, consolidated profits amounted to CHF 60.2 million (previous year CHF 78.8 million). Whereas currency gains of CHF 5.3 million were recorded in the previous year, 2008 saw a high net currency loss of CHF 17 million due to the strength of the Swiss franc. The equity ratio of 76.6%, considering the balance sheet total of CHF 601 million and net liquidity of CHF 139 million are proof that HUBER+SUHNER’s financial situation is extremely solid, allowing the Group to pursue its strategy on own momentum. The Board of Directors proposes to the shareholders at the general assembly the distribution of a gross dividend of CHF 1.00 per share for 2008 (2007: CHF 1.25).