Carlo Gavazzi: improvement of all key figures

Carlo Gavazzi Holding AG /
Carlo Gavazzi: improvement of all key figures
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Steinhausen,  November  23, 2010 -  Market  conditions  in all regions served by
Carlo Gavazzi improved substantially in the reporting period. As a result of the
increased  demand from customers  and the launch  of new products, the Zug-based
electronics  group achieved a strong result in the first semester of the current
financial  year ended September  30, 2010. Compared with the  same period of the
previous  period, bookings rose by 50% to CHF 108.9 million and revenues by 29%
to  CHF 90.8 million,  As a  consequence of  the revenue increase, EBIT improved
from  CHF 3.4 million  to CHF  11.1 million, reaching  12.2% (versus 4.8% in the
previous  period) of revenue,  and net income  rose from CHF  1.6 million to CHF
7.5 million.
These  positive results,  reported in  Swiss francs,  were achieved  despite the
negative  currency effect which impacted revenue,  EBIT and net income by around
10%.
As  of today, it is  difficult to assess whether  the favorable economic climate
experienced  in the first half-year will persist in the second semester. For the
full  year, the group remains cautiously optimistic and is determined to achieve
a financial performance well above the one of the previous year.
 
Carlo Gavazzi has changed the group's accounting principles from US-GAAP to IFRS
starting  with the current financial year.  The Interim Report, available on the
group's  website,  reflects  the  impact  of  these changes and includes all the
details in its financial section.
 
Please  click on the  link below to  access the full  2010 Interim Report of the
Carlo Gavazzi Group.
http://www.carlogavazzi.com/en/investors/interim-report.html
 
About Carlo Gavazzi:
Carlo Gavazzi is a publicly quoted (SIX: GAV) international electronics group
with activities in the design and marketing of electronic control components for
factory and building automation.
 
Please visit our website: www.carlogavazzi.com
 
For further information please contact:
Felix Stöcklin
Head of Corporate Communications
Carlo Gavazzi Holding AG
Phone   +41 41 747 45 26
E-Mail  felix.stoecklin@carlogavazzi.ch
 
Please note that as announced earlier, Felix Stöcklin will retire at the end of
2010. As per January 1, 2011, contact:
Rolf Schläpfer, Hirzel. Neef. Schmid. Konsulenten
Phone   +41 43 344 42 42
E-Mail  rolf.schlaepfer@konsulenten.ch
 
[HUG#1464676]
 
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Carlo Gavazzi Holding AG
PO Box 152 Steinhausen null
 
ISIN: CH0011003594;
 
Press release (PDF) : 
http://hugin.info/100205/R/1464676/403075.pdf
 
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Source: Carlo Gavazzi Holding AG via Thomson Reuters ONE