euro adhoc: Calida Holding AG / Financial Figures/Balance Sheet / 2006: Calida posts good operating results Integration and restructuring of Aubade completed

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Company Information

27.03.2007

The 2006 financial year for the SWX Swiss Exchange-listed Calida
Group was significant on the one hand for its operating results, on
the other hand for the integration and restructuring of Aubade, the
French luxury lingerie manufacturer. The company posted a 25.2
percent increase in sales year on year to CHF 221.3 million (2.9
percent adjusted for acquisition). Operating profit (EBIT) increased
by 60.4 per cent before non-recurring costs to CHF 17.8 million.
Despite non-recurring integration-related costs of CHF 11.8 million,
annual profit was down by only CHF 1.7 million year on year to CHF
6.1 million. The dividend is to remain unchanged at CHF 5 per share.

"We are proud that the Calida Group has succeeded in improving its
operating results in the year under review for the fifth time in
succession despite the continuing difficult market environment," says
Felix Sulzberger, CEO of the Calida Group. "The integration and
necessary restructuring of our acquisition was, as anticipated, a
demanding exercise, but was nevertheless completed on schedule in
March of this year.

Above-average growth

The improvement in operating results in the year under review was
reflected in the group sales of CHF 221.3 million, 25.2 per cent up
on the previous year. Adjusted for the acquisition, growth was 2.9
percent. The Calida brand alone increased revenues by an
above-average 4.8 percent.

This positive trend led to a 60.4 percent increase in operating
profit (EBIT) of CHF 17.8 million. The integration and restructuring
of Aubade resulted in exceptional costs for the year under review of
CHF 11.8 million. This means that all the known and foreseeable costs
associated with the Aubade acquisition have already been provided for
in the 2006 financial year.

These non-recurring costs impacted the 2006 annual results.
Nevertheless, the company posted an annual profit of CHF 6.1 million,
only CHF 1.7 million down on the previous year.

Due to the satisfactory operating situation the Board of Directors
will propose to the General Meeting of Shareholders on May 2, 2007
that the dividend remain unchanged at CHF 5 per share.

Net debt in the year under review was reduced from CHF 9.6 million to
CHF 2.1 million. The equity ratio is a solid 58.9 percent (previous
year: 59.3 percent). The strong cash flow and sound earnings will
enable us to finance planned investments in expansion of the retail
business and internationalisation over the next few years from our
own funds.

Brand positioning upgraded

The systematic upgrading of Calida’s brand positioning is proving
successful. The year under review saw the development of the upmarket
Emotion range, which will come into the shops in the course of 2007.
The average value per Calida article is now 15 percent higher than
three years ago with no price increases.

With the acquisition of Aubade the Calida Group has also entered the
higher margin upmarket and luxury segment of the market. Outsourcing
of production has continued; at Calida internal manufacturing still
accounted for some 25 percent in the year under review, for Aubade
the figure was 65 percent.

Reinforcing of Aubade

After completion of the Aubade acquisition comprehensive structural,
staffing and administrative measures were unavoidable in order to
ensure sustained earnings power.

The intensive negotiations with social partners were concluded in
mid-February 2007. Relocation of the sewing activities, which had
resulted in the redundancy of 140 jobs in France, was completed in
mid-March 2007.

Growth as a strategic target

After completion of the Aubade integration in the year under review,
new measures will be taken as part of the long-term corporate
strategy to boost profitable growth for Calida. Priority in this task
will be given to expanding the network of Calida and Aubade stores,
speeding up the development of international markets.

The restructuring project in France has been completed. The earnings
situation for Aubade will stabilise. Slight growth is forecasted for
Calida. The Group's earnings position will continue to improve in
2007.

The annual report will be available from 12 noon on 27 March 2007 at
www.calida.com / Investor Relations / Financial Reports.

end of announcement euro adhoc 27.03.2007 07:00:00
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ots Originaltext: Calida
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Felix Sulzberger, CEO
Tel: 0041 (0)41 925 42 48

Branche: Textiles & Clothing
ISIN: CH0009018133
WKN: 9018133
Index: SPI, SPIEX
Börsen: SWX Swiss Exchange / official market


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