EQS-News: Research Dynamics: Report on CPH Chemie + Papier Holding: FY2020 earnings update Report on CPH: FY2020 earnings update 25.02.2021 / 07:13 Diversification helped tide over adversities Sound operating performance amidst a harsh environment CPH reported a sound operating performance for FY2020, which otherwise was marked by the Covid-19 induced economic slump. Group net sales in FY2020 declined by 15.1% YoY to CHF 445.2mn (-10.7% excluding currency impact). The diversified nature of the businesses aided the company to offset significant losses at the Paper division. EBITDA declined by 37% YoY to CHF 55mn. Rigorous cost reduction programs and productivity improvement measures averted a considerable drop in the EBITDA. Lower energy and raw material costs (in the Paper and Packaging Divisions) also helped in mitigating the decline. Group EBIT declined by 56% YoY to CHF 24.7mn (FY2019: CHF 56.6mn), the corresponding margin compressing to 5.5% (10.8%). However, net profit attributable to shareholders declined by only 3.1% to CHF 47.0mn. Reasons for this is include an extraordinary income of CHF 12.0mn, which is attributable to the release of provisions for clean-up works required at the Chemistry Division's former Uetikon operating site, non-operating income of 6.8mn resulting from the sale of real estate (CHF 5.2mn) and the release of provision for the Rotholz site (CHF 2.0mn) as well as positive income taxes (CHF +8.1mn) thanks to tax loss-carry forwards (CHF 11.9mn).