Cham Paper Group Holding AG reported group earnings results for the year 2011. In 2011 the Cham Paper Group achieved net revenues of CHF 309.3 million. This corresponds to a decrease of 8.9% as compared to 2010, or 2.4% when adjusted for currency effects. The group's operating loss of CHF 8.1 million is a reflection of the difficult situation in which the Group found itself in the autumn of 2011. Nevertheless, due to stringent inventory management the group still achieved a positive operational free cash flow of CHF 4.8 million. The company provided group earnings guidance for the year 2012. The group should return to operating in the black in the course of 2012 if the economy remains stable. With the planned rezoning of the factory grounds in Cham, substantial added value is to be created for the company in the medium term.