In its 2013/14 financial year (ending 30 April 2014), the Infranor Group, a specialist in robotised automation, matched the results of the previous financial year. Sales rose slightly to 43.2 million CHF (as against 42.7 million CHF a year ago) and its net profit remained stable at 1.0 million CHF (1.2 million CHF on 30 April 2013). The annual report 2013/14 will be published on 21 August 2014. Zurich-based Infranor Inter Ltd. intends to merge with Perrot Duval Holding Ltd., its main shareholder, at the next Annual Shareholders' Meeting. Details of this transaction are expected to be announced on 24 September 2014 and the consequence thereof is the postponement of the Annual Shareholders' Meeting from 12 September 2014 to 27 October 2014.

Apart from a slight decline in the North American market, the level of its sales in all territories either remained stable or increased. However, the gross margin fell due to a lower contribution margin of major customers on the one hand, and because of a higher proportion of direct sales by the production companies on the other hand. Operating expenses, including depreciation and amortisation of 1.3 million CHF, remained at the same level as that in the previous year, 22.1 million CHF. The EBIT margin thus stood at 2.6 million CHF, representing 5.9% of total consolidated sales (6.8% for the previous year).

Financial expenses (1.1 million CHF) and net debt (13.8 million CHF) remained stable following the acquisition of new credit lines from banks for the development and production companies in order to address the growth in business.

Infranor Inter Ltd. plans to merge with Perrot Duval Holding Ltd., its main shareholder. Such a move would help to adjust and simplify the structures, increase the liquidity of the listed shares and reduce costs.

As the preparation of this transaction will take some additional time, the Shareholders' Meeting is postponed from 12 September 2014 to 27 October 2014; this allows resolving upon this agenda item at the Annual Shareholders' Meeting.

The company will provide definitive figures and detailed information on the 2013/14 financial year as well as comments on ongoing business developments during its presentation of the balance sheet on 21 August 2014.



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