Continued depressed economic environment leads to strongly reduced gross sales (CHF 103.0 million) and earnings (EAT CHF -7.2 million) in the first half-year of 2009 but Swissmetal further improves its cost position and cash flows

Dornach, 14 August 2009

In the first six months of 2009, Swissmetal has generated consolidated gross sales of CHF 103.0 million. The decrease of CHF 78.3 million or 43% compared to the first half-year of 2008 can be principally explained by the downturn of the economic situation.

The gross margin stood at CHF 43.2 million, which is CHF 24.4 million or 36% less than the same period 2008. The gross margin lags behind to a lesser extent due to  higher metal prices in the previous year.

Swissmetal has continually optimized its cost structure in the first six months of 2009. The average operating expenses could be reduced by 40% between the 1^st and the 2^nd

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