Schaffner Group with improved profitability in second half of 2019/20

Media Release

Schaffner Group with improved profitability in second half of 2019/20

Luterbach, Switzerland, 4 November 2020 – In the second half of fiscal 2019/20, which ended on September 30, 2020, the Schaffner Group maintained sales at the level of the first half of the year despite negative Covid-19 impacts. Against the backdrop of the challenging economic environment, the company had initiated immediate cost-saving measures, as reported at half-year. Schaffner therefore expects a substantial improvement in profitability in the second half of 2019/20. For the full year, however, Schaffner expects a significantly lower operating result than in the previous year. The Schaffner Group will provide detailed information on its business performance and financial results for fiscal 2019/20 at a virtual media and analysts' conference on December 8, 2020.

Due to the worsening Covid 19 situation in Switzerland, the Board of Directors of Schaffner Holding AG – based on Article 27 of the Federal Council Ordination 3 on Measures to Combat the Coronavirus – has decided that the Annual General Meeting on January 12, 2021 will be held without the physical participation of shareholders. Shareholders may only exercise their rights by authorizing the independent proxy. The Board of Directors thanks the shareholders of Schaffner Holding AG for their understanding.

Contact

Schaffner Holding AG, Investor Relations and Media Office: c/o Dynamics Group, Zurich

Thomas Balmer, +41 43 268 32 34 or +41 79 703 87 28

investor-relations@schaffner.com

Financial calendar

8 December 2020

12 January 2021

6 May 2021

Publication of annual results 2019/20

25th Annual General Meeting

Publication of half-year results 2020/21

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