Annual report

Wipf Group performs well despite difficult circumstances

Last year was characterised by a multitude of challenges. Ongoing supply chain issues, as well as the volatile cost of raw materials and the uncertainty surrounding their availability, led to continually high stock levels. The greatest challenge we face as a business is ensuring that our ability to supply remains unwavering across all the Group’s locations. Our main priority is to serve our customers reliably and to our usual high standard of quality.

We interact with our environment in a myriad of ways and are constantly required to navigate changes, whether that be because of developments in the market, technological innovations, legislative amendments or changes in the supply of labour. To ensure our success in the market, we adopt appropriate adjustment strategies to meet challenges. For example, flexibility has become increasingly important in recent years and has been instrumental in our success. This means being able to respond swiftly to changes and to external events. Innovations and new technologies play an essential role here, along with the outstanding commitment and agility of our workforce. 

Review of the 2022/2023 financial year
Group turnover increased to CHF 182 million (previous year: CHF 174 million). EBITDA was particularly positive, despite the difficult economic circumstances. The Wipf Group posted a slightly lower annual result. Investments dependent on the advertising and print market and goodwill write-offs once again impacted the operating result negatively. Investments in fixed assets amounted to CHF 7.5 million (previous year: CHF 5.4 million) and were wholly financed internally thanks to high cash flows from operating activities. The equity ratio increased to a healthy level. The head count declined slightly to 569 employees (previous year: 570).

Outlook for the 2023/2024 financial year
To prevent supply bottlenecks, we raised our purchased stock levels. In parallel with this, our customers reduced their high levels of purchased stock slightly by easing back their procurement, resulting in the lower order intake seen over the last few months. The decrease in incoming orders from Europe (especially Germany) is one of the key aspects that will make itself felt on our capacity utilisation and turnover in the coming months.

Our foreign investment RC-Film Co. Ltd. in Thailand (a 50/50 joint venture) continued its growth trajectory. RC-Film Co. Ltd. posted another positive result, leaving us optimistic about the future and also further investments.

Further information on fiscal year 2022/2023 can be found in our Annual Report.

Wipf Holding AG | Wildischachenstrasse 30 | 5200 Brugg | Switzerland |