The Wipf Group is on a stable course
The report year 2019/2020 was replete with challenges. After years of growth, the Wipf Group had to absorb a revenue decline by 5 % to CHF 169 million (PY CHF 179 million) in the year under review.
The Covid-19 crisis impacted the Wipf Group’s sales and profits. One positive factor is the EBITDA trend which despite the difficult economic situation stabilised. Net income of the Wipf Group closed slightly lower than a year ago. The operating result was again burdened by advertising market-dependent acquisitions transacted in earlier financial years as well as by foreign investments that suffered from the Corona-related decline in orders from Chinese customers. Goodwill writeoffs on prior-year acquisitions encumbered the result. Investments in fixed assets remained high at CHF 10.9 million (PY CHF 10.6 million) and were wholly financed internally thanks to high cash flows from operating activities. Despite a new acquisition, net financial assets increased in the year under review. The equity ratio closed at a solid 55.3 %. The new acquisition relates to the Karten4you online portal in the Business-to-Consumer market that is now integrated in Elco AG.
The following division reports provide insights into our different business segments “Flexible Packaging”, “Envelopes & Stationery”, “Direct Marketing”, and "Digital Services".