2007 sees LISTA record best ever results

The LISTA Group can look back on an extremely successful and eventful year 2007. This was the first full year under the new ownership and man-agement structure and turnover increased by 17% to a record CHF 283 million. The consolidated operative result (EBITA) also registered a signifi-cant increase rising to CHF 32 million, approximately 52% on the previous year’s figure of CHF 21 million. The strong increase is the result of the dynamic ongoing development of the business following the management buyout, the excellent market position of LISTA as a leading manufacturer of high-grade workshop equipment and the successful emphasis on achiev-ing the highest standards of product quality. And, not least, the LISTA Group has profited from a sound economic environment which has posi-tively influenced sales especially in Europe.

It is particularly pleasing that the result is based on good growth right across the entire Group. In North America, where LISTA has its own production operation near Boston and generates approximately one-third of the Group’s turnover, sales rose by 7% over the year despite increasingly exacting underlying economic conditions. The European companies, with production sites in Switzerland, Germany and Italy, exhibited even bet-ter performance with growth at 22%. Adjusted for the additional turnover from the acquisition of Thur Metall AG, the organisation growth in Europe and for the Group as a whole was 16% and 13% respectively. In conjunction with the improvement in turn-over, operational profitability recorded an above-average increase. In Germany, in par-ticular, it was possible to achieve sales amounting to approximately CHF 10 million in low-margin retailed products over and above the core business relating to internally-manufactured products.

Against this background of impressive growth, the LISTA Group has made significant investment for long-term continued growth of the business and on behalf of its em-ployees. In the past twelve months alone over CHF 8 million was invested in the ex-pansion of production sites, the development of new products or for corporate acqui-sitions. Planned investment for the current year will be greatly increased to approxi-mately CHF 15 million in order to create a solid basis for future targeted growth.

As a sign of its recognition of the excellent performance on the part of the workforce, the Board of Directors agreed a commensurately above-average salary adjustment. Individual salary adjustments were only approved in exceptional cases for higher wage earners and board members. This salary revision puts LISTA in the upper stratum of Swiss industrial companies to award employees extremely attractive salary increases.

The number of employees increased from 820 to around 910 over the year.

2007 was not only an extremely successful year for the LISTA Group, it was a quite eventful one too. Following the succession arrangement completed in 2006 (which saw the investment company, Capvis, acquire the majority of shares from the entrepreneur, Fredy Lienhard) the business underwent a strategic reorientation over the following year under the new management of Dr. Alexander Krebs, Chairman of the Board, and Fred Gamper, CEO. The focus of business activity was placed upon the manufacture of high-quality drawer cabinets (the historical core products of the enterprise) and on the production of complementary workshop equipment. This saw the product range expand to include the clear-cut and ex-stock deliverable LISTA Selection product line alongside our established customer-specific configured products. These product innovations were very positively received by the market and give good reason to believe that future de-velopment will remain good. Numerous other product innovations are planned for the current year. The management and Board have been strategically strengthened with additional proven experts to help manage the various measures that are planned. At the same time a broad share program was introduced enabling 50 members of man-agement and the Board in Europe and North America to acquire a direct stake in the equity capital of the business.

A further important strategic step was taken in June of last year with the acquisition by LISTA of Thur Metall AG. Based in Engwilen TG, Thur Metall has been manufacturing workshop and storage equipment for over half a century now. These products are made to satisfy the individual requirements of customers consisting mainly of stockists and specialist retailers throughout Europe. The Company also markets products under its own well-established name forming a centre of excellence within the LISTA Group for made-to-measure customised solutions and limited series.

In the current year the LISTA Group is planning for growth to continue at a similarly high level. This will be based on the additional expansion of our own product lines and the introduction of drawer cabinet systems with load capacities under 50 kg to pre-cisely meet the requirements of service sector customers, business customers or those in the home and hobby segment. Furthermore, we are planning to greatly increase the market penetration of the large European markets (Germany, France, Italy, England and Spain) by the systematic expansion of distribution channels to selected wholesale as-sociations. It is conceivable that there will also be further acquisitions within the terms of the defined strategy.

The LISTA Group is facing the future confidently despite a steadily cooling economic climate. Taking the successful year of 2007 as its basis and thanks to our skilled and motivated workforce, the Group is well equipped to face upcoming challenges!

LISTA the world’s leading manufacturer of metal drawer cabinet systems and selected, complementary products for workshop and storage applications. The Group has inter-national production sites in Erlen (CH), Engwilen (CH), Colzate (IT), Holliston (USA) and Bergneustadt (GER) together with 30 company sales offices. With approximately 900 employees, a turnover of CHF 283 million was achieved for 2007. True to its brand promise “Making Workspace Work”, LISTA offers high-quality workshop equipment and storage solutions for industrial companies and service providers. LISTA’s core products include drawer and hinged door cabinets, shelving systems, lockers and workstation systems.

Erlen, 16th April 2008    LISTA Holding AG

For more information please contact:

Fred Gamper, CEO
Fabrikstrasse 1
CH-8586 Erlen
Tel:  +41 (0)71 649 25 07
Fax: +41 (0)71 649 25 02