Half-year report 2002

Improved performance in a challenging environment

The HUBER+SUHNER Group strengthened its position and improved earnings power in the first half of the 2002 business year. Despite ongoing difficulties in the telecommunication business which is one of the Group's main sales markets, consolidated sales amounted to CHF 307 million and the volume of incoming orders reached CHF 322 million, up 1% and 20% respectively, compared with the second-half of 2001. The operating result before restructuring charges improved significantly from CHF -52.7 million to CHF -17.8 million. This was primarily due to rigorous cost-cutting and efforts to increase efficiency.