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Stock market makes the dreams of the dairy farmers burst

The shares in the milk processor Hochdorf crashed yesterday on the stock exchange at times up to 20 per cent on the evening of 14 per cent in the Minus. Since the beginning of this year, the milk powder and baby food specialized company has lost on the stock exchange, 60 percent of its value. In the Maximum a share of Hochdorf was 340 Swiss franc value, yesterday after the market close still 103.20 francs.

pain, the value of preparing shrinkage of the 3100 dairy farmers, who are organized in the Central Swiss producers Association of ZMP. Because of the Finanzarm of the ZMP had increased its participation in high-village over the years, from under 3 percent to 14.5 percent. The dream of the dairy farmers, high-village will have the same success story as the dairy group Emmi, you keep 53 percent, however, is burst. The stock market crash shows how very many of the investors distrust in the meantime, the risky strategy of expansion in the milk group, based in Hochdorf, LU.

at the end of August, the first profit warning came. Sales in the first half of the year had fallen by 7 per cent to 281 million Swiss francs. After a gain of almost 14 million Swiss francs in the previous year, the village in the first half of 2018 fell with a loss of 2.2 million Swiss francs in the loss zone. This week, a second profit warning, caused excitement among investors. Again, the sales had to go up the village and profit forecasts down to revise.

is to the shareholders, for example, that high village in China is allowed to sell milk powder. Like all competitors, the Lucerne had to seek new approvals for their brands. While large Chinese suppliers, and large corporations such as Nestlé and Danone already have the necessary permits, waiting for high-village on the green light from Beijing. "We have not yet received registration for our trademarks," says a spokesman from the high village. With the result that the Lucerne in the world's largest growth market, China may not offer the front hand, and no baby food.

Worse-than-expected

in Addition, the end of 2016, for a total of almost a quarter of a billion Swiss francs bought baby food daughter Pharmalys makes a worse business than expected. The distribution of the Tunisian Pharmalys runs in North Africa and the Middle East slow. One reason for this is customer Pharmalys, which are not paid under the previous owners up to 180 days and sometimes even longer your bills are. That's about to change. Until the measures take effect, but it didn't take. The Malaise extends, however, deeper.

The longtime CEO Thomas iron ring was operating the village quickly from the supplier of milk powders for the chocolate industry with low margins of 3 to 4 percent profit at the baby food specialists, with a 7 percent margin. The stock market responds to the lack of implementation of the strategy.

In June, the iron ring had to the sales of the Lithuanian subsidiary Baltic Milk. The processed quantity of milk went back alone from 2015 to 2017. Since 2016 the plant to the level of wrote profit operating in the red, in addition, larger investments were. The hopes to conquer Lithuania from the EU market, has not been fulfilled.

The East German Uckermärker milk, to the high village holds a 60 percent processed in 2017, almost 30 percent less volume than in the previous year. The factory makes a loss, what the closure of the quark production, it was announced. In South Africa, Thomas iron ring has also purchased a chocolate factory, the drops still nothing.

the question is that iron ring a year ago, sold the German company Zifru to hochdorf, where he was in 43 per cent. He joined in the purchase in recusal. The process should, however, be "most ugly," says an Analyst at a Bank. High village have squandered "the trust of the financial market," says Ronald wild man of Research Partners, analyzes the high-village for professional investors.

"ugly"

miss not only the dairy farmers is likely to. fall of the complex relationship between hochdorf and the Tunisian Pharmalys The previous owner Amir Mechria held a 49 percent to Pharmalys. Since he had to pay in advance in the form of shares, Mechria 2020 Hochdorfs the largest shareholder with 20 percent. By 2023, he may tender his minority Pharmalys high village. This is not, want the village may place them in the third. Investors do not like uncertainties, in the long term plans for a hybrid bond had to be over 100 million Swiss francs in June due to lack of interest of investors 'shelved'.

Let the high village on the table? It was "something ugly" that the Figures of the Pharmalys calculated after payment of the final purchase price "is now so fast and so significantly have deteriorated," is an analysis of the Swiss Bank.

(editing Tamedia)

Created: 11.12.2018, 22:51 PM

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