21/08/2019 | Ingredients

Hochdorf Group has to realign itself

Food company Hochdorf is facing a serious crisis. It performed significantly worse than expected in the reporting period, which was mainly due to the negative performance of its 51 % subsidiary Pharmalys, resulting in a massive fall in profits. The reassessment of business risks at Pharmalys also meant that considerable debt provisions had to be made. Combined with additional value adjustments that had become necessary, this resulted in total a company loss of CHF -63.6 m.

The newly formed board of directors and the senior management team are working intensively to restructure and realign the group. Hochdorf’s future can be secured if the steps announced recently are implemented quickly and consistently, alongside the debt restructuring measures that have been introduced.