Media release (PDF)

<div id="cbc8460e-93b9-4625-814f-401dd917f358">ORIOR Group generated revenues of CHF 291.9 million in the first half of 2021, an increase of 1.6% from the prior-year period (CHF 287.4 million). Organic growth accounted for 0.9% of the overall increase and currency translation had an effect of 0.7%. Primary drivers were the Convenience segment thanks to the growth of product specialities in the trending categories of organic, veggie/vegan, fresh pasta and regionality, Culinor Food Group and, from June 2021 onward, Casualfood and the food service business. These positive drivers were stronger than expected. Meanwhile business in the Refinement segment was weaker than anticipated. This is attributed to the ongoing volatility in commodity prices, the tight supply of high-quality raw materials and unforeseen difficulties in an IT system migration project. The Groupʼs gross profit margin increased 84 basis points to 44.5%, which reflects first and foremost the good performance of the Convenience segment with its higher gross margins. EBITDA rose sharply from CHF 23.5 million in the prior-year period to CHF 31.1 million for the first half of 2021. As a result, the EBITDA margin also expanded significantly from 8.2% to a good 10.6%. The primary drivers of this strong improvement in profitability are the fast sales growth of high-margin product lines &ndash; above all veggie/vegan &ndash; enduring higher levels of cost and process flexibility, Casualfoodʼs new financial basis and corona-related aid and support payments. This good result is also reflected at the EBIT line, which amounted to CHF 17.1 million (H1 2020: CHF 10.0 million), and the bottom line, which amounted to CHF 13.5 million compared to CHF 8.3 million in the prior-year period. Cash flow from operating activities showed a significantly improvement to CHF 27.0 million (H1 2020: CHF 9.6 million) thanks in particular to the significant improvement in operating results and due to insurance claims that were booked in the first half of 2020 but not paid out until the second half of 2020. Consequently, the cash conversion ratio rose to a very solid 86.9%. This development was a key factor behind the reduction in the debt ratio to 2.44 x, bringing it back into line with ORIORʼs target of &lt; 2.5 x. ORIOR segments The ORIOR Convenience segment with the Fredag, Le Patron, Pastinella and Biotta competence centres achieved revenues of CHF 108.1 million, which represents an above-average organic growth rate of 13.5%, to which all competence centres contributed. While food service operations enjoyed a good start to the first half of 2020 before coming to a near complete standstill from March on, their weakness during the period under review extended over the entire first half. Consequently, food service revenues fell short of the prior-year level but have clearly rebounded since June 2021. Attention is drawn to the exceptional growth with plant-based specialities and the pleasing increase in revenues generated with fresh pasta, Biotta, organic and regional products in general as well as with poultry products. Special mention is also made of the partnerships initiated by Pastinella and Le Patron with high-profile Swiss chefs to apply their pooled talent and know-how towards the development of new products and concepts. The ORIOR Refinement segment with the Rapelli, Albert Spiess and M&ouml;fag centres of competence reported a &ndash;5.1% decline in revenues to CHF 125.1 million. The main reasons for this year-on-year decline are a high comparison base (H120: +3.7%, FY20: +3.3% organic growth), the tight supply of raw materials, product line adjustments, and unforeseen difficulties in implementing a new IT system that temporarily slowed down certain processes and led to some logistical challenges. Food service accounts for a smaller percentage of overall Refinement revenues, so developments in this market do not have the same impact on Refinement as they do in the Convenience segment. One segment highlight of the first half &ndash; besides M&ouml;fag&rsquo;s solid performance &ndash; was the Albert Spiess online shop, which continued to generate pleasing sales after the Christmas and New Year&rsquo;s season thanks to its attractive gift arrangements featuring B&uuml;ndner specialities. The ORIOR International segment consisting of the Culinor Food Group and Casualfood competence centres, Biottaʼs Gesa subsidiary and Spiess Europe, a picking, packing and distribution platform for Group products, reported a marginal decline in revenues of 0.1% to CHF 74.7 million and thus held its revenues at the level from the first half of 2020 despite persisting challenging corona-related impacts. A direct comparison between the two periods is distorted by the very good course of business during the first three months of the prior-year period, before the coronavirus pandemic brought the food travel industry to a standstill. Organic growth for the period under review stood at &ndash;2.9% and exchange-rate fluctuations had a positive effect of +2.7%. Attention is drawn to positive developments at the Culinor Food Group, driven by its expanded customer portfolio since autumn 2020, the good performance of its home-delivery business and the new listing of fresh meal concepts. Gesa and Spiess Europe showed very pleasing developments during the period under review. Both are active in steadily growing trendy categories and not only benefited from the underlying growth, but also clearly outgrew the overall market. Casualfood has been severely impacted by the pandemic and business activity remained at sharply lower levels during the first half of 2021, but an increasingly positive trend has been observed since June. The new Smartseller store (an integrated food &amp; beverage, convenience store and duty free concept developed in a joint venture with Heinemann) in Ljubljana was inaugurated on 1 July 2021. Thanks to its new financial basis, Casualfood is on track for a sustained improvement in profitability. Moreover, German government corona-related aid and support payments cushioned the months-long shutdown of its business in the wake of the pandemic.Expansion of production capacity for plant-based specialities started ORIOR has a more than 25-year track record of craftsmanship and pioneering achievements in vegetarian and vegan specialities &ndash; namely at its Fredag competence centre &ndash; beginning with the introduction of the possibly first alternative meat product to the Swiss market in 1995. Since then Fredag has steadily expanded its skills and abilities in step with steadily growing demand and it now markets a vast range of products through all channels. Today Fredag is one of the largest producers of vegetarian and vegan specialities in Switzerland with its portfolio of proprietary brands such as Noppaʼs&copy;, Nature Gourmet&copy; and Happy Vegi Butcher&copy; as well as private labels. It is now exporting a small but rapidly growing share of its products to Europe. In order to ensure its supply capabilities for plant-based products going forward, ORIOR is investing in the expansion of its production capacity for vegetarian and vegan specialities in Switzerland. Planning and preparatory work for integrating the additional full-scale production lines for plant-based specialities has begun. The gradual commissioning of the new capacity is planned for early 2022. ESG &ndash; 3rd Sustainability Report, climate goal achieved, revised Code of Conduct, CDP disclosure ORIOR published its third Sustainability Report in accordance with GRI Standards. In addition to the numerous small and large projects and action plans pertaining to ESG / sustainability at ORIOR detailed in the Sustainability Report, the following topics are highlighted: The decision to source environmentally friendly hydroelectric power at all Swiss centres of competence enabled ORIOR to achieve its initial climate goal earlier than expected, and actually exceed it by a significant margin. The development and formulation of a new climate goal &ndash; taking into consideration global and national climate action &ndash; is already under way. ORIORʼs compensation policies and shareholding requirements &ndash; introducing a Long-Term Incentive Plan for top management and ensuring even greater alignment with long-term Company goals &ndash; were revised and implemented through amendments to the Articles of Association and through the corresponding enumeration and publication of the Organisational Regulations. ORIOR thereby acknowledged the importance of ESG and achieving the given goals. The Code of Conduct was also comprehensively revised, taking into consideration the evolving ESG requirements. In this context, an independent Group-wide whistle-blower system is now under development and is scheduled to go live in the fall of 2021. Furthermore, ORIORʼs first-time participation in the CDP programme during the current year addresses investor demands for more detailed information on the Company&rsquo;s climate action plans. The results are likely to be available through the CDP platform in the late fall.</div><div id="45795522-958a-4ace-8b49-74c35bd60947"><div><a> <img src="https://gateway.eqs.com/maily/file/56160efa-64c4-4c54-b887-fa994076ef66" /> </a></div></div><div id="df471ac5-a433-4754-bb91-8e893dbecbe4">Outlook From todayʼs standpoint, we expect a good course of business in the second half of 2021. Revenues with food service customers (restaurants, wholesale channel, take-away, event catering, canteens, schools and school lunch programmes) and in the food travel business (Casualfood) have noticeable improved since June 2021. The Convenience segment should continue to perform well in the second half of the year thanks to strong demand for its core product groups. We also expect Culinor to maintain its positive performance. Sales in retail channels are likely to weaken somewhat as the food service industry continues to recover, and cross-border shopping is likely to pick up again. The latter factor does not strongly affect ORIORʼs product categories, but both factors are nevertheless likely to exert somewhat more pressure on the Refinement segment. We are on track revenue-wise; key drivers for the second half are Casualfood, the Convenience segment and the holiday season; management confirms its previous revenue guidance of CHF 605 to 615 million for 2021. Second-half EBITDA will likely be boosted again by the good performance of the higher-margin Convenience segment, the new financial base that has been established for Casualfood and the more flexible cost structures. Given the many positive effects and the good numbers from the first half, management is raising its EBITDA margin guidance for the full year to 10.2 to 10.5% (previously 9.8 to 10.2%). The forecast tax rate and capital expenditure for the year remain unchanged. </div><div id="fa2dcaef-fd24-442f-8cea-03badee3abe7"><div><a> <img src="https://gateway.eqs.com/maily/file/2f36df36-7cba-423e-b39a-b2c71c2bf35f" /> </a></div></div><div id="aaa6b557-cc4a-4841-b2c4-90254be3e6ed">Change in ORIOR Group&rsquo;s Executive Committee Max Dreussi, Head of Fredag, has been appointed a member of ORIOR Group&rsquo;s Executive Committee effective 1 September 2021. He will concurrently assume the role of CEO of the Convenience segment, focusing in particular on the development of cross-segment strategic growth potential. Going forward, he will gradually assume responsibility for key business development projects in support of the Group CEO.Thank you The past half year was again dominated by corona. Although numerous restrictions were eased, the general situation is still quite demanding for all of us. Effective collaboration and progress towards common goals are thus all the more important. We sincerely thank our employees for making our company&rsquo;s performance possible. We also thank our business partners and suppliers, without whom our performance would not have been possible either. We would furthermore like to thank our shareholders for the trust they have placed in us and for their loyalty.Invitation to video conference This Tuesday, 17 August 2021, at 2.00 p.m. CEST, CEO Daniel Lutz, CFO Andreas Lindner and Milena Mathiuet, Head of Corporate Communications &amp; Investor Relations, will hold a Teams video conference to present the 2021 half-year results. Join via Teams: &gt;&gt; <a href="https://teams.microsoft.com/l/meetup-join/19%3ameeting_NWIxZTkzY2EtNTAxNy00YzM4LTk2MzItMmIyYjYyMzY5Nzdk%40thread.v2/0?context=%7b%22Tid%22%3a%2237217b3e-6f13-48af-bb6e-2274c8c1e9a8%22%2c%22Oid%22%3a%22b46ccc44-3cdc-4196-833e-ea2a45e118e9%22%7d">Click here to participate in the video conference</a> &lt;&lt; Join via phone: +41 43 430 76 25, conference-ID: 352 267 77#If you have any organisational questions regarding the video conference or problems with the link, please contact: Judith Zobrist, judith.zobrist@orior.ch, direct line +41 44 308 65 02Download links: <a href="https://orior.ch/en/financial-reports">&gt;&gt; Half Year Report 2021</a> <a href="https://orior.ch/en/financial-reports">&gt;&gt; Alternative Performance Measures first half 2021</a> <a href="https://orior.ch/en/presentations">&gt;&gt; Presentation on 2021 interim results</a> <a href="https://orior.ch/en/sustainability-report">&gt;&gt; GRI Sustainability Report 2020</a> <a href="https://orior.ch/en/code-of-conduct-orior-group">&gt;&gt; Revised Code of Conduct ORIOR AG</a> <a href="https://orior.ch/en/image-gallery">&gt;&gt; Media Image gallery</a>Contact Milena Mathiuet, Head of Corporate Communications &amp; Investor Relations Telephone +41 44 308 65 13, email: investors@orior.chInvestor calendar 2 March 2022: Publication Full Year Results and Annual Report 2021 5 April 2022: Annual General Meeting ORIOR AG</div>

<ul><li>Revenues increased 1.6% to CHF 291.9 million, primarily driven by the strong performance of the Convenience segment.</li><li>EBITDA increased by 32.3% to CHF 31.1 million, corresponding to an EBITDA margin of 10.6%.</li><li>Corona-related factors continued to have an impact; steady recovery in the food service and food travel business since June.</li><li>Implementation of a strategic investment project expanding production capacity for plant-based products initiated.</li><li>ESG: third Sustainability Report published, adoption of green hydropower, comprehensive revision of Code of Conduct, data for CDP reporting submitted.</li><li>Good outlook for the second half of the year.</li><li>Max Dreussi, Head of Fredag, to join ORIOR AG&rsquo;s Executive Committee.</li></ul>

ORIOR reports significantly better first-half results; expansion of production capacity for plant-based products initiated

Media release (pdf)

The internationally active Swiss Food &#x26; Beverage group ORIOR presents its third sustainability report. The GRI-compliant report for 2020 provides detailed and comprehensive information about the Swiss competence centres' projects, progress and challenges within the “The ORIOR Responsibility” strategic pillar. At the same time, ORIOR is announcing the publication of its revised Code of Conduct and its decision to switch over all of its Swiss competence centres to eco-friendly hydroelectricity. This clearly demonstrates ORIOR's commitment and willingness to continue working on improvements throughout all of its areas of activity and to keep investing in progress.&#160;Daniel Lutz, CEO of the ORIOR Group: “The effects of the pandemic also left their mark on our sustainability efforts. Although we did not succeed in realising positive developments in all our areas of activity, we were able to make some solid progress, give important impetus, and initiate projects for future improvements. We view sustainability as the basis for Excellence in Food, a prerequisite and opportunity to differentiate ourselves, and as our responsibility. We have now linked our commitment in this area to the short-term and long-term variable remuneration for top management. My sincere thanks go to each and every employee who is committed to living out sustainability in small and larger ways and who makes a valuable contribution to our future through their daily actions – both at work and in their private lives. Our customers, partners and our consumers also deserve a big thank you as we can only make true and lasting progress if all the stakeholders involved are united in living out their commitment to sustainability.”&#160;ContactMilena Mathiuet, Head of Corporate Communications &#x26; Investor RelationsPhone: +41 44 308 65 13, e-mail: investors@orior.ch&#160;Download links&#x3E;&#x3E; <a href="https://orior.ch/en/sustainability-report">Sustainability Report 2020</a>&#x3E;&#x3E; <a href="https://orior.ch/en/code-of-conduct-orior-group">ORIOR Group Code of Conduct</a>&#x3E;&#x3E; <a href="https://orior.ch/en/sustainability-at-orior">The ORIOR Responsibility</a>&#x3E;&#x3E; <a href="https://assets-eu-01.kc-usercontent.com/31f4229a-2bac-019f-0c84-fa045a356caf/1ec3e995-db8d-4bbe-905e-3127afa827d3/ORIOR%20AG%20Annual%20Report%202020.pdf">Overview: ESG at ORIOR (see overview in Annual Report on p. 10-11)</a>&#x3E;&#x3E; <a href="https://orior.ch/en/image-gallery">Photo gallery for the media</a>

<ul><li>Third ORIOR Sustainability Report published.</li><li>Sustainability confirmed and further strengthened as a strategic pillar within the ORIOR Strategy 2025.</li><li>All Swiss competence centres switched over to eco-friendly hydroelectricity.</li><li>Sustainability goal achievement now even more strongly weighted in variable executive remuneration.</li><li>Code of Conduct comprehensively revised.</li></ul>

The ORIOR responsibility: GRI Sustainability Report published

ORIOR AG held its 11th Annual General Meeting as a listed company in Zurich today, without the physical presence of its shareholders in accordance with Art. 27 of the COVID-19 Ordinance 3.&#160;A total of 4,060,915 voting rights were represented, which corresponds to 62.31 % of the share capital consisting of 6,517,499 issued shares. Representation through the independent proxy designated by the company was the only means of participation for voting shareholders.&#160;All the proposals by the Board of Directors were approved by shareholders at the Annual General Meeting. This means that the Annual Report, the annual financial statements and the consolidated financial statements for 2020 were all adopted, the dividend was endorsed, and the members of the Board of Directors, its Chairman, Rolf U. Sutter, and the members of the Compensation Committee were all re-elected. At the subsequent constitutive meeting of the Board of Directors that followed, the Board of Directors appointed Dr. iur. Markus R. Neuhaus as Vice Chairman of the Board of Directors; Ms. Monika Friedli-Walser was named Chairwoman of the Compensation Committee. Ernst &#x26; Young AG, Basel, was confirmed as auditor for the 2021 financial year, and lawyer René Schwarzenbach, from Proxy Voting Services GmbH, was re-elected as independent proxy. Furthermore, an amendment to the Articles of Association to create the basis for a remuneration component aligned with the long-term development of the ORIOR Group, along with, in a non-binding advisory vote, the Compensation Report 2020 as well as all the proposals regarding the remuneration of the members of the Board of Directors and the Executive Committee, were approved.&#160;Rolf U. Sutter, Chairman of the Board of Directors: "On behalf of the entire Board of Directors and the ORIOR Group management, I would like to thank all of our shareholders for the trust and loyalty they have demonstrated towards ORIOR. Unfortunately, we were once again prevented from holding an in-person Annual General Meeting, but health and safety had to come first. Thank you for your understanding. The next Annual General Meeting is scheduled for 5 April 2022. Hopefully on that occasion we will be able to see each other in person again and very much look forward to doing so. We would also like to take this opportunity to sincerely thank our employees, our partners, and our consumers."

Shareholders approve all proposals of the Board of Directors

<ul><li>Revenues increased by 0.7% to CHF 600.3 million (+1.6% in local currency); guidance given in August for the second half of 2020 was exceeded.</li><li>Fiscal year strongly affected by corona-related impacts: shifts in the product and channel mix, implementation of regulatory measures and the near-total shutdown of the food travel and food services business.</li><li>EBITDA declined by 13.5% to CHF 52.8 million, resulting in an EBITDA margin of 8.8% for the entire year; second-half margin clearly higher at 9.4%.</li><li>New and more flexible financial basis for Casualfood.</li><li>ORIOR 2025 Strategy presented, implementation in progress, ESG goals more firmly anchored.</li><li>Commitment to an attractive dividend policy and a steady increase in the absolute dividend confirmed: dividend of CHF 2.33 per share proposed.</li><li>Increase in revenues and significant profitability improvement expected for 2021 despite ongoing pandemic.</li><li>Rolf U. Sutter, Chairman of the Board of Directors, will serve a maximum of two more terms.</li></ul>

ORIOR performs well in domestic Swiss market; coronavirus-related factors leave a deep mark on fiscal year 2020

ORIOR presents its strategic road map for the next five years. The ORIOR 2025 Strategy marks a gradual evolution of the company's previous and successful multi-year strategy and is also distinguished by the "ORIOR New Normal" Group-wide initiative that was launched in April 2020 in response to the extraordinary situation and that has clearly enhanced the company's operating performance. Management confirms its guidance for the year as communicated in August 2020 in this connection. Today's new normal is driving new perspectives and a change of thinking yet is also bringing new possibilities. Agility, resolute forward movement, and effective, overarching initiatives take on even more importance in this context. At the same time, continuity and the resilience derived from ORIOR's broader footprint sturdy foundation will remain decisive factors leading to success. Steady value creation for all stakeholders continues to stand out as ORIOR's overarching goal and ambition.&#160;The Board of Directors and the Extended Executive Committee of ORIOR Group worked closely together to develop the ORIOR 2025 Strategy. Internal teams of specialists provided them with valuable support in the formulation of key strategy elements and inputs were also given by senior staff and specialists from throughout the Group through interactive workshops. This broadly based approach and the resulting common understanding regarding the road map we have created serve as a firm foundation for the successful execution of the ORIOR 2025 Strategy.&#160;Primary goals and ambitions 2025In its overarching goals, ORIOR affirms its commitment to sustainable and profitable growth as well as to its unique business model with a decentralised corporate structure. ORIOR aims to thrill consumers with its power of innovation, celebrated across a diverse range of brands, concepts and product worlds. ORIOR embraces clearly defined, responsible management roles, entrepreneurship, and strong values. Sustainable organisational development will be advanced through various initiatives. Sustainability is being anchored more deeply throughout the company. It is an integral and overarching aspect of all strategic themes. Ultimately, a financially strong and resilient foundation provides the best possible means of ensuring operational agility. Quantitative ambitions for 2025 have been formulated based on the overarching goals. Average organic growth of 2 to 4% per year, an annual absolute increase in EBITDA and an EBITDA margin of &#x3E;10% are targeted. Balance sheet quality will be strengthened by achieving an equity ratio of &#x3E;25% and a net deb/EBITDA ratio of &#x3C;2.5x. A steady improvement in capital efficiency (ROCE) is also targeted. Among the sustainability-related goals, ORIOR is aiming for a performance index of &#x3E;80% annually. A steady increase in the absolute dividend is also a part of ORIORʼs 2025 Strategy.&#160;Strategic pillarsThe five strategic pillars – "House of Innovation", "Brand experience!", "Strong Foundation and Operational Agility", "The ORIOR Responsibility" and "We are ORIOR" – form the heart of the ORIOR 2025 Strategy. The previous strategic priorities were both sharpened and expanded, mainly in terms of thematic content. This reflects both the new normal and the enlarged and thus more know-how-rich Group structure and the new value-creating triggers this offers. In addition to the long-term five-year focus, the new strategic pillars now also include short-term goals associated with current trends and topics that are integrated into daily operations through rolling action plans.&#160;Key strategic initiativesThe decentralised business model lets ORIOR companies celebrate their own specific culture and identity, tailored to their work force and the customers they serve, and to create unique product, brand and concept worlds. Three Group-wide strategic initiatives are powerful and value-generating tools that will help it unlock additional potential synergies. They are the intradisciplinary "ORIOR Champion Model", the synergistic "ORIOR Bridge-building" as well as the aforementioned ground-breaking "ORIOR New Normal" initiative, which has already been introduced.&#160;M&#x26;A prioritiesORIOR remains open to smaller bolt-on transactions, acquisitions and corporate alliances in its four-pronged M&#x26;A strategy. Taking into consideration the stated goal of sustained improvement in balance sheet quality, the focus here – at least during the initial phase of the five-year strategy period – will be on smaller transactions that strengthen and/or round out the core business of the existing competence centres.&#160;ESG – Environmental, Social, GovernanceORIOR is fully aware of the importance of ESG requests. An overview of its ESG efforts will be published in the 2020 Annual Report. ORIOR is already effectively addressing a wide range of environmental and social issues in its sustainability strategy. Good corporate governance is addressed in various ways. For example, in the "We are ORIOR" strategic pillar, in the sustainability strategy, and in ORIOR's guiding principles and standard policies. During the preparation of the ORIOR 2025 Strategy, various elements of the company's renumeration and shareholder policy plans were also evaluated, and further gradual refinements will be made. For example, a long-term incentive plan and a staggered employee stock ownership plan will be introduced under the ORIOR 2025 Strategy. Performance criteria for top management will be defined in greater detail and also include ESG goals. Minimum shareholding requirements will be introduced for the Executive Committee and the Board of Directors. Further details on these matters will be announced in 2021.&#160;2020 guidanceWith the presentation of the ORIOR 2025 Strategy, management confirms its guidance for fiscal year 2020 as given in August (see <a href="https://assets-eu-01.kc-usercontent.com/31f4229a-2bac-019f-0c84-fa045a356caf/07927c0c-17ca-49c0-bda8-8fa41606ca40/Analyst%20and%20media%20presentation%20first%20half%202020.pdf">presentation for the first half of 2020</a>, from page 22). From todayʼs perspective, the numbers are likely to be at the upper end of the guidance; the tax rate and capex are expected to be within the given range.&#160;Download links<a href="https://orior.ch/en/presentations">Presentation of ORIOR 2025 Strategy</a><a href="https://orior.ch/en/image-gallery">Image gallery for media</a>&#160;ContactMilena Mathiuet, Head of Corporate Communications &#x26; Investor RelationsTelephone +41 44 308 65 13; e-mail investors@orior.ch&#160;Investor CalendarMarch 10, 2021: Publication of 2020 results and annual reportApril 26, 2021: Annual General Meeting 2021

ORIOR 2025 Strategy – Continuity. New Normal. Growth Momentum.

ORIOR, the internationally active Swiss food &amp; beverage group, presented good first-half 2020 results against the backdrop of Covid-19 &ndash; thanks to its broader operational footprint, flexible and agile structure, and market centricity as well as its good business development during the first two-and-a-half months of the fiscal year. Business was materially impacted by government guidelines and restrictions and the ensuing measures ORIOR implemented to protect the health of its employees and maintain its supply capabilities. The consequent changes in ORIOR's product and channel mix led to a surge in the retail business and a near-standstill in business at travel catering specialist Casualfood as well as sharp declines in other areas of the food service business.&nbsp;ORIOR Group generated revenues of CHF 287.4 million in the first half of 2020, which corresponds to an increase of 2.8% from the prior-year period. Organic revenues increased 0.2%, which is notable considering the difficult situation. Organic growth was driven by the ORIOR Refinement and ORIOR International segments. Sharply higher demand in the retail sector due to changes in consumption needs as a result of government policy responses to the pandemic was the key factor for their growth. In addition, business with food service customers after the easing of lockdown restrictions in May was better than expected, albeit still at low levels. On the whole, the significant declines in food service revenues (restaurants, wholesale, take-away, event catering, canteens, schools, childrenʼs lunch services) were more than offset by the organic growth. Acquisitions had a positive effect of 4.0% on Group revenues, which reflects the purchase of the second tranche of Casualfood shares in the autumn of 2019 and the consequent full consolidation of the subsidiary. Currency translation had a negative effect of &ndash;1.4% on Group revenues.&nbsp;EBITDA declined by CHF 4.9 million to CHF 23.5 million and the resulting EBITDA margin stood at 8.2%. This contraction is attributed on the one hand to non-recurring costs related to the many measures taken to safeguard the health of ORIOR employees and the company's supply capabilities. The implementation of these measures, ranging from additional safeguards in production areas and break rooms to structural and other changes at points of entry or in locker/changing rooms, entailed considerable &ndash; mostly non-recurring &ndash; additional costs. They also resulted in temporarily higher absentee rates (vulnerable workers) and slowed down certain operating processes. Public policy responses restricting the right to travel and freedom of movement led to shifts in consumption patterns that impacted both the product and the sales channel mix. There was a general increase in demand from retailers, especially for branded and core products in the refinement, fresh pasta and veggie categories and for Biotta juices. Promotional activities and certain product lines were temporarily scaled back or halted. Meanwhile sales of ready meals declined, in part because of more homeoffice working and consumers had more time to cook their own meals. On the other hand, restaurants and other food establishments were forced to close during the lockdown and that led to the production stoppage of entire product groups. Thanks to its flexible and agile structure, ORIOR managed to realign its production activities in response to the changes in the product mix as well as the surge in demand from food retailers within a very short period of time, which, however, entailed additional costs during this phase of transition. The relatively lower-margin Refinement segment showed very good organic growth during this extraordinary crisis, while sales at the generally higher-margin Convenience segment declined due to the aforementioned changes in consumption needs and the sudden plunge in the food service business. These changes in the product and channel mix had an impact on the Groupʼs profitability as well. Moreover, the near standstill at Casualfood, integrated into ORIOR Group as of the autumn of 2019, had an additional and material impact on all key figures of the income statement.&nbsp;Quickly initiated cost-cutting measures, temporary measures such as short-time work, and the one-time insurance benefits received were unable to completely offset the above-mentioned negative factors. Operating profit (EBIT) was additionally impacted by acquisition-related depreciation. First-half EBIT amounted to CHF 10.0 million, a decline of CHF 7.4 million compared to the prior-year period. Net profit declined by CHF 5.7 million to CHF 8.3 million, which also reflects the absence of the positive non-recurring income tax effects from the prior-year period.&nbsp;Operating cash flow for the period under review amounted to CHF 9.6 million (H1 2019: CHF 20.8 million). This contraction reflects the lower earnings and insured benefits that will not be paid out until July 2020. The cash conversion ratio of 40.9% for the period was therefore also well below the multi-year average (H1 2019: 73.3%).&nbsp;ORIOR Convenience segmentThe Convenience segment, which consists of the Fredag, Le Patron, Pastinella and Biotta competence centres, reported revenues of CHF 95.2 million, which represents a decline of &ndash; 3.9% from the prior-year period. All four competence centres began the year on a positive note and the outlook for the months to follow was promising. That abruptly changed with the restrictions and guidelines issued by government officials in response to the coronavirus outbreak, which led to significant declines in food service sales as well as shifts in consumption patterns as people had more time to cook. Fredag and Le Patron, the two competence centres that generate a large share of their total revenues in the food service business, were materially impacted by these developments. Fredag nevertheless experienced good growth in the retail channel and its business with customers in the restaurant industry was better than expected as restrictions were eased, whereas Le Patron's revenues from ready meals plunged due to the shifts in consumption needs, in addition to the absence of event-related catering revenues and the slow resumption of business with canteens and schools late in the reporting period. Pastinella and Biotta juices generated very good revenues &ndash; thanks in part to their low exposure to the food service business. Ultimately, the additional revenues with the retail industry were unable to completely offset the significant drop in this segment's revenues from food service and ready-made products.&nbsp;As for raw materials, the segment was challenged by high prices for Swiss poultry and the tight supply of special raw materials (e.g. organically grown raw materials) &ndash; partly attributable to the increase in demand from retailers.&nbsp;ORIOR Refinement segmentThe ORIOR Refinement segment with the Rapelli, Albert Spiess and M&ouml;fag competence centres achieved very good organic growth of 3.7% to CHF 131.9 million in the first half of 2020, to which all three competence centres contributed. The key driver was sharply higher demand in the retail and discounter channels, even though promotional activities and product lines were occasionally scaled back at short notice. The very good performance of branded and core product groups and general trends distinguished by a preference for regional and organic products &ndash; which have gained even more momentum because of the coronavirus &ndash; were able to more than offset these reductions in promotional activities and product lines. Thanks to their strong regional appeal and "terroir specialities", Rapelli and Albert Spiess additionally profited from the greater numbers of Swiss who vacationed or made short trips in Switzerland. M&ouml;fag generates a much smaller share of its over-all revenues with food service customers and demand for its products from discounters was also sharply higher, so it likewise performed very well in the first half.&nbsp;As for raw materials, the expected high prices in view of the significantly higher levels of demand &ndash; especially for organic and regional products &ndash; were pushed even higher by the tight supply of Swiss raw materials.&nbsp;ORIOR International segmentThe ORIOR International segment with the Culinor and Casualfood competence centres, Biotta's sister company Gesa, and Spiess Europe, a distribution platform, increased its revenues to CHF 74.8 million compared to CHF 67.3 million in the prior-year period. This growth of +11.1% consists of an acquisition effect of +16.6% from the acquisition of Casualfood as of the autumn of 2019, good organic growth of +0.3% considering the extraordinary situation, and a clearly negative currency effect of &ndash;5.8%. The reporting period started off very well; afterwards, the rapid global outbreak of the coronavirus and subsequent lockdowns with an almost complete standstill of the airline industry hit Casualfood, a company specialising in travel catering, hard. Almost all of its sales outlets had to be closed. Rail and air traffic has slowly resumed since June 2020 and Casualfood's points of sale are also gradually being reopened. In the Benelux food service and retail markets, the situation was similar to that in Switzerland. The Culinor Food Group, ORIOR's specialist for freshly prepared meals and meal components, generated strong growth with home delivery solutions and specialty products for the retail channel developed in collaboration with renowned chefs. At the same time, food service revenues in the Benelux (including schools and system gastronomy) plunged, and sales of ready meals declined due to the restrictions imposed on freedom of movement and travel and the ensuing shift in consumption patterns (employees working from home, more time to cook). Gesa, Biotta's sister company specialised in organic vegetable juices for the B2B market, and Spiess Europe delivered very good results for the period under review.&nbsp;On the commodity front, there were no changes or notable extraordinary effects.&nbsp;Key Group initiativesThe presentation of the ORIOR 2025 strategy has been postponed due to the extraordinary situation in the wake of the corona pandemic. The ongoing strategy process is being interactively developed with the Top50, key executives and specialists from throughout ORIOR Group, and approved in stages by the Board of Directors, which is closely involved in the process. The ORIOR 2025 strategy will be presented to investors on 9 November 2020. It will also cover the increasingly important issue of sustainability and the somewhat broader ESG issues (Environmental, Social and Governance). Both are the focus of key Group initiatives that are being vigorously pursued. The current focus is on firmly anchoring sustainability issues in the company's planning and implementation processes as well as in the daily operations and the general mindsets of its employees. Talent management, clean label, energy strategy and packaging optimisation are other projects that we are working on. ORIOR intends to provide a detailed overview concerning ESG when it publishes its 2020 annual report. A key element of management strategy as well as the ORIOR 2025 strategy is "New Normal," a key strategic initiative that was launched in the spring of 2020. Besides taking measures to sustain if not improve the company's operating performance levels and cost-efficiency, we are also conducting a detailed analysis of our financial and organisational structures under this initiative and will make the necessary changes to ensure their future-readiness and create fresh momentum for sustainable growth beyond today's horizons.&nbsp;Thank youThis crisis is broad and challenging. The society we live in, the economy and the entire world have been affected in unprecedented ways and this crisis will challenge us for some time to come. Daniel Lutz, CEO of ORIOR Group: "I thank all ORIOR employees for the remarkable achievements and for ensuring compliance with all the emergency orders and measures that were imposed during this extraordinary time. The general operating environment and working conditions were and are anything but normal. This has required perseverance, strength, and identification. So far, we have mastered this crisis well. You have earned my admiration and respect."&nbsp;&nbsp;ORIOR Groupʼs key figures for the first half of 2020&nbsp;<table border="1" width="588" cellspacing="0" cellpadding="0"><tbody><tr><td valign="bottom" width="41%">in CHF thousand</td><td valign="bottom" width="16%">Jan &ndash; Jun 2020</td><td valign="bottom" width="16%">Jan &ndash; Jun 2019</td><td valign="bottom" width="12%">∆ in kCHF</td><td valign="bottom" width="12%">∆ in %</td></tr><tr><td width="41%">Net sales</td><td width="16%">287 414</td><td width="16%">279 640</td><td width="12%">+7 774</td><td width="12%">+2.8%</td></tr><tr><td width="41%">EBITDA</td><td width="16%">23 474</td><td width="16%">28 419</td><td width="12%">&ndash;4 945</td><td width="12%">&ndash;17.4%</td></tr><tr><td width="41%">as % of net sales</td><td width="16%">8.2%</td><td width="16%">10.2%</td><td width="12%">&nbsp;</td><td width="12%">&nbsp;</td></tr><tr><td width="41%">EBIT</td><td width="16%">10 031</td><td width="16%">17 423</td><td width="12%">&ndash;7 392</td><td width="12%">&ndash;42.4%</td></tr><tr><td width="41%">as % of net sales</td><td width="16%">3.5%</td><td width="16%">6.2%</td><td width="12%">&nbsp;</td><td width="12%">&nbsp;</td></tr><tr><td width="41%">Profit for the period</td><td width="16%">8 310</td><td width="16%">13 967</td><td width="12%">&ndash;5 657</td><td width="12%">&ndash;40.5%</td></tr><tr><td width="41%">as % of net sales</td><td width="16%">2.9%</td><td width="16%">5.0%</td><td width="12%">&nbsp;</td><td width="12%">&nbsp;</td></tr><tr><td width="41%">Operating cash flow</td><td width="16%">9 602</td><td width="16%">20 827</td><td width="12%">&ndash;11 225</td><td width="12%">&ndash;53.9%</td></tr><tr><td width="41%">Cash conversion in %</td><td width="16%">40.9%</td><td width="16%">73.3%</td><td width="12%">&nbsp;</td><td width="12%">&nbsp;</td></tr><tr><td width="41%">Net debt / EBITDA ratio</td><td width="16%">2.87x</td><td width="16%">2.45x</td><td width="12%">&nbsp;</td><td width="12%">&nbsp;</td></tr><tr><td width="41%">Equity ratio</td><td width="16%">19.3%</td><td width="16%">23.2%</td><td width="12%">&nbsp;</td><td width="12%">&nbsp;</td></tr><tr><td width="41%">Dividend per share in CHF</td><td width="16%">2.32</td><td width="16%">2.24</td><td width="12%">&nbsp;</td><td width="12%">&nbsp;</td></tr><tr><td width="41%">Stock market capitalisation in CHF m</td><td width="16%">507.7</td><td width="16%">537.7</td><td width="12%">&nbsp;</td><td width="12%">&nbsp;</td></tr><tr><td width="41%">Avg. number of employees (FTE)</td><td width="16%">2 0501</td><td width="16%">1 601</td><td width="12%">&nbsp;</td><td width="12%">&nbsp;</td></tr></tbody></table>&nbsp;1 Increase driven by acquisition of majority stake in Casualfood.&nbsp;OutlookConsidering the volatile situation surrounding the coronavirus, it is very difficult to give reliable outlook for the 2020 fiscal year. Based on our realistic expectations, we anticipate a good course of business in the second half under the given circumstances. Assuming the general situation with respect to the corona pandemic is stable, the extraordinary effects the pandemic has had on our business activities should continue to subside. The food service business should continue to recover, given the travel restrictions that are still in place and the resulting greater number of domestic tourists in Switzerland's holiday regions. Nevertheless, the situation is still far from normal. We expect a substantial recovery in many channels of the food service business by the end of the year, but hardly any improvement in other areas of the food service industry, event catering for example. In view of the extraordinary situation facing the world today, the travel industry is likely to recover at a much slower pace. Casualfood, thanks to its agile and flexible business model specialising in small and micro outlets as well as mobile food vending stands, is ideally positioned to benefit from the resumption of travel activity. From today's perspective, we expect Casualfood to have at least half of its outlets up and running again by the end of 2020. The retail business is expected to be a strong performer in the second half too, but growth is likely to level off somewhat. On the product front, we expect the trends towards organic and regional products to continue and that sales of ready-made meals will remain sluggish in the second half (as employees continue to work from home). We are working on specifically defined measures and initiatives to improve the company's efficiency and cost base. At the same time, the costs incurred to protect our employees and ensure our supply capability, factoring out the non-recurring expenses, will be lower. Despite the ongoing situation with the coronavirus, we expect operating profitability (EBITDA margin) to rise above the level of 8.2% reported for the first half of the year. Looking beyond the current year, we are very optimistic regarding 2021 and expect good growth rates and a further improvement in the EBITDA margin.

<ul><li>Revenues increased 2.8% to CHF 287.4 million; +0.2% organic, +4.0% acquisition-driven and –1.4% currency translation effect.</li><li>Food service revenues sharply lower; travel catering specialist Casualfood shut down almost completely during the lockdown.</li><li>Business with food retailers and discounters with significant overperformance.</li><li>Corona-related shifts in product and sales channel mix and non-recurring cost pressure profitability. EBITDA declined by CHF 4.9 million to CHF 23.5 million; EBITDA margin 8.2%.</li><li>Net profit declined by CHF 5.7 million to CHF 8.3 million, additionally attributed to acquisition-related depreciation and positive income tax effects from the prior-year period.</li><li>Outlook for the second half of 2020: Retail business should remain strong, stepwise recovery in food service, clear improvement in Group operating profit (EBITDA margin) compared to the first half of 2020.</li></ul>

ORIOR with good sales growth; Corona pandemic had a material impact on the product and channel mix as well as on profitability

ORIOR Group generated revenues of CHF 287.4 million in the first half of 2020, which corresponds to an increase of 2.8 % from the prior-year period. The measures imposed by government officials to contain the coronavirus pandemic, including widespread travel restrictions, and the ensuing shifts in consumer needs led to in some cases sharp declines in revenues from food service channels and Casualfood. Thanks to ORIOR Group's flexibility and agility, market intimacy, and broad range of operations, it swiftly recalibrated its product mix to accommodate a surge in demand from retail customers. The lost sales from the food service channel were more than offset at the organic level by the increase in sales with customers in the retail industry. The gastronomy channel was better than expected in the first few weeks after lockdown restrictions were eased; air traffic has been gradually increasing since June 2020 too. Organic revenues increased 0.2%, which is a good performance within the context of the difficult situation. Revenue growth was driven by the ORIOR Refinement and ORIOR International segments. Acquisitions had a positive effect of 4.0% on Group revenues, which reflects the purchase of the second tranche of Casualfood shares in the autumn of 2019 and the ensuing full consolidation of the subsidiary. Currency translation had a negative effect of –1.4% on Group revenues.&#160;ORIOR Refinement achieved very good organic growth of 3.7% to CHF 131.9 million, fuelled by the sharp rise in demand from the retail channel. The Convenience segment was unable to offset the lost revenues of every product category in the food service business. Sales of fresh pasta and Biotta juices were very good, but sales of ready-made meals declined during the lockdown period. One reason for this was the change in consumption patterns as people had more time to prepare meals at home. Revenues declined by –3.9% from CHF 99.0 million in the prior-year period to CHF 95.2 million in the first half of 2020. The International segment was hit hard by the near complete standstill in air travel. Casualfood was forced to close nearly all of its sales outlets. The Belgium-based Culinor Food Group also observed a change in consumption in its ready meal product lines, but its home delivery business experienced strong growth. Business at Gesa and Spiess Europe was very pleasing. Overall the International segment achieved organic growth of 0.3%, which is a likewise solid performance considering the impact of the coronavirus. Segment revenues amounted to CHF 74.8 million compared to CHF 67.3 million in the first half of the previous year. The acquisition effect from the takeover of Casualfood amounted to 16.6%, and the foreign currency effect on reported segment revenues was clearly negative at – 5.8%.&#160;ORIOR had already held initial meetings and begun to prepare scenario planning in February 2020 in the event of a widespread outbreak of the coronavirus. Shortly afterwards detailed, multi-stage action plans and precautionary concepts had been drawn up and were gradually executed or introduced as the crisis unfolded. This systematic and anticipatory approach enabled us to make swift and unprecedented adjustments to our logistics operations and other operating processes and across our organisation at critical moments of the coronavirus pandemic in response to the official orders and guidelines. Consequently, employee health and safety was protected at all times and our constant supply capability was ensured, which in the end was a vital factor for the overall good revenues. Compliance with emergency measures entailed significant, mostly non-recurring additional costs as well as a temporary upturn in employee absence rates. Together with the adjustments and shifts in the sales channels and product mix and the near standstill of Casualfood's operations, this took a toll on profitability. Some of the margin pressure was offset by stringent cost management and by temporary measures such as short-time work. Nevertheless, operating profitability (EBITDA) will not reach the level reported for the prior-year period. Detailed results will be released on August 19, 2020. In light of the ongoing volatile situation in connection with the coronavirus, the half-year report will include an update of management guidance for the full year. The scope and level of detail of this guidance have not yet been determined.&#160;Sustainability ReportORIOR is publishing its second Sustainability Report in accordance with the GRI Standards. This report will also include a new section on ORIOR's efforts towards achievement of the UN's Sustainable Development Goals (SDGs). The Sustainability Report contains detailed information about the company's progress and challenges and the measures and initiatives taken to promote sustainability within the key areas of activity at ORIOR: “Safe and healthy food”, “Sustainable raw materials”, “Animal welfare”, “Food waste and packaging”, “Climate and energy”, “Water”, “Employee development", “Occupational safety and health” and “Financial performance”.&#160;&#x3E; Download: <a href="https://orior.ch/en/sustainability-report">ORIOR Sustainability Report 2019</a>

<ul><li>Group revenues rose by 2.8 % to CHF 287.4 million.</li><li>Organic growth of 0.2%, despite sharp declines in some areas of the food service business.</li><li>Casualfood, the travel food specialist, was almost completely shut down during the lockdown period, slow recovery.&#160;</li><li>Profitability was negatively impacted by changes in the product and channel mix and by the one-off costs incurred to introduce and implement protective measures in the workplace and ensure the company's supply capabilities.</li><li>ORIOR's second Sustainability Report published.</li></ul>

Publication of revenues for the first half of 2020 and update within the context of the coronavirus

ORIOR successfully navigated the corona crisis during the first half thanks to its hard work, the broad package of measures it introduced, and its flexible, agile, and well-based structure. The application of precautions at the company's production plants and shifts in consumption patterns – the latter resulting of the government-imposed lockdown – necessitated adjustments to our business processes and logistics, in some cases at very short notice. Despite these challenges, ORIOR maintained its supply chain capabilities and high production levels throughout the entire period thanks to very early and effective implementation of precautionary measures at the company's sites and other factors. ORIOR confirms its statements from April 2020 regarding the impact of the corona crisis on its business: strong growth in retail and lower revenues from the food service channels, in some cases sharply lower (food service accounts for about one-quarter of total revenues). Despite product range adjustments and reduced assortments, business with retailers remains very strong and will compensate for most of the decline in revenues from the food service sector (excl. Casualfood). With the re-opening of restaurants and international borders and the gradual resumption of air travel, business in these important sales channels, which have been heavily impacted by the corona crisis, will slowly recover. The performance of these sales channels during the first few weeks after restrictions were eased was very positive in light of the general environment.&#160;Revenue figures and a more detailed update on the impact of the coronavirus pandemic on business in the first half will be published at 6:00 a.m. on 14 July 2020. ORIOR's second Sustainability Report will also be published on the same date.

<ul><li>Strong growth in retail, organically offsetting most of the lockdown-induced decline in food service revenues.&#160;&#160;</li><li>A sales announcement and a more detailed update on the first half of 2020 will be published on 14 July 2020. ORIOR's second Sustainability Report will also be published on that same date.&#160;</li></ul>

Update on coronavirus impact and notice of first-half sales announcement

ORIOR AG held its 10th Annual General Meeting as a listed company in Zurich today, without the physical presence of its shareholders in accordance with Art. 6b of the COVID-19 Ordinance 2.&#160;A total of 3,916,248 voting rights were represented, which corresponds to 60.09 % of the share capital consisting of 6,517,499 issued shares. Representation through the independent proxy designated by the company was the only means of participation for voting shareholders.&#160;All of the Board of Directors' proposals were passed by the Annual General Meeting. The annual report, the annual accounts and the consolidated financial statements for 2019 were approved. The dividend proposal was also approved and the members of the Board of Directors as well as its Chairman were re-elected. At the subsequent constitutive meeting of the Board of Directors, the Board of Directors appointed Markus R. Neuhaus Vice Chairman; Monika Walser was appointed Chair of the Nomination and Compensation Committee.&#160;Ernst &#x26; Young AG, Basel, was confirmed as auditor for the 2020 financial year and attorney-at-law René Schwarzenbach, Proxy Voting Services GmbH, was re-elected to serve as independent proxy until the conclusion of the next Annual General Meeting in 2021. Moreover, all proposals regarding compensation of the members of the Board of Directors and the Executive Committee as well as the renewal of the authorized capital with simultaneous reduction were approved.

The extraordinary circumstances the world is currently facing as a result of the coronavirus pose challenges at every level and in every areas. As a food and beverage company, ORIOR is part of the national food supply network and is doing everything in its power to perform its duties as best it can. All production sites are operating at a high rate of capacity and under heightened safety and protective measures. A special thanks is extended to all employees during this unprecedented time, particularly to those who work in production. They are working very hard under challenging conditions to maintain our high levels of supply readiness.&#160;Due to the measures imposed by the Swiss government, demand for food products in the retail channel, and thus for the product categories ORIOR supplies to retailers, has increased sharply. Meanwhile sales with restaurants and food service providers in general have declined partly dramatically. From today's standpoint, the decline in these sales channels will not be completely offset in the near term by the increase in sales with food retailers. The situation in the Benelux is similar. Casualfood, the food service to go specialist with food islands in high-frequency locations, had to close most of its points of sale in airports. The employees affected by these shutdowns are receiving short-time work allowances from the government. Very few of the employees in Switzerland and Belgium are on short-time work.&#160;Reliable projections of the course of business in 2020 are not possible due to the current uncertainties. Our priorities are keeping employees safe and healthy and maintaining a high level of supply readiness.&#160;The previous guidance for fiscal 2020 can for now not be confirmed due to the uncertainty regarding future circumstances. No changes have been made to our mid- to long-term goals nor to the dividend policy that has been in place since the IPO, thanks to the Group's broader footprint and strategic positioning.&#160;We are doing everything in our power every day to manage the current crisis and contribute our part. In closing, we wish you and your loved ones good health.&#160;Sincerely, ORIOR&#160;　ContactMilena Mathiuet, Head of Corporate Communications &#x26; Investor RelationsTelephone +41 44 308 65 13, email: investors@orior.ch&#160;Investor calendar4 June 2020: Annual General Meeting of Shareholders19 August 2020: Publication of half-year results for 2020

Initial commentary on coronavirus impact

Dear ORIOR Shareholders, Following the recommendation of the Swiss government to avoid large events due to the Coronavirus, the Board of Directors of ORIOR has decided to push back the date of the pending Annual General Meeting of ORIOR AG. The original date of 31 March 2020 has been cancelled; the new date for ORIOR AG's 2020 Annual General Meeting is 4 June 2020. The invitation to the meeting and related information will be published at a later date. We want to ensure that every shareholder who would like to attend the Annual General Meeting can actually do so and we appreciate the personal interaction that is possible at this gathering. We trust the situation will have clearly improved by the time of the rescheduled date so that the event can be held in the same manner as in the past. The Board of Directors thanks all shareholders for their understanding and for taking note of the rescheduled date.

Postponement of Annual General Meeting

The internationally active Swiss food and beverage group ORIOR confirmed its resilience thanks to its broader operational footprint and delivered a good set of results for the 2019 fiscal year, in line with expectations. Key drivers were the purchase of a second tranche of Casualfood shares in September 2019, successful innovation, good brand management, and a steadfast focus on cost efficiency. &#160; ORIOR Group generated revenues of CHF 596.4 million in the 2019 fiscal year, which corresponds to an increase of 3.4% from the previous year. Organic growth amounted to –1.9%, at the lower end of the expected and communicated range. This decrease is attributed primarily to the deliberate termination of an unprofitable contract in the Convenience segment with an annual revenue volume of about CHF 8.2 million. Moreover, ORIOR Switzerland's revenues over the Easter and Christmas holidays were weaker in 2019 compared to the strong seasonal patterns in the previous year. The Refinement segment showed organic revenue growth thanks to innovation, a consistently strong brand performance and price mark-ups. The International segment also generated slightly higher organic revenues thanks to successful innovation. However, these positive developments were unable to offset the entire decline in revenues from the Convenience segment and the unfavorable comparison-base effect. Among the positive developments were the good performance in the Belgian market, pleasing growth at Albert Spiess – driven by intensified sales and marketing activities, the launch of a new brand concept and a rapid flow of innovation – and the solid course of business at Möfag. New business development with customers in the food service and other target segments were also pleasing. Acquisitions had a positive effect of 6.2% on revenues, which reflects the acquisition of Biotta in May 2018 and the purchase of the second tranche of Casualfood, which resulted in the first-time full consolidation of Casualfood as a standalone competence centre within the International segment from September 2019. As already observed during the first half of 2019, Casualfood continued to display agility and an uncomplicated, can-do spirit and ended the year slightly ahead of expectations. The currency translation effect on revenues was –0.9% and reduced reported revenues by CHF 5.0 million. A broader operational footprint with new business units helped to strengthen the Group's gross profit margin. Despite the negative effect from higher meat prices, the gross profit margin rose by 82 basis points to 44.9%, resulting in a gross profit of CHF 267.6 million (previous year CHF 254.0 million). At the EBITDA line, this increase was diminished somewhat by the higher labor intensity of the new business activities. Thanks to cost discipline, steadfast implementation of process improvement initiatives within the intra-disciplinary Champion Model and ongoing portfolio management efforts, the EBITDA margin remained at a good level of 10.2% and the corresponding EBITDA amounted to CHF 61.0 million (previous year CHF 58.6 million). EBIT rose by 4.9% to CHF 37.3 million. Due to negative currency translation and tax effects respectively the absence of the positive extraordinary items from the previous year, profit for the year amounted to CHF 31.5 million, slightly less than the bottom-line figure from the previous year (CHF 31.8 million). Operating cash flow for the period under review amounted to CHF 57.1 million compared to CHF 52.7 million for the previous year. This substantial increase is attributed primarily to the new business activities and the optimisation of net working capital. The cash conversion cycle rose to an above-average level of 93.5%. ORIOR Convenience segment Revenues from the ORIOR Convenience segment, which consists of the Fredag, Le Patron, Pastinella and Biotta competence centres, did not quite meet expectations and declined by –1.8% to CHF 202.0 million (previous year CHF 205.7 million). The reported figure reflects a positive acquisition effect of 4.7% from the acquisition of Biotta as of mid-May 2018 and a negative organic growth rate of –6.5%. The main factors behind the negative growth were the termination of the aforementioned CHF 8.2 million contract, a high year-ago comparison base with an unusually high organic growth rate of 5.6%, and, in particular, the weaker Easter and Christmas holiday sales in 2019 as well as changes in sales promotion activities. Biotta is developing nicely: Considerable resources were invested in intensive process and workflow projects, the modernisation of its brand image, and in the reinforcement of its marketing and operations personnel, and these efforts clearly paid off. Moreover, the operational startup of the wood chip heating plant brought a first-of-its-kind project in Switzerland to a close and strengthened Biotta's image as a sustainability leader. Attention is also drawn to the successful launch of the new vegan specialities manufactured by Fredag in the heart of Switzerland, examples of which are veggie nugget products and burgers marketed under the “Happy Vegi Butcher” brand. On the commodity front, high poultry prices and the tight domestic supply of certain commodities remained a challenge, as had already been reported for the first half of 2019. Competition and the general market environment remain tough, one reason being retailers' efforts to streamline their product ranges or scale back their sales promotional activities. ORIOR Refinement segment In a year marked by high meat prices, the ORIOR Refinement segment, which consists of the Rapelli, Albert Spiess and Möfag competence centres, reported organic revenue growth of 1.3% to CHF 258.2 million. This growth was fueled by a steady stream of convincing innovations, a strong performance by strong brands, good sales trends with a number of customers, and the pass-through of high meat procurement costs. The Albert Spiess competence centre delivered a strong performance thanks to the further intensification of its sales and marketing activities and innovative new product launches, its new, broader brand concept with an even stronger regional claim, and to good progress on improvement throughout the value chain. Möfag delivered great success in all of its core product areas, fueled by compelling offerings and the positive volume growth in its main sales channels. Thanks to its two well-established, national “Rapelli” and “Ticinella” brands, effective sales activities and convincing innovations, Rapelli also delivered a solid set of results for the year. &#160; Expectations that meat procurement prices would at least edge slightly lower during the fall of 2019 were not fulfilled – prices for pork and beef remained at high levels. This largely reflected the tight domestic supply of both commodities. ORIOR International segment The ORIOR International segment consisting of the Culinor and Casualfood competence centres, Biotta's sister company Gesa and Spiess Europe, a platform for the final processing and distribution of Group products, increased its revenues by 15.9% to CHF 159.6 million. This growth rate consisted of a positive acquisition effect of 19.4%, reflecting the second stage of the Casualfood acquisition and its resulting first-time full consolidation from September 2019 as well as Biotta's German sister company Gesa, which joined the ORIOR family in mid-May 2018, a negative currency effect of –3.7%, and organic revenue growth of 0.2%. Positive factors were the steadfast focus on healthy growth and the International segment's resulting above-average contribution to Group profitability. Guided by its steady focus on healthy growth, Culinor performed particularly well in its domestic Belgian market and, as already observed during the first half of 2019, it made a substantial contribution to Group profits after factoring out non-recurring items. Business at Spiess Europe also showed a pleasing development. Casualfood, the newest member of ORIOR Group since September 2019, performed well and slightly exceeded expectations. On the commodity front, the International segment experienced a slightly positive effect from the nascent normalisation of crop yields versus the previous year. The net effect of these developments was virtually neutral. Top performers in the International segment were the Belgian market, food service customers and the to-go channel; the Dutch market is in the throes of consolidation and this has created some temporary challenges. Swiss GAAP FER Plus As announced earlier, ORIOR is presenting additional information with the publication of its full-year results for 2019 that is intended to allow investors and analysts to better evaluate ORIOR and its business development. FTEs, revenues by country, and revenues generated with the five largest customers are included in this additional set of information, which can be found in the 2019 annual report. Of particular note in this context is the change in the structure of the largest customers arising from ORIOR Group's broader positioning and corresponding diversification. The trend towards broader customer segmentation thus continues. &#160; ORIOR 2025 strategy ORIOR Group's Executive Committee has initiated the 2025 strategy process together with the Board of Directors. As was already the case during the development of the ORIOR 2020 strategy, the new strategy will be developed and formulated in an interactive process involving the Board of Directors and key executives from throughout the company. Specialists for specific topics from across the company have also been appointed to the core strategy team. ORIOR's 2025 strategy will be presented to the public in June 2020. First Sustainability Report based on GRI Standards ORIOR published its first Sustainability Report in accordance with the internationally recognised Global Reporting Initiative GRI together with its first-half results for 2019. This report described the company's comprehensive sustainability strategy and its related goals up to 2025. Initial measures and initiatives to anchor sustainability more firmly into the company's operations had already been launched by autumn 2019 and additional resources have been invested to ensure vigorous implementation. The next Sustainability Report will be published in August 2020 together with the first-half results for 2020, to allow any minor changes that might emerge from the strategy 2025 to be integrated into the updated Sustainability Report. Afterwards, from 2021 onwards, we plan to publish the annual Sustainability Report in the first half of the year. Renewed increase in the dividend ORIOR is committed to maintaining a constant and predictable dividend distribution; its dividend has been steadily increased since its IPO in 2010. The Board of Directors will propose another increase in the dividend to CHF 2.32 per share at the Annual General Meeting on 31 March 2020. 50% of the proposed payout will be distributed from retained earnings and 50% from capital contribution reserves. This mix is required after the implementation of the Federal Act on Tax Reform and AHV Financing (STAF/TRAF) on 1 January 2020, which imposes a limitation on the distribution of payouts from tax-exempt capital contribution reserves. Key figures for ORIOR Group – financial year 2019&#160;<table border="1" cellpadding="2" cellspacing="0"><tbody><tr><td valign="bottom" width="268">in kCHF</td><td valign="bottom" width="87">2019</td><td valign="bottom" width="82">∆ in %</td><td valign="bottom" width="93">2018</td></tr><tr><td width="268">Net sales</td><td width="87">596 350</td><td width="82">+3.4%</td><td width="93">576 650</td></tr><tr><td width="268">EBITDA</td><td width="87">61 031</td><td width="82">+4.2%</td><td width="93">58 573</td></tr><tr><td width="268">EBITDA as % of net sales</td><td width="87">10.2%</td><td width="82">&#160;</td><td width="93">10.2%</td></tr><tr><td width="268">EBIT</td><td width="87">37 322</td><td width="82">+4.9%</td><td width="93">35 578</td></tr><tr><td width="268">EBIT as % of net sales</td><td width="87">6.3%</td><td width="82">&#160;</td><td width="93">6.2%</td></tr><tr><td width="268">Profit for the year</td><td width="87">31 494</td><td width="82">–1.0%</td><td width="93">31 819</td></tr><tr><td width="268">Profit for the year as % of net sales</td><td width="87">5.3%</td><td width="82">&#160;</td><td width="93">5.5%</td></tr><tr><td width="268">Cash flow from operating activities</td><td width="87">57 093</td><td width="82">+8.3%</td><td width="93">52 717</td></tr><tr><td width="268">Cash Conversion in %</td><td width="87">93.5%</td><td width="82">&#160;</td><td width="93">90.0%</td></tr><tr><td width="268">Net debt / EBITDA ratio</td><td width="87">2.47</td><td width="82">&#160;</td><td width="93">2.46</td></tr><tr><td width="268">Equity ratio</td><td width="87">21.4%</td><td width="82">&#160;</td><td width="93">22.5%</td></tr><tr><td width="268">Dividend per share in CHF</td><td width="87">2.32</td><td width="82">&#160;</td><td width="93">2.24</td></tr><tr><td width="268">Stock market capitalisation</td><td width="87">583.3</td><td width="82">&#160;</td><td width="93">519.4</td></tr><tr><td width="268">Av. number of employees (FTE)</td><td width="87">2 295</td><td width="82">&#160;</td><td width="93">1 630</td></tr></tbody></table> Appointment of Vice Chairman The Board of Directors of ORIOR AG appointed Markus R. Neuhaus, Dr. iur., Vice Chairman of the Board of Directors. Markus R. Neuhaus, Dr. iur., was elected to the Board of Directors of ORIOR AG for the first time at the Annual General Meeting on 11 April 2019 and was appointed Chairman of the Audit Committee at the subsequent constitutive meeting of the Board of Directors. Outlook We expect 2020 to be a good year for ORIOR with every business segment contributing to organic growth. The expanded scope of our operations has enhanced both our stability and our resilience. The general market environment will remain challenging, but our pipeline is full of strong arguments for our products, concepts and services. Meanwhile, we continue to work ceaselessly on developing and refining our human resources as well as our common values and our efficiency within the framework of our Champion Model and other projects. With the goals given in our sustainability strategy we will also be able to create and capture new sales opportunities and / or save costs. In June 2020 we will present our ORIOR 2025 strategy. The third stage of the Casualfood acquisition is planned for the autumn of 2020. The “Smartseller” joint venture first announced in early 2020 will be introduced and gradually perfected at two or three locations, as communicated in that announcement. Another highlight will be the launch of the “Happy Vegi Butcher” brand in retail channels across Switzerland during the first quarter of this year. On the whole we anticipate operating profitability (EBITDA margin) to match the healthy level achieved in 2019. We are confident. It will be a good year for ORIOR. The quantitative and qualitative guidance for the current year given with the interim results for 2019 can be found in the presentation.

<ul><li>Net sales increased by 3.4% to CHF 596.4 million</li><li>Gross margin increased from 44.0% to 44.9%</li><li>EBITDA increased to CHF 61.0 million; margin held at the good level of 10.2%</li><li>EBIT increased in absolute and percentage terms and amounted to CHF 37.3 million, resulting in an EBIT margin of 6.3%</li><li>Net profit slipped 1.0% year-on-year to CHF 31.5 million, due to exchange rate movements and tax effects</li><li>Second tranche of Casualfood shares purchased; majority stake of 70%, full integration as an independent competence centre; results slightly better than expected</li><li>Renewed increase in the dividend to CHF 2.32 per share</li><li>Outlook for the 2020 fiscal year positive</li></ul>

ORIOR delivers on expectations and demonstrates good stability thanks to broader operational footprint

The “Smartseller” joint venture brings the core competencies of the two companies together with the aim of creating a novel shopping and consumer experience: integrating the unique grab-and-go outlets and the duty-free and travel-value products into a cohesive concept. The common idea will first be elaborated and then implemented at two or three small and medium-sized locations. The pilot project will be conducted at the Münster Osnabrück Airport (FMO). Multiplication of the concept with scale-up and roll-out at other sites throughout Europe is scheduled for 2021.&#160;Raoul Spanger, COO at Gebr. Heinemann, is excited at the prospect of the new formats for small and mid-sized airports: “The Smartseller concept combining our classic duty-free sales outlets with first-class in-store culinary delights will add to the appeal of our sales outlets and boost business.” Daniel Lutz, CEO ORIOR Group, and the two founders and directors of Casualfood Stefan Weber and Michael Weigel, agree that the collaborative venture with a company like Gebr. Heinemann is a relevant step that will unleash new opportunities.&#160;The “Smartseller” joint venture will operate as an independent company under the management of Karl Niendorf. Gebr. Heinemann and Casualfood each holding a 50% stake. Regulatory approval of the joint venture is still pending.&#160;More about CasualfoodCasualfood is a pioneering operator of small scale food islands at airports with high-quality food to go and snack carts for travellers on the go. True its motto “The taste of travelling”, Casualfood's core competency is creating and operating mobile and stationary food to-go units within unique and innovative brand worlds in the travel food service business. The casual product range is uncomplicated and handpicked to match the latest food trends for people on the go. Closeness to the consumer and flexible formats mean the cross-concept offerings can be quickly and easily adjusted in response to customer needs and fluctuations in foot traffic.&#160;Find out more about Casualfood at: <a href="http://www.casualfood.de/?lang=en">www.casualfood.de</a>&#160;More about Gebr. Heinemann SE &#x26; Co. KGGebr. Heinemann is one of the top players on the international travel retail market and the leader on the European market. It is the only family-run business among the global players of the travel retail industry. As a distributor, Gebr. Heinemann supplies more than 1 000 customers in over 100 countries. In the retail sector, the company operates more than 340 Heinemann Duty Free &#x26; Travel Value shops, fashion label boutiques under license and concept shops at 74 airports in 28 countries, along with shops at border crossings and aboard cruise liners. The company has been designing its Duty Free &#x26; Travel Value Shops since 2008 in accordance with an exceptional brand concept. Today, the Heinemann Duty Free brand is present at numerous airports worldwide and operates its biggest Airport Duty Free shop in Sydney.&#160;In total, the retail operation now serves more than 40 million customers across more than 160 000 square metres of retail space every year. Gebr. Heinemann has had its headquarters in what is now the HafenCity district of Hamburg since 1879. The company is managed by cousins Claus and Gunnar Heinemann and Gunnar's son and CEO Max Heinemann, the fourth and fifth generation of the family to run the business hand in hand. Gebr. Heinemann has more than 8 000 employees around the world.&#160;&#160;Find out more about Gebr. Heinemann at: <a href="https://www.gebr-heinemann.de/en">www.gebr-heinemann.de</a>

Casualfood GmbH, an ORIOR Group subsidiary specialising in high-quality food-to-go outlets, and Gebr. Heinemann SE &#x26; Co. KG, a multi-generational family-run duty-free retail and distribution company, are teaming up in a joint venture called “Smartseller” catering to small and mid-sized airports in Europe.

Gebr. Heinemann and Casualfood create new opportunities with “Smartseller” joint venture

Media Release (pdf)

In March 2019, ORIOR announced that Andreas Lindner had been appointed as the new CFO of ORIOR Group. ORIOR welcomes Andreas on board and is pleased to have recruited a seasoned executive with extensive experience working for traditional Swiss companies of international stature as well as profound financial knowledge and strong strategic thinking skills. Andreas Lindner is assuming responsibility for ORIOR Group's finances from Bernhard Pfulg, who had held the position of CFO ad interim since mid-December 2018. We greatly appreciate Bernhard Pfulg's exceptional commitment and highly professional management of the Group's financial affairs. Bernhard Pfulg will continue to serve as CFO of ORIOR Switzerland, overseeing the financial matters of the Swiss business units, and he will also act as Deputy CFO of ORIOR Group.

Andreas Lindner has assumed the position of CFO of ORIOR Group as of today and taken a seat on ORIOR's Executive Committee.

ORIOR welcomes its new CFO

ORIOR, the internationally active Swiss food &amp; beverage group, has increased its interest in Casualfood to 70 %, which further strengthens its broader strategic footprint by adding a new centre of competence specialised in small scale food islands in the fast-growing food service to-go market.&nbsp;In the fall of 2018, ORIOR announced the multi-stage acquisition of Casualfood, beginning with an initial 35 % interest in the company. Having purchased an additional 35 % interest, ORIOR now owns a majority stake and Casualfood has been integrated into the ORIOR International segment as an independent centre of competence. Casualfood will therefore be fully consolidated as of September 2019. The purchase of this additional interest has been financed with internal funds and through existing lines of credit. ORIOR intends to acquire all remaining Casualfood shares in stages by 2022.&nbsp;Casualfood's two founders and co-CEOs, Stefan Weber and Michael Weigel, are pleased that their successful company is becoming part of the ORIOR family and Weber will take a seat on the Group's Extended Executive Committee. Daniel Lutz, CEO of ORIOR Group, is also pleased: &ldquo;Casualfood&nbsp;is a great company. The fine sense for brand worlds and trends is remarkable. Their success is also based on an unconventional, agile and creative way how this team creates new brand worlds with concise stories and their proximity to consumers with a strong focus on small scale food islands.&rdquo;&nbsp;Further information about Casualfood (links)Details on Casualfood's business model and core competencies can be found in the <a href="http://www.orior.ch/en/investor-relations/media-releases/media-releases/news/orior-strenghens-its-food-service-and-european-business/">media release</a> and <a href="http://www.orior.ch/en/investor-relations/presentations/">presentation</a> dated 4 September 2018. Please visit <a href="http://www.casualfood.de">www.casualfood.de</a> for further information on Casualfood's brand concepts and history.&nbsp;ContactMilena Mathiuet, Head of Corporate Communications &amp; Investor Relations Telephone +41 44 308 65 13, e-mail: investors@orior.ch&nbsp;Investor Calendar26 February 2020: Publication of full year results and annual report 201931 March 2020: 10th Annual General Meeting19 August 2020: publication half-year results and half-year report 2020

ORIOR raises its interest in Casualfood

ORIOR, the internationally active Swiss food &amp; beverage group, is pleased to present a good set of results for the first-half of 2019. Its enlarged operational footprint with new business models and a steady focus on sustainable margins, cost discipline and continuous process optimisation and productivity gains contributed to the good results. Business in the Groupʼs domestic Swiss market was satisfying despite the challenging environment. The International segment held its revenues at the level reported in the prior-year period and was a strong driver of Group profitability &ndash; thanks in particular to Culinor Food Group.&nbsp;ORIOR Group generated revenues of CHF 279.6 million in the first half of 2019, which corresponds to an increase of 2.2% from the prior-year period. The top line was buoyed by an acquisition effect of 4.8% stemming from the acquisition of Biotta in May 2018 and by organic growth at the Refinement and International segments. Currency translation had a negative effect of 0.8% on reported revenues. Furthermore ORIOR terminated a contract in the Convenience segment with insufficient margins that had generated CHF 8.2 million in annual revenues, which led to a 1.8% y-o-y decline in organic revenues for the first-half period.&nbsp;The benefits of the Groupʼs broader strategic positioning are becoming more apparent and making it more resilient. Despite challenging conditions in the Swiss market, high raw material prices and stiff competition, gross profit increased 2.0% to CHF 124.1 million and the gross profit margin was held at the good year-ago level of 44.4%. EBITDA rose 3.7% to CHF 28.4 million and the corresponding margin rose by 16 basis points to 10.2%. Even compared to adjusted EBITDA for the first half of 2018 (CHF 27.9 million), which excludes the one-time costs related to the Biotta acquisition in May 2018, absolute EBITDA for the first half 2019 was still higher y-o-y and the corresponding margin was held at the year-ago level. Operating profit (EBIT) amounted to CHF 17.4 million, an increase of 7.1% from the prior-year period. This growth reflects the operating performance and the end of amortisation periods of intangibles. Net profit rose 7.4% to CHF 14.0 million and the net profit margin widened 24 basis points to 5.0%. Net profit was impacted by positive non-recurring income tax effects as well as higher interest expense and unfavourable exchange-rate movements.&nbsp;Operating cash flow for the period amounted to CHF 20.8 million, which does not quite reach the figure reported for the prior-year period of CHF 21.3 million. The cash conversion ratio was a good 73.3%.&nbsp;ORIOR Convenience segmentThe ORIOR Convenience segment with the Fredag, Le Patron, Pastinella and Biotta competence centres was unable to achieve organic growth despite a steady stream of new products and investments in sales and marketing teams. The main reason for this lack of organic growth is ORIOR's decision to terminate a contract with an annual revenue volume of CHF 8.2 million in favour of a healthier level of profitability.&nbsp;Segment revenues rose by 5.2% to CHF 99.0 million. Reported revenue growth reflects an acquisition effect of 10.3% and a 5.1% decline in organic revenues. Biotta, which joined ORIOR Group in mid-May 2018, performed well thanks to revised branding strategies, a methodical prioritisation process, a clear focus on costs and investments in marketing and operations. Overall segment performance was diminished by the aforementioned decision to terminate the low-margin contract; approximately half of the total revenues lost from this contract were reflected in the revenues reported for the first-half. That decision, a weak Easter season and high poultry prices led to the decline in organic growth. These negative factors aside, the Convenience segment launched great innovations and continued to grow and strengthen its customer base.&nbsp;On the sourcing front, high poultry prices and domestic supply constraints are the main challenges. Competition and general market conditions remain demanding, which to some extent is attributable to efforts by retailers and wholesale distributors to streamline their product offerings and scale back their sales promotion activity.&nbsp;Innovation highlights: Pastinella, the Group's pasta competence centre, was very pleasing. Long-established product lines as well as a new "Signature Suisse" line of pasta products inspired by traditional Swiss recipes featuring regional ingredients contributed to this pleasing development. Fredag launched an innovative range of snacks under the "myEnergy" brand, such as veggie balls with a curry sauce and chicken balls with a sweet &amp; sour dip. Biotta's convinced with innovations like the organic cold brew iced tea within the "Vivitz" brand family. Cold brewed in a gentle process for 12 hours, this refreshing beverage has a wonderfully smooth black tea flavour but without any bitterness.&nbsp;ORIOR Refinement segmentThe ORIOR Refinement segment with the Rapelli, Albert Spiess and M&ouml;fag competence centres performed well during the first half of 2019 and generated revenues of CHF 127.2 million compared to CHF 125.9 million from the prior-year period, which corresponds to an organic growth rate of 1.1%. This revenue growth was driven by the pleasing development of existing and new customers, the good performance of branded products &ndash; especially "Rapelli", "Ticinella" and "myEnergy" &ndash; and by price markups in response to high raw material prices. The market and the general business environment remained difficult. Stiff competition and the changes retail customers are making to their sales promotion activities and product offerings are likewise important issues for the Refinement segment.&nbsp;Meat procurement operations remain challenging because of high price volatility and availabilities. Although ORIOR was not and is not directly affected by price markups in the wake of recent outbreaks of swine fever, the prices it is paying for pork meat in its domestic market are very high &ndash; this can be traced to Switzerlandʼs new animal husbandry regulations that came into effect in 2018. A slight reduction in pork prices is expected at the earliest in the autumn of 2019. Beef prices remained high, largely because of insufficient availabilities.&nbsp;Innovation highlights: In early May Rapelli opened its first shop-in-shop in Zurich &ndash; a scaled-down version of its Bottega Rapelli &ndash; to the delight of all shoppers who appreciate premium deli charcuterie specialities. The charming and authentic bottega atmosphere and freshly prepared specialities offer aficionados a completely new shopping experience. Shortly after opening this mini-bottega, Rapelli was able to install further bottega displays at numerous other points of sale. The "myEnergy" brand added another chapter to its success story. Its brand profile was enlarged with new products created by Albert Spiess as well as in collaboration with other competence centres, namely the veggie balls from Fredag. Albert Spiess also launched a new line of products that embody the magnificent mountains of the Grisons Alps, such as spicy salsiz sausages with chili cultivated by Swiss mountain farmers. M&ouml;fag launched a variety of successful new bacon and ham products under its F&uuml;rstenl&auml;nder Specialities brand and expanded into new sales channels.&nbsp;ORIOR International segmentThe ORIOR International segment consisting of the competence centre Culinor Food Group, the export business from Switzerland to neighbouring countries, and Biotta's subsidiary Gesa, generated first-half revenues of CHF 67.3 million compared to CHF 65.5 million in the prior-year period. Reported revenue growth reflected organic growth of 0.1%, a highly negative currency translation effect of 3.4% and an acquisition-led effect of 6.1% from the takeover of Gesa in May 2018. Thanks to innovation and steady efforts to improve efficiency, lower costs and optimise organisational structures, the International segment &ndash; Culinor Food Group in particular &ndash; was a key driver of Group profitability. Attention is drawn to the impressive and highly flexible flow of innovation at Culinor, Albert Spiess' B&uuml;ndnerfleisch exports to France, which have been on a positive trend thanks in part to the French economyʼs stabilisation over the past several years, and to the Biotta subsidiary Gesa, which increased its revenues. Gesa was thoroughly restructured during the first half of 2019, both structurally and organisationally, and an initial payback in terms of higher revenues and efficiency was seen during the first half.&nbsp;The market environment for the International segment is also very competitive and prices have been under pressure. On the sourcing front, positive and negative effects were fairly evenly balanced in the first half of the year.&nbsp;Innovation highlights: Culinor continued to launch trendy fresh ready-meal products, enlarging its line of ready meal options in collaboration with Pascale Naessens, Belgiumʼs popular proponent of healthy food, introducing entirely new concepts such as fresh fajitas and a new range of fully-prepared meals under the "Le Patron" brand for the Belgian market. Another Culinor success story is its "Pan for One" product, a combination of pre-cooked and fresh ingredients that can be conveniently prepared in a pan and is ready to eat within minutes.&nbsp;ORIOR 2025 StrategyThe ORIOR 2020 Strategy launched in the fall of 2015 has produced the desired results. Management has now initiated the strategy formulation process for the ORIOR 2025 Strategy, which will be unveiled at an investor day in the spring of 2020. The core elements of the current ORIOR strategy &ndash; "House of innovation", "Brand strengthening and expansion", "Agility and cost efficiency", "The ORIOR Responsibility" and "We are ORIOR" &ndash; will also be part of the 2025 Strategy as will the overriding aim of steady value creation to the benefit of all stakeholders.&nbsp;The ORIOR Responsibility: ORIORʼs first Sustainability Report publishedAt the end of 2017, ORIOR management decided to publish a sustainability report based on the internationally recognised Global Reporting Initiative GRI. With the release of its interim results for 2019, ORIOR publishes its first sustainability report in accordance with the GRI Standards: a significant and important step forward in the name of sustainability. Many projects are now underway in the designated priority areas of activity and they will help ORIOR to achieve its sustainability goals.&nbsp;New guidance as of FY 2019The Group's larger operational footprint has made it more resilient and with that in mind management intends to significantly broaden the guidance it provides, beginning with the publication of annual results for 2019. A quantitative target range will be given for Group revenues, EBITDA, tax rate and capex. Expected and actual developments regarding certain Group and segment topics of relevance will be described within the scope of qualitative guidance. These fixed topics will be addressed from a forward-looking and a retrospective standpoint as part of our reporting process (see notice regarding Swiss GAAP FER Plus). They will tentatively include the general market and business environment, raw materials, exchange rate developments, the companyʼs key drivers such as product lines, innovation, new product launches, major projects, initiatives and measures, and major challenges.&nbsp;Swiss GAAP FER Plus from FY 2019An additional set of information will be reported beginning with the results for fiscal 2019: FTEs, revenues by country and revenues generated with the four largest customers. As mentioned above, information regarding certain fixed topics at Group and segment level will also be given.　Key figures for ORIOR Group &ndash; first half 2019&nbsp;<table border="1" width="529" cellspacing="0"><tbody><tr><td valign="bottom" width="51%" height="20">in CHF thousand</td><td valign="bottom" width="16%" height="20">Jan &ndash; Jun 2019</td><td valign="bottom" width="15%" height="20">∆ in %</td><td valign="bottom" width="18%" height="20">Jan &ndash; Jun 2018&sup1;,&sup2;</td></tr><tr><td valign="middle" width="51%" height="22">Revenues</td><td valign="middle" width="16%" height="22">279'640</td><td valign="middle" width="15%" height="22">+2.2 %</td><td valign="middle" bgcolor="#D8D8D8" width="18%" height="22">273'742</td></tr><tr><td valign="middle" width="51%" height="17">EBITDA</td><td valign="middle" width="16%" height="17">28'419</td><td valign="middle" width="15%" height="17">+3.7 %</td><td valign="middle" bgcolor="#D8D8D8" width="18%" height="17">27'393</td></tr><tr><td valign="middle" width="51%" height="17">EBITDA in % of revenues</td><td valign="middle" width="16%" height="17">10.2 %</td><td valign="middle" width="15%" height="17">&nbsp;</td><td valign="middle" bgcolor="#D8D8D8" width="18%" height="17">10.0 %</td></tr><tr><td valign="middle" width="51%" height="17">Adj. EBITDA</td><td valign="middle" width="16%" height="17">28'419</td><td valign="middle" width="15%" height="17">+1.8 %</td><td valign="middle" bgcolor="#D8D8D8" width="18%" height="17">27'918</td></tr><tr><td valign="middle" width="51%" height="17">Adj. EBITDA in % of revenues</td><td valign="middle" width="16%" height="17">10.2 %</td><td valign="middle" width="15%" height="17">&nbsp;</td><td valign="middle" bgcolor="#D8D8D8" width="18%" height="17">10.2 %</td></tr><tr><td valign="middle" width="51%" height="17">EBIT</td><td valign="middle" width="16%" height="17">17'423</td><td valign="middle" width="15%" height="17">+7.1 %</td><td valign="middle" bgcolor="#D8D8D8" width="18%" height="17">16'265</td></tr><tr><td valign="middle" width="51%" height="17">EBIT in % of revenues</td><td valign="middle" width="16%" height="17">6.2 %</td><td valign="middle" width="15%" height="17">&nbsp;</td><td valign="middle" bgcolor="#D8D8D8" width="18%" height="17">5.9 %</td></tr><tr><td valign="middle" width="51%" height="17">Profit for the period</td><td valign="middle" width="16%" height="17">13'967</td><td valign="middle" width="15%" height="17">+7.4 %</td><td valign="middle" bgcolor="#D8D8D8" width="18%" height="17">13'008</td></tr><tr><td valign="middle" width="51%" height="17">Profit for the period in % of revenues</td><td valign="middle" width="16%" height="17">5.0 %</td><td valign="middle" width="15%" height="17">&nbsp;</td><td valign="middle" bgcolor="#D8D8D8" width="18%" height="17">4.8 %</td></tr><tr><td valign="middle" width="51%" height="17">Operating cash flow</td><td valign="middle" width="16%" height="17">20'827</td><td valign="middle" width="15%" height="17">&nbsp;</td><td valign="middle" bgcolor="#D8D8D8" width="18%" height="17">21'327</td></tr><tr><td valign="middle" width="51%" height="17">Cash conversion in %</td><td valign="middle" width="16%" height="17">73.3 %</td><td valign="middle" width="15%" height="17">&nbsp;</td><td valign="middle" bgcolor="#D8D8D8" width="18%" height="17">77.9 %</td></tr><tr><td valign="middle" width="51%" height="18">Net debt / EBITDA ratio</td><td valign="middle" width="16%" height="18">2.45x</td><td valign="middle" width="15%" height="18">&nbsp;</td><td valign="middle" bgcolor="#D8D8D8" width="18%" height="18">2.30x</td></tr></tbody></table>　1 Restated prior year figures due to change from IFRS to Swiss GAAP FER (see note 2, half-year report 2019).2 Restatement (see note 2, half-year report 2019).&nbsp;　OutlookWe expect for the second half of the year strong innovative new products, continued good brand sales and the purchase of an additional 35% stake in Casualfood. We intend to complete the second stage of the Casualfood acquisition in September 2019, after which Casualfood will be fully consolidated by ORIOR Group within the International segment.&nbsp;In the Swiss business, we expect the general market environment and the raw materials procurement situation to remain challenging. Our decision to withdraw from a contract in the Convenience segment that accounted for CHF 8.2 million in revenues will continue to have a negative impact on organic revenue growth in the second half. However, that decision along with the launch of many new products, further portfolio optimisation and a steadfast focus on margins, costs and efficiency will lead to a slight improvement in profitability. Moreover, all centres of competence in the Swiss market are expected to show a strong performance in terms of innovation and new product launches.&nbsp;ORIOR International segment should deliver a positive performance, fuelled by its business with existing and new customers and its full innovation pipeline. Moreover, we will follow through with the second purchase of an interest in Casualfood and integrate the company as an independent competence centre, which will create new opportunities for the entire Group. The market and the general operating environment are likely to remain more or less unchanged.&nbsp;In summary, we are confident the second half of the year will be a good one. We expect negative organic growth of 1 to 2% due to the aforementioned effect mentioned above. However, we will also be making great strides towards future growth, examples of which are the full consolidation of Casualfood, innovative new veggie products and ready-made meals, novel snack products and the relaunch of the "Albert Spiess" brand. High raw materials prices &ndash; especially for meat and poultry &ndash; and a most likely negative currency translation effect are expected to pressure profit margins. Nevertheless, thanks to the Groupʼs enlarged portfolio of activities and steady focus on healthy margins, operating profitability should be held at the healthy level achieved in the previous year.

<ul><li>Revenues increased by 2.2% to CHF 279.6 million</li><li>EBITDA increased by 3.7% to CHF 28.4 million; margin improved by 16 basis points</li><li>EBIT increased by 7.1% to CHF 17.4 million; margin improved by 29 basis points</li><li>Challenging Swiss market; good performance abroad</li><li>The ORIOR Responsibility: ORIORʼs first Sustainability Report published</li><li>Good outlook for the second half of 2019</li></ul>

A good first-half 2019 for ORIOR

Swiss pork is not affected by the compensation purchases from China and thus by the price increase in Europe due to increasing demand. ORIOR almost exclusively uses Swiss pork for its pork specialities (salami, raw ham, salsiz, etc.). The price of pork in Switzerland continues to be considerably higher than in other European countries, which makes export to China of the meat cuts that are of significance to ORIOR highly unlikely. Accordingly, the impact of swine fever on ORIOR is currently very low. For the first half of 2019, ORIOR expects a healthy growth in both the gross margin and EBITDA (absolute and as a percentage), with a slight improvement compared to the same period in the previous year and further potential for the second half of 2019, too. This outlook is supported on the one hand by our strategically direction-setting positioning with broad diversification, including new business models and product categories, and on the other by our consistent focus on sustainable margins. Revenues will increase in absolute terms, whereby due to our commitment to sustainable margins, business dealings in Switzerland that have become unprofitable will be discontinued and a marginal decline in organic growth of 1–2% will be taken into account.

With regard to the current events and media reports relating to the present outbreak of swine fever in China and the resulting uncertainty in the market, ORIOR would like to comment as follows.

Statement by ORIOR

ORIOR AG held its 9th Annual General Meeting as a listed company in Dübendorf today. The 605 shareholders who attended the meeting represented 4,133,733 of the voting rights or 63.43% of the outstanding share capital consisting of 6,517,499 shares.&#160;All of the Board of Directors' proposals were passed by the Annual General Meeting. The annual report, the annual accounts and the consolidated financial statements for 2018 were approved, as was the eighth consecutive increase in the dividend. The ordinary dividend payment of CHF 2.24 per registered share (previous year: CHF 2.17) will be paid on or around 17 April 2019.&#160;Shareholders subsequently elected the following previously serving Board members for another one-year term of office: Rolf U. Sutter as Chairman, Walter Lüthi and Monika Walser. Dr. iur.&#160;Markus R. Neuhaus, Monika Schüpbach and Markus Voegeli were elected to the Board of Directors as new members. Monika Walser, Rolf U. Sutter and Walter Lüthi were elected to the Compensation Committee. The Board of Directors appointed Monika Walser as chair of the Compensation Committee.&#160;Ernst &#x26; Young AG, Basel, was confirmed as auditor for the 2019 financial year and attorney-at-law René Schwarzenbach, Proxy Voting Services GmbH, was elected to serve as independent proxy until the conclusion of the next Annual General Meeting in 2020. Moreover, all proposals regarding compensation of the members of the Board of Directors and the Executive Committee were approved.　ContactMilena Mathiuet, Head of Corporate Communications &#x26; Investor Relations Phone: +41 44 308 65 13, e-mail: investors@orior.ch&#160;Investor Calendar19 August 2019: publication half year results and half year report 201931 March 2020: Annual General Meeting ORIOR AG

The Board of Directors of ORIOR AG has named Andreas Lindner the new CFO and a member of the Executive Committee of the ORIOR Group.&nbsp;Andreas Lindner (1965) is Swiss and currently serves as CFO and a member of the Executive Board of the Ricola Group in Laufen (Basel). Andreas Lindner&nbsp;holds a degree in economics from the University of Basel and began his professional career at the pharmaceuticals company Roche, where he held various finance-related positions in Basel, Buenos Aires and Montevideo. Before joining Ricola in 2008, he had previously also served as CFO of M&ouml;venpick Fine Foods Division and as CFO of AO Foundation / Synthes Technology AG. His thorough and sound financial knowledge, his strategic skills and many years of experience as CFO of internationally operating Swiss companies with long and rich tradition are quite exceptional.&nbsp;Andreas Lindner will assume the CFO position of ORIOR in October 2019. Until then, Bernhard Pfulg will continue to lead ORIOR Group's finances on an ad interim basis.&nbsp;The Board of Directors and the Executive Committee thank Bernhard Pfulg for his strong dedication and for the continuity and high level of professionalism that have distinguished his ad interim leadership of the Group's finance department. At the same time, the ORIOR team is pleased to have found in Andreas Lindner a strong personality with a proven track record for this demanding position.　ContactMilena Mathiuet, Head of Corporate Communications &amp; Investor Relations Phone: +41 44 308 65 13, e-mail: investors@orior.ch&nbsp;Investor Calendar11 April 2019: Annual General Meeting ORIOR AG19 August 2019: publication half year results and half year report 2019

Change in ORIOR AG's Executive Committee

The <a href="http://www.orior.ch/en/investor-relations/annual-general-meeting/">invitation to the Annual General Meeting of ORIOR AG</a> is now available on the website. It includes short resumes of the nominees for the Board of Directors and further information on the proposals related to board compensation.

Annual General Meeting

Strategically and operationally successful year 2018&nbsp;The internationally active Swiss food and beverage group ORIOR presents an operationally successful and strategically direction-setting 2018. Its good operating performance was well supported by all segments. ORIOR has optimally positioned itself for the future with its acquisition of Biotta, a pioneering Swiss organic juice producer, and the purchase of an initial interest in Casualfood, a pioneer in the small-format, food service to-go market for travellers.&nbsp;ORIOR Group generated revenues of CHF 576.7 million in the reporting period, which corresponds to an increase of 6.9% from the previous year. Factoring out the effect of the Biotta acquisition (+3.9%) and the positive currency translation effect of 0.9%, organic sales growth amounted to 2.1%. The Group's broadly based growth was supported by every segment: thanks to efforts on the core strategic pillars &ndash; innovation in particular &ndash; and the shared progress made in implementing various initiatives, action plans and concepts by the intradisciplinary ORIOR Champion Groups. Particular attention is drawn to the pleasing developments in the retail and food service channels as well as to the Convenience segment's exceptionally good performance. Negative impacts from the volatile raw materials situation, where prices for beef and poultry were unusually high, and from the low yields in fruit and vegetables and unrelenting high pricing and competitive pressure were not completely offset by the above positive developments. The gross profit margin receded 53 basis points to 44.0%. EBITDA rose by 4.9% to CHF 58.6 million (previous year CHF 55.8 million) thanks to cost discipline, portfolio management and improved productivity and sustainability metrics, resulting in an EBITDA margin of 10.2%. Factoring out acquisition-related and extraordinary items, the EBITDA margin stood at 10.3%, nearly unchanged from the prior-year level of 10.4%. EBIT rose by 15.5% year-on-year to CHF 35.6 million, fuelled in particular by a good operating performance and the amortisation of intangibles related to past acquisitions. Net profit increased from CHF 25.3 million in the previous year to CHF 31.8 million. Besides the aforementioned positive EBIT effects, this net profit growth was primarily driven by optimised financing structures, favourable exchange-rate impacts and positive non-recurring income tax effects.&nbsp;Operating cash flow for the period under review amounted to CHF 52.7 million compared to CHF 55.7 million in the previous year. This change is largely due to the seasonality of Biotta's business with inventories peaking at year-end for harvest-related reasons and to the higher cost of inventory items at the Refinement segment. Cash conversion stood at 90.0%. ORIOR Convenience segmentThe ORIOR Convenience segment with the Fredag, Le Patron, Pastinella and Biotta centres of competence performed well during the year under review and delivered a 14.1% increase in revenues to CHF 205.7 million. A primary driver of this growth was on the one hand the acquisitive growth of 8.5% related to the consolidation of Biotta, a specialist producer of wholesome organic vegetable and fruit juices, as of mid-May 2018. On the other hand, the existing competence centres generated very good organic growth of 5.6%. Attention here is drawn to the pleasing food service business as well as to product and concept innovations &ndash; first and foremost regional products, vegetarian specialities and fresh al dente pasta. The gross margin edged slightly lower primarily because of the rising costs of raw materials. A hot and dry summer reduced yields in vegetables and fruits and the growing demand for poultry going back numerous years led to an increase in these procurement costs that we could not pass through to customers.&nbsp;ORIOR Refinement segmentThe ORIOR Refinement segment with the Rapelli, Albert Spiess and M&ouml;fag competence centres delivered a good performance &ndash; considering the volatile meat prices &ndash; with revenues coming in at CHF 255.0 million. Compared to the CHF 251.5 million in revenues from the previous year, this corresponds to organic growth of 1.4%. This good performance was supported by almost every sales channel and both the food service and retail channels reported year-on-year growth. The impressive growth of new products, for example "myEnergy" branded snack products, ranked among the segment's highlights for the year. Sales of its traditional branded products continued to grow as well, led by "Ticinella's" strong momentum over the year. Attention is also drawn to the positive developments with organic products and specialities such as B&uuml;ndnerfleisch carpaccio and with ham and bacon creations. Challenging conditions on the raw materials front were particularly evident in the Refinement segment and weighed on its profitability, which retreated in all three of the segment's units. Volatile and high prices for pork and beef, market consolidation and intense competition leading to pressure on selling prices were the main reasons for the reduced profitability.&nbsp;ORIOR International segmentThe ORIOR International segment includes the centre of competence Culinor, the Biotta subsidiary Gesa and the Swiss export activities targeting neighbouring countries, generated revenues of CHF 137.7 million, which corresponds to an increase of 10.4% from the previous year. The two main drivers of this growth were Biotta's German subsidiary Gesa, which joined the ORIOR family in mid-May 2018 and lifted segment revenues by 4.8%, and a positive currency translation effect of 3.9%. The International segment achieved organic growth of 1.6% despite stiff competition and pressure on prices. Disciplined efforts to optimise the portfolio mix by focusing on products with sustainable margins and the launch of appealing innovations such as the "PURE" convenience line in Belgium contributed to the good sales trends and fully offset the announced withdrawal from a substantial but low-margin mashed potato contract. The hot, dry summer was challenging as it diminished crops and yields in vegetables used to produce juice in Germany, which had a negative impact on the gross profit margin.&nbsp;Direction-setting strategic move by the GroupIn mid-May 2018 ORIOR acquired Biotta, a pioneering Swiss producer of organic beverages, a move that gave it a presence in the growing premium niche of organic beverages while strengthening its international business and diversifying its overall product, market and customer portfolios. ORIOR increased its share capital by nearly 10% in March 2018 to finance part of this acquisition, utilising the existing authorised share capital. In the fall ORIOR successfully realised its long-planned entry into the very dynamic food service to-go market by acquiring an initial 35% interest in Casualfood and moved another step closer to consumers.Casualfood is a pioneer for small-format food outlets &ndash; primarily at airports in Germany, where it operates fresh food islands and snackmobiles under its own brand concepts for travellers &ndash; and thus enhances the existing innovation skills and food service competence of the entire ORIOR Group. It is planned to acquire a majority interest in the fall of 2019, after which Casualfood will be fully consolidated. The Board of Directors and the Executive Committee have decided that after ORIOR acquires a majority interest in Casualfood, it will not be represented on ORIOR's Executive Committee as initially planned but rather on the new Extended Executive Committee, which was formed on 1 January 2019.&nbsp;New management structureManagement structures were strengthened throughout the growing organisation; the current Executive Committee (former Management Board) has been supported by a new executive body &ndash; the Extended Executive Committee &ndash; since 1 January 2019, primarily to strengthen the further strategic development of the entire Group. The established Swiss Management Committee (former Extended Management Team) will continue to ensure the successful development of the Swiss business. The intradisciplinary ORIOR Champion Model will play a key role here.&nbsp;Transition to Swiss GAAP FERThe company switched its accounting standards from IFRS to Swiss GAAP FER as of 31 December 2018. The most significant changes concern the reporting of pension-fund liabilities and the treatment of intangible assets and goodwill. The reasons for switching to Swiss GAAP FER are the increasing complexity of IFRS and the significant additional administrative burden and costs associated with IFRS. ORIOR's firm commitment to financial reporting transparency in accord with the principle of "true and fair" has not changed with this decision.&nbsp;Renewed increase in the dividendORIOR is committed to maintaining a constant and predictable dividend distribution; its dividend has been steadily increased since its IPO in 2010. The Board of Directors will propose another increase in the dividend to CHF 2.24 per share at the Annual General Meeting on 11 April 2019. The dividend will be paid out from capital contribution reserves and is therefore exempt from withholding tax.&nbsp;Key figures for ORIOR Group &ndash; financial year 2018&nbsp;<table border="1" width="529" cellspacing="0"><tbody><tr><td valign="bottom" width="51%" height="20">in CHF thousand</td><td valign="bottom" width="16%" height="20">2018</td><td valign="bottom" width="16%" height="20">∆ in %</td><td valign="bottom" width="16%" height="20">2017&sup1;Restated&sup2;</td></tr><tr><td valign="middle" width="51%" height="22">Revenues</td><td valign="middle" width="16%" height="22">576'650</td><td valign="middle" width="16%" height="22">+6.9%</td><td valign="middle" bgcolor="#D8D8D8" width="16%" height="22">539'394</td></tr><tr><td valign="middle" width="51%" height="17">EBITDA</td><td valign="middle" width="16%" height="17">58'573</td><td valign="middle" width="16%" height="17">+4.9%</td><td valign="middle" bgcolor="#D8D8D8" width="16%" height="17">55'838</td></tr><tr><td valign="middle" width="51%" height="17">in % of revenues</td><td valign="middle" width="16%" height="17">10.2%</td><td valign="middle" width="16%" height="17">&nbsp;</td><td valign="middle" bgcolor="#D8D8D8" width="16%" height="17">10.4%</td></tr><tr><td valign="middle" width="51%" height="17">Adj. EBITDA</td><td valign="middle" width="16%" height="17">59'325</td><td valign="middle" width="16%" height="17">+6.2%</td><td valign="middle" bgcolor="#D8D8D8" width="16%" height="17">55'838</td></tr><tr><td valign="middle" width="51%" height="17">Adj. EBITDA in % of revenues</td><td valign="middle" width="16%" height="17">10.3%</td><td valign="middle" width="16%" height="17">&nbsp;</td><td valign="middle" bgcolor="#D8D8D8" width="16%" height="17">10.4%</td></tr><tr><td valign="middle" width="51%" height="17">EBIT</td><td valign="middle" width="16%" height="17">35'578</td><td valign="middle" width="16%" height="17">+15.5%</td><td valign="middle" bgcolor="#D8D8D8" width="16%" height="17">30'812</td></tr><tr><td valign="middle" width="51%" height="17">in % of revenues</td><td valign="middle" width="16%" height="17">6.2%</td><td valign="middle" width="16%" height="17">&nbsp;</td><td valign="middle" bgcolor="#D8D8D8" width="16%" height="17">5.7%</td></tr><tr><td valign="middle" width="51%" height="17">Profit for the year</td><td valign="middle" width="16%" height="17">31'819</td><td valign="middle" width="16%" height="17">+25.8%</td><td valign="middle" bgcolor="#D8D8D8" width="16%" height="17">25'285</td></tr><tr><td valign="middle" width="51%" height="17">in % of revenues</td><td valign="middle" width="16%" height="17">5.5%</td><td valign="middle" width="16%" height="17">&nbsp;</td><td valign="middle" bgcolor="#D8D8D8" width="16%" height="17">4.7%</td></tr><tr><td valign="middle" width="51%" height="17">Operating cash flow</td><td valign="middle" width="16%" height="17">52'717</td><td valign="middle" width="16%" height="17">&minus;5.3%</td><td valign="middle" bgcolor="#D8D8D8" width="16%" height="17">55'676</td></tr><tr><td valign="middle" width="51%" height="17">Cash conversion in %</td><td valign="middle" width="16%" height="17">90.0%</td><td valign="middle" width="16%" height="17">&nbsp;</td><td valign="middle" bgcolor="#D8D8D8" width="16%" height="17">99.7%</td></tr><tr><td valign="middle" width="51%" height="18">Dividend per share in CHF</td><td valign="middle" width="16%" height="18">2.24</td><td valign="middle" width="16%" height="18">&nbsp;</td><td valign="middle" bgcolor="#D8D8D8" width="16%" height="18">2.17</td></tr><tr><td valign="middle" width="51%" height="18">Market capitalisation as per year-end</td><td valign="middle" width="16%" height="18">519.4</td><td valign="middle" width="16%" height="18">&nbsp;</td><td valign="middle" bgcolor="#D8D8D8" width="16%" height="18">457.1</td></tr></tbody></table>　1 Restated prior year figures due to change from IFRS to Swiss GAAP FER.2 Restatement.&nbsp;Change in the Board of DirectorsDominik Sauter, a member of the Board of Directors of ORIOR AG, will not be standing for re-election. As the representative of EGS Beteiligungen AG, he helped guide ORIOR past many milestones during his six years of service on the Board of Directors. The Board of Directors will propose the election of entrepreneur Monika Sch&uuml;pbach as a new director at the Annual General Meeting on 11 April 2019. The Board of Directors will also propose the election of Markus Voegeli, an internationally experienced CEO, CFO and entrepreneur, to fill the seat vacated in June of 2018 when Josef Ming resigned.&nbsp;As announced in October 2018, Prof. Dr. Edgar Fluri, Vice Chairman of the Board of Directors, will not be standing for re-election after nine years of service to ORIOR. We are deeply grateful to Mr. Fluri for his many years of valuable service on the board, including as Vice Chairman of the Board and as Chairman of the Audit Committee. The Board of Directors has nominated financial expert Dr. iur. Markus R. Neuhaus as his successor. ORIOR plans to name Mr. Neuhaus the Chairman of the Audit Committee.&nbsp;OutlookGeneral conditions remain very challenging. We expect renewed volatility in raw material prices in the current year and unrelenting fierce competition that will keep prices under pressure. We will continue to steadfastly develop and implement initiatives and measures under the ORIOR 2020 strategy during 2019. We will also further strengthen our brands and maintain our focus on innovation and new product concepts and services. Group-wide projects that enhance our agility and improve our productivity and efficiency will be pursued as well. The ongoing development of the Biotta group and the expected second stage of the acquisition of Casualfood will create additional, novel business opportunities. In summary, we are confident that we can create further sustainable value for our stakeholders in 2019.

<ul><li>Revenues increased by 6.9% to CHF 576.7 million.</li><li>EBITDA increased 4.9% to CHF 58.6 million; EBIT increased 15.5% to CHF 35.6 million.</li><li>Group net profit up 25.8% to CHF 31.8 million.</li><li>Acquisition of Swiss organic pioneer Biotta gave ORIOR a strong foothold in the growing niche of premium organic beverages and further strengthened its international business.</li><li>Entry into a highly specialised niche of the very dynamic food service to-go segment; gradual acquisition of Casualfood will strengthen the Group's food service competence and innovation power.</li><li>Election of new directors proposed.</li><li>Renewed increase in the dividend to CHF 2.24 per share proposed.</li></ul>

ORIOR looks back on an operationally successful and strategically direction-setting year

Ricarda Demarmels, CFO of ORIOR Group and a member of the Executive Committee, has decided to step down from her role at the end of May 2019 to pursue a new challenge. During her time at ORIOR Ricarda Demarmels was jointly responsible for formulating and executing the 2020 strategy and she played a key role in planning and advancing ORIOR's general development and internationalization. The Board of Directors and the Executive Committee regret Ricarda Demarmels' decision and thank her for her valuable service and wish her all the best in her future endeavours, both personal and professional. Ricarda Demarmels will go on maternity leave in a few weeks.&#160;The position of Group CFO will be assumed ad interim by Bernhard Pfulg, Financial Officer and COO of the ORIOR Convenience Segment and a member of the Extended Management Team, effective mid-December 2018. In this function he will also assume a seat on the Extended Executive Committee of ORIOR Group. Bernhard Pfulg will ensure continuity in the performance of the duties of CFO thanks to his many years of service to ORIOR in various key roles and to his vast experience as a financial specialist. Bernhard Pfulg will be supported by the Group's broad team of well-qualified financial experts.

ORIOR was notified that UBS Fund Management (Switzerland) AG has exceeded the 10% voting rights threshold. Its shareholding of 8.86% as notified in July 2018 has increased to 10.51%. According to the disclosure notification, the trigger was the RoPAS (CH) Institutional Fund – Equities Switzerland, which is under the administration of UBS Fund Management (Switzerland) AG, and now holds 6.29% of ORIOR's shares.

Major shareholder

ORIOR's shareholder base has grown with the addition of new institutional investors who participated in an accelerated bookbuilding that was completed yesterday evening. The selling shareholder was EGS Beteiligungen AG, which decided to sell its position in ORIOR for strategic reasons after a recent periodic review of its asset allocation. After completion of the institutional placement, ORIOR was informed that all shares held by EGS Beteiligungen AG have been successfully placed in the market; this therefore raises the free float of ORIOR shares.&#160;Rolf U. Sutter, Chairman of the Board of Directors, expresses his gratitude to EGS Beteiligungen AG on behalf of everyone at ORIOR: “EGS Beteiligungen AG has consistently and professionally followed ORIOR's development since 2012 and supported many of the strategic milestones ORIOR has achieved during this time.” Dominik Sauter, CEO of EGS Beteiligungen AG, likewise appreciated the fruitful relationship: “We are grateful and proud that we were able to be part of the remarkable and successful journey that ORIOR Group has taken over the past few years.”

ORIOR welcomes new shareholders

Change in the Board of DirectorsAs planned, Prof. Dr. Edgar Fluri, Vice Chairman of the Board of Directors of ORIOR AG, is not standing for re-election at the upcoming Annual General Meeting on 11 April 2019. Mr. Fluri supported ORIOR to achieve key milestones during his more than&#160;eight years of service with ORIOR as a director, Chairman of the Audit Committee and during the past&#160;two years as Vice Chairman of the Board of Directors. We are deeply grateful to him for his many years of valuable service and guidance.&#160;The Board of Directors of ORIOR AG decided at today's Meeting to propose the election of Dr. iur. Markus R. Neuhaus as new member of the Board of Directors to the Annual General Meeting on 11 April 2019, with effect from 1 July 2019. Mr. Neuhaus will step down from his current role as Chairman of the Board of Directors of PwC Switzerland and a member of the Supervisory Board of PwC Europe in the end of June 2019. His impressive professional career began in 1985, when he joined PwC Switzerland as a tax law specialist. Seven years later, Mr. Neuhaus was promoted to partner and subsequently held various positions at PwC Switzerland and PwC Global: for nine years he served as CEO of PwC Switzerland, responsible for managing all operations within the country; he was the head at PwC Continental Europe and held seats on the PwC Global Board, the PwC Global Leadership Team and the PwC Office of the Global Chairman. His profound finance and accounting knowledge, his many years of executive experience and his extensive strategic track record are truly exceptional. ORIOR plans to designate Mr. Neuhaus Chairman of the Audit Committee.&#160;Executive structure strengthened&#160;Group CEO Daniel Lutz is strengthening ORIOR's management structure in response to its growing business. The current Executive Committee (former Management Board) will be supported by a new executive body – the Extended Executive Committee – as of 1 January 2019 to strengthen the further strategic development of the entire Group. Its new members are Max Dreussi, Head of Fredag, Glauco Martinetti, Head of Rapelli, and Milena Mathiuet, Head of Corporate Communications &#x26; Investor Relations. The established Swiss Leadership Team (former Extended Management Team) will remain in place to ensure the successful operational development of the Swiss business. One of its critical tasks is managing and actively developing the ORIOR Champion Model, by which intradisciplinary collaboration and knowledge transfer among the various centres of competence are promoted and specific goals and action plans formulated to ensure sustained value creation.

Change in the Board of Directors and strengthened management structure

ORIOR is acquiring a 35% interest in Casualfood, giving it a strong foothold in a highly specialized niche of the fast-growing food service to-go market. Casualfood is a creative company with proprietary brand concepts that pioneered the introduction of small scale food islands and mobile carts offering fresh prepared quality food to-go for travellers. With this acquisition, ORIOR is realizing its long-envisioned strategic expansion into the highly dynamic food service to-go market in the fresh convenience segment and connecting directly with consumers. Casualfood strengthens ORIOR Group's food service competencies and innovation power and creates new business opportunities.&#160;True to its motto “The taste of travelling”, Casualfood's core competency revolves around the customized, location-specific establishment and operation of mobile and stationary grab-and-go food islands with proprietary, innovative brand concepts targeting the travel gastronomy market. Casualfood's offering is uncomplicated and optimally aligned with the latest food trends among travellers on the go: freshly prepared, quality specialties ranging from trendy sandwiches and salads to muesli, smoothies and much more. Being so close to the consumer with a flexible setup allows the multi-concept product offering at individual sites to be quickly and flexibly adapted to fluctuations in foot traffic and consumer needs to suit different requirements. With this unique and pioneering business model, which&#160;was honored with the Hamburg Foodservice Award, Casualfood has positioned itself in the middle of the “mobility” mega trend as well as the “Convenience 3.0”, “Out of Home” and “Snacking” food trends.&#160;Founded thirteen years ago, Casualfood generates annual revenues of about € 52 million, primarily in its domestic German market, with more than 700 employees and operates 58 food islands, mostly at airports. Casualfood has steadily increased the number of new locations and there is still further growth potential in Germany. Additionally new locations have also been successfully established outside the company's domestic market, for example at Slovenia's Ljubljana Airport in 2016.&#160;Under the terms of the share purchase agreement, ORIOR's interest in Casualfood will be increased in several stages to 100% over the next few years. ORIOR Group will hold a majority interest in Casualfood and fully consolidate its participation from autumn 2019 onwards. The acquisition will be financed with freely available cash and existing lines of credit.&#160;Casualfood will operate as an independent centre of competence within the ORIOR International segment. Its two founders Stefan Weber and Michael Weigel will stay on with the company as shareholders and managing directors. This strategically important new business unit will also be represented in ORIOR Group's top-level management (Management Board) once a controlling interest has been acquired.&#160;CEO Daniel Lutz touts the excellent fit with ORIOR's strategic focus and the Group's optimal positioning for the future: “This acquisition brings us in direct contact with the consumer. That gives us exceptional opportunities to detect and latch on food trends with far more speed and agility than before and then funnel that knowledge into new brand and product concepts. At the same time Casualfood strengthens our competencies in the food service business, expands our presence on the European continent and enhances our innovation power. Casualfood's management team is also a perfect match for ORIOR, given its pioneering spirit, its unconventional hands-on philosophy and profound entrepreneurial mindset.”

ORIOR strenghens its food service and European business

ORIOR, the internationally active Swiss food and beverage Group that combines craftsmanship with a pioneering spirit underpinned by entrepreneurship and strong values, achieved good results in the first half of 2018. The ORIOR 2020 strategy is clearly gaining traction and progress is being made towards all the given goals.&#160;ORIOR Group generated revenues of CHF 273.7 million during the first half of 2018, up from CHF 259.1 million in the first half of the previous year. This revenue growth of 5.6% stemmed from good organic growth of 2.1%, acquisition-led growth of 1.6% and a positive currency effect of 2.0%. The good organic growth rate was fuelled by numerous initiatives and a steady focus on innovation, brands and customer relationship management. EBITDA receded to CHF 27.2 million from CHF 27.7 million in the first half of 2017, which is attributed to acquisition-related transaction and extraordinary costs; excluding these non-recurring costs, EBITDA rose by 3.7% year-on-year to CHF 28.7 million and the EBITDA margin declined slightly by 19 basis points to 10.5%. This primarily reflects the gross profit margin, which was impacted during the period under review by high meat prices, higher commodity and packaging materials costs, and the weakening of the Swiss franc. A strict focus on efficiency gains made a positive contribution to operating performance. Adjusted net profit for the period rose by 3.2% year-on-year to CHF 15.3 million and the corresponding profit margin declined slightly by 13 basis points.&#160;The strategically important acquisition of Biotta is part of the Convenience and International segments for reporting purposes. The related acquisition costs are therefore also allocated to these two segments.&#160;&#160;The new shares issued in early March to finance part of the Biotta acquisition, equivalent to nearly 10% of total share capital, were successfully absorbed by the market.&#160;The mandatory adoption of the new IFRS 15 standard regarding the recognition of revenue led to a reduction in recognised revenue of CHF 22.8 million for the period under review and a concurrent reduction in cost of goods and materials. Neither adjustment had an impact on net profit, the consolidated balance sheet or the cash flow statement. The figures for the prior-year period were accordingly restated with CHF 22.2 million.&#160;ORIOR SwitzerlandThe challenging environment in Switzerland, especially in the retail sector, is slowly stabilising. Minor ongoing consolidation in the market and persisting intense competitive pressure were offset by strong innovation and positive brand as well as customer relationship developments. This led to a good, broadly based growth.&#160;The ORIOR Convenience segment performed very well during the period under review. It reported strong revenues of 94.1 million, up 9.2% from CHF 86.2 million in the prior-year period. This growth reflects high organic growth of 5.7% and an acquisition effect of 3.6%. Innovative new ultra-fresh meals and meal components, vegetarian specialities and positive customer relationship trends were the primary drivers of this good performance. Segment EBITDA was impacted by the allocation of transaction and extraordinary costs. Adjusted EBITDA rose from CHF 12.1 million in the first half of 2017 to CHF 13.4 million in the period under review and the corresponding margin improved by 23 basis points.&#160;&#160;&#160;The ORIOR Refinement segment performed well during the first half of 2018. Attention is drawn to innovations such as “My Energy Beef”, which was rolled out nationwide, and the ongoing pleasing developments at the “Rapelli” and “Ticinella” brands. The Refinement segment increased its revenues in the first half of 2018 by 3.6% to CHF 125.9 million. Market developments – continued high meat prices due to tight supply, which only heightened competition on the procurement front – continued to affect this segment. Its EBITDA declined by 7.3% to CHF 9.8 million (1H 2017: CHF 10.6 million) and the EBITDA margin came in at 7.8%, 92 basis points below the level reported for the prior-year period.&#160;ORIOR InternationalThe ORIOR International segment performed well in line with expectations. Segment revenues totalled CHF 65.5 million compared to CHF 58.6 million in the prior-year period, an increase of 11.7%. This revenue growth stemmed from organic growth of 0.8%, an acquisition effect of 2.2% from Biotta subsidiary Gesa in Germany, and a currency translation effect of 8.7%. Culinor Food Group experienced strong demand for its “Lovely Meals” line of ultra-fresh meals, its new “Pure” product line and its meal home delivery services. Exports of Bündnerfleisch showed strong growth thanks to new customers. Factoring out the allocated transaction costs, EBITDA amounted to CHF 5.6 million and the corresponding margin declined slightly by 11 basis points due to changes in the product mix.&#160;&#160;ORIOR Group's key figures for the first half of 2018&#160;<table border="1" cellpadding="0" cellspacing="0" width="491"><tbody><tr><td width="179">In CHF thousand&#160;</td><td width="132">Jan – Jun 2018&#160;</td><td width="66">∆ in %&#160;</td><td width="113">Jan – Jun 2017Restated</td></tr><tr><td width="179">Net revenues</td><td width="132">273,742 </td><td valign="top" width="66">+5.6%</td><td width="113">259,110 </td></tr><tr><td width="179">EBITDAas a % of revenues</td><td width="132">27,2249.9%</td><td width="66">–1.8%&#160;</td><td width="113">27,71210.7%</td></tr><tr><td width="179">Adjusted EBITDA¹as a % of revenues</td><td width="132">28,74910.5%</td><td width="66">+3.7%&#160;</td><td width="113">27,71210.7%</td></tr><tr><td width="179">Adjusted profit before tax¹as a % of revenues</td><td width="132">18,6996.8%</td><td width="66">+11.3%&#160;</td><td width="113">16,7966.5%</td></tr><tr><td width="179">Adjusted net profit¹as a % of revenues</td><td width="132">15,3085.6%</td><td width="66">+3.2%&#160;</td><td width="113">14,8335.7%</td></tr></tbody></table>&#160;¹ Excludes acquisition-related transaction and extraordinary costs&#160;&#160;OutlookThe ORIOR 2020 strategy confirmed in June of 2018 will continue to be steadfastly implemented. A variety of measures and projects within ORIOR's strategic goals and its group-wide Champion Model are the key elements of this strategy. ORIOR reiterates the targets it has set out to achieve with the strategy and will continue to steadily create value for all stakeholders. We expect a good second half year.&#160;Accounting standard switched to Swiss GAAP FERAt its meeting on 21 August 2018 the Board of Directors decided to switch the Group's accounting standard from IFRS to Swiss GAAP FER as of the 31 December 2018 reporting date.The formal request will be submitted to the SIX Swiss Exchange in the coming days. The methods used for balance sheet purposes will remain the same. The most significant changes concern the reporting of pension-fund liabilities and the treatment of intangible assets and goodwill. Under the new accounting standard, total assets in the balance sheet as of 31.12.2017 amount to approximately CHF 343 million and the equity ratio to approximately 25%; equity is lower primarily due to the retroactive write-off of intangible assets and the offsetting of goodwill against equity. A detailed reconciliation will be included with the financial statements for the 2018 fiscal year.&#160;The reasons for the adoption of Swiss GAAP FER are the increasing complexity of IFRS and the ensuing substantial administrative costs. With this decision, ORIOR remains firmly committed to financial reporting transparency in accord with the principle of “true and fair”.&#160;Invitation to teleconferenceToday, 22 August 2018 at 3.00 p.m. (CEST), Daniel Lutz (CEO) and Ricarda Demarmels (CFO) are holding a conference call to discuss the first half of 2018. We cordially invite you to take part.Please dial the following number to participate: Telephone: + 41 58 262 07 22Please state your full name and the name of your organisation. The PIN code is: 991222&#160;Download Links:<a href="http://www.orior.ch/en/investor-relations/financial-publications/">Half Year Report 2017</a><a href="http://www.orior.ch/en/investor-relations/presentations/">Presentation on the first half</a><a href="http://www.orior.ch/en/news-media/image-gallery/">Image Gallery</a>&#160;ContactMilena Mathiuet, Head of Corporate Communications &#x26; IRTelephone +41 44 308 65 13, email: investors@orior.ch&#160;Investor Calendar4 March 2019: Publication of annual results 201811 April 2019: Annual General Meeting

<ul><li>Group sales up 5.6% to CHF 273.7 million</li><li>Organic growth of 2.1% supported by every segment</li><li>Adjusted EBITDA increased 3.7% to CHF 28.7 million (excluding transaction and other non-recurring costs related to the Biotta acquisition)</li><li>Successful acquisition of Biotta</li></ul>

ORIOR growing in every segment

ORIOR's two-day Investor Event brought investors and analysts to Culinor Food Group in Destelbergen, Belgium. They were immersed into the world of Culinor with in-depth market information and tours of Culinor Food Group's main production site and its “Depot 52” logistics centre. An exclusive tasting of Culinor products at the “ORIOR House” rounded out the event. Filip De Spiegeleire, founder and CEO of Culinor Food Group and a member of ORIOR AG's Management Board, explained the philosophy and special facets of the young and highly dynamic enterprise in his detailed presentation.&#160;ORIOR 2020 strategy on trackCEO Daniel Lutz and CFO Ricarda Demarmels confirmed the ORIOR 2020 strategy and outlined the rigorous and disciplined execution of the strategy. Since the initiation of the strategy in the autumn of 2015, ORIOR has been working hard on every strategic front. With success, as an initial review of the results indicates. Scores of projects and measures have had a positive impact on all the objectives set out in ORIOR 2020 over the past two-and-a-half years. Management therefore confirms the ORIOR 2020 strategy and the given objectives.&#160;Download<a href="https://e2.marco.ch/publish/orior/249_1044/Presentation_Investor_Event_Belgium_13.06.2018.pdf?TensidTrafficShaper=1&#x26;f=Presentation_Investor_Event_Belgium_13.06.2018.pdf">Presentation ORIOR 2020 strategy</a>

ORIOR hosts successful Investor Event at Culinor Food Group in Belgium

Josef Ming, a member of the Board of Directors of ORIOR AG, has submitted his resignation effective immediately due to personal reasons. He regrets having to make this decision. The Board of Directors deeply appreciated his expertise and wishes him all the best in his personal and professional life.

Change in the Board of Directors

On 26 March 2018, ORIOR Menu AG («Offeror») published an offer («Offer») for all publicly held registered shares of Thurella AG with a nominal value CHF&#160;50.00 each («Registered Shares»). The offer price for each Registered Share amounts to CHF 148.00 net in cash (the original offer price of CHF 150.00 was reduced by the cash distribution of Thurella AG of CHF&#160;2.00 per Registered Share paid on 2 May 2018).&#160;Until the end of the additional acceptance period on 11 Mai 2018, 16:00, 134,095 Registered Shares were tendered to the Offeror. This corresponds to 95.06% of all Registered Shares to which the Offer relates. Including the 265,375 Registered Shares to be acquired by the Offeror under the conditional share purchase agreements with the main shareholders of Thurella AG and the 920 own Registered Shares held by Thurella AG or its subsidiaries, the participation quota of the Offeror amounts to 98.29% of all issued Registered Shares and voting rights of Thurella AG at the end of the additional acceptance period.&#160;The payment of the offer price for the Registered Shares tendered during the offer period and the additional acceptance period will be made on 17 May 2018.&#160;As described in section C.7 of the offer prospectus, a squeeze-out merger with cash compensation shall be carried out in a further step. As a result of the merger by absorption, Thurella AG will be fully integrated into the ORIOR Group and the remaining shareholders receive a cash compensation.&#160;Additional informationThe offer prospectus of 23 March 2018 (in German) is available at <a href="http://www.orior.ch/de/investor-relations/angebotsprospekt-thurella/">www.orior.ch/de/investor-relations/angebotsprospekt-thurella/</a>.

End result of the offer by ORIOR Menu AG, a Company of the ORIOR Group, for all publicly held registered shares of Thurella AG

On 26 March 2018, ORIOR Menu AG («Offeror») published an offer («Offer») for all publicly held registered shares of Thurella AG with a nominal value CHF&#160;50.00 each («Registered Shares»). The offer price for each Registered Share amounts to CHF 150.00 net in cash, less the gross amount of any dividends (or other dilutive effects), except for the spin-off of Thurella Immobilien AG, which occurs prior to the completion of the Offer.&#160;Until the end of the offer period on 24 April 2018, 16:00, 95,952 Registered Shares were tendered to the Offeror. This corresponds to 68.02% of all Registered Shares to which the Offer relates. Including the 265,375 Registered Shares to be acquired by the Offeror under the conditional share purchase agreements with the main shareholders of Thurella AG and the 920 own Registered Shares held by Thurella AG or its subsidiaries, the participation quota of the Offeror amounts to 88.93% of all issued Registered Shares and voting rights of Thurella AG at the end of the offer period.&#160;The additional acceptance period begins on 26 April 2018 and ends on 11 Mai 2018, 16:00. The Offeror reserves the right to extend the additional acceptance period. The payment of the offer price for the Registered Shares tendered during the offer period and the additional acceptance period is scheduled for 17 May 2018 and is subject to fulfilment of all conditions.&#160;Additional informationThe offer prospectus of 23 March 2018 (in German) is available at<a href="http://www.orior.ch/de/investor-relations/angebotsprospekt-thurella/">www.orior.ch/de/investor-relations/angebotsprospekt-thurella/</a>

Interim results of the offer by ORIOR Menu AG, a Company of the ORIOR Group, for all publicly held registered shares of Thurella AG

ORIOR AG held its 8th Annual General Meeting as a listed company in Dübendorf today. The 566 shareholders who attended the meeting represented 3,789,844 of the voting rights or 58.15% of the outstanding share capital consisting of 6,517,499 shares.&#160;All of the Board of Directors' proposals were passed by the Annual General Meeting. The annual report, the annual accounts and the consolidated financial statements for 2017 were approved, as was the seventh consecutive increase in the dividend. The ordinary dividend payment of CHF 2.17 per registered share (previous year: CHF 2.09) will be paid on or around 18 April 2017.&#160;Shareholders subsequently elected the following previously serving Board members for another one-year term of office: Rolf U. Sutter as Chairman, Edgar Fluri, Walter Lüthi, Dominik Sauter and Monika Walser. Josef Ming was elected to the Board of Directors as a new member. At the constitutive meeting of the Board of Directors after the conclusion of the Annual General Meeting Edgar Fluri was elected Vice Chairman. The Annual General Meeting also elected the three proposed candidates for the Compensation Committee – Rolf U. Sutter, Monika Walser and Josef Ming. The Board of Directors appointed Monika Walser as chairwoman of the Compensation Committee.&#160;Ernst &#x26; Young AG, Basel, was confirmed as auditor for the 2018 financial year and Ines Pöschel was re-elected to serve as independent proxy until the conclusion of the next Annual General Meeting in 2019.&#160;The Annual General Meeting accepted the Board of Directors' proposal to renew the authorised but unissued share capital that expired on 12 April 2018 for the period until 12 April 2020 and to amend Article 3b para. 1 of the company's Articles of Association accordingly. Moreover, all proposals regarding compensation of the members of the Board of Directors and the Management Board were approved.

Invitation to the Annual General Meeting (pdf)

The&#160;Invitation to the Annual General Meeting&#160;of ORIOR AG&#160;is now available on the Website.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN.ORIOR AG (&ldquo;ORIOR&rdquo; or the &ldquo;Company&rdquo;) has successfully placed 592,499 new shares by way of an accelerated bookbuilding in a private placement with institutional investors.&nbsp;ORIOR placed 592,499 new shares at CHF 75.50 per new share. The gross proceeds from the placement amount to CHF 44.7 million. The net proceeds from the capital increase will be used to finance the contemplated acquisition of Thurella which was announced on 1 March 2018. The placed shares are sourced from ORIOR's existing authorized share capital.&nbsp;The new shares are expected to be listed and admitted to trading on SIX Swiss Exchange as per 8 March 2018. Payment and settlement is expected to take place on 9 March 2018. The new shares will rank pari passu with the existing shares, including full dividend entitlement for the financial year 2017.&nbsp;As part of the placement, nebag ag, the main shareholder of Thurella, purchased 100,000 new shares and EGS Beteiligungen AG purchased 62,000 new shares at the offer price. Both investors have agreed to a lock-up period of 90 days, subject to customary exceptions.&nbsp;Credit Suisse is acting as Sole Bookrunner in the placement.&nbsp;ContactMilena Mathiuet, Head Corporate Communication &amp; IRTelephone +41 44 308 65 13, Email: <a href="mailto:investors@orior.ch">investors@orior.ch</a>

ORIOR successfully places 592,499 new shares with gross proceeds of CHF 44.7 million

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN.Following the announcement on 1 March 2018 of ORIOR AG (&ldquo;ORIOR&rdquo; or the &ldquo;Company&rdquo;) regarding the contemplated acquisition of Thurella AG (&ldquo;Thurella&rdquo;), the Company launches an accelerated bookbuilding for the placement of up to 592,499 new registered shares with a par value of CHF 4.00 per share. As a result, ORIOR's share capital will increase by a maximum of 9.99%. The net proceeds from the capital increase will be used to finance the contemplated acquisition of Thurella.&nbsp;The transaction, which is directed exclusively at institutional investors, will be executed by way of an undocumented private placement excluding subscription rights of existing shareholders. The new shares will be sourced out of the Company's existing authorised share capital and will be offered exclusively to institutional investors in Switzerland and qualified investors outside of Switzerland and the US. The bookbuilding procedure starts immediately and the offer price as well as the number of new shares offered will be announced upon completion of bookbuilding, expected for 7 March 2018.&nbsp;The new shares are expected to be listed and admitted to trading on SIX Swiss Exchange as per 8 March 2018. Payment and settlement is expected to take place on 9 March 2018. The new shares will rank pari passu with the existing shares, including full dividend entitlement for the financial year 2017.&nbsp;nebag ag, the main shareholder of Thurella, has committed to purchase 100,000 new shares at the offer price. Additionally, EGS Beteiligungen AG committed to purchase new shares at the offer price proportionally to its shareholding of 10.5% in ORIOR. Both investors have agreed to a lock-up period of 90 days, subject to customary exceptions.&nbsp;The Company and the members of its Board of Directors and Management Board have agreed to a 90 days lock-up period subject to customary exceptions.&nbsp;Credit Suisse is acting as Sole Bookrunner in the placement.&nbsp;ContactMilena Mathiuet, Head Corporate Communication &amp; IRTelephone +41 44 308 65 13, Email: <a href="mailto:investors@orior.ch">investors@orior.ch</a>

ORIOR launches a placement of up to 592,499 new shares through an accelerated bookbuilding

Fiscal 2017 a good year, strategically and operationally&#160;ORIOR, the Swiss leader for fresh convenience food and premium meat products, looks back on a good fiscal year, both strategically and operationally, thanks in particular to the successful acquisition of the Culinor Food Group in September 2016 and to the steadfast implementation of the ORIOR 2020 strategy.&#160;ORIOR Group recorded revenues of CHF 585.5 million in 2017, up from CHF 527.7 million in the previous year, which corresponds to an increase of 10.9%. Positive effects from the initiatives and measures introduced under the ORIOR 2020 strategy fed through to all key financial metrics and further strengthened the Group's already sound financial base. However, it was still not possible to grow the Swiss business during the past year. Excluding the effects of the Culinor Food Group acquisition and exchange-rate movements, Group revenues in 2017 declined by –2.4% from the previous year. The main reasons for this contraction were the challenging environment in Switzerland and the associated pricing and competitive pressure. A shift in the portfolio mix, together with optimised procurement costs, continual productivity-enhancing efforts and a further reduction in waste, helped to raise the gross profit margin by 88 basis points to 41.1% of revenues. EBITDA increased by 12.1% to CHF 57.7 million (2016: CHF 51.5 million), raising the corresponding margin by 10 basis points to 9.9%. Investments in brands, innovation, and sales and distribution were maintained at high levels. Net profit increased by 12.8% to CHF 32.0 million (2016: CHF 28.4 million), which corresponds to a 9 basis point improvement in the net profit margin to 5.5%. Operating cash flow amounted to a pleasing CHF 55.7 million. Deleveraging efforts lifted the equity ratio from 44.3% in 2016 to a likewise pleasing level of 50.8%.&#160;At the end of August ORIOR issued its debut bond in the Swiss capital market, raising CHF 110 million with a coupon of 0.625% and a maturity of 6 years. This bond issuance marked a further diversification of the company's funding sources and strengthened its prospects for future growth.&#160;Renewed increase in the dividendA constant and reliable dividend payout is one of ORIOR's stated goals. The Board of Directors will propose another increase in the dividend to CHF 2.17 per share at the Annual General Meeting on 12 April 2018. This represents the seventh consecutive increase in the dividend since the IPO in April 2010.&#160;ORIOR segmentsORIOR Convenience, the specialist for fresh convenience food with its three competence centres Fredag, Le Patron and Pastinella, generated revenues of CHF 187.7 million in 2017, which is –3.3% less than in the previous fiscal year (2016: 194.2 million). Despite a significant improvement in business during the second half of the year, the Convenience segment did not fully meet our expectations. This was mainly due to tough competition and a challenging market environment. Segment EBITDA, however, showed pleasing growth of 4.2% to CHF 26.3 million thanks to unrelenting efforts to strengthen the portfolio mix with a strong focus on efficiency and costs, bringing the EBITDA to 14.0% (13.0% in 2016). The Convenience segment's new concepts and innovation in the regional and ultra-fresh, vegetarian speciality and pasta product categories deserve special mention.&#160;The Refinement segment, ORIOR's specialist for refined meat products with the three competence centres Rapelli, Albert Spiess and Möfag, did not meet overall expectations during the year under review. Revenues amounted to CHF 290.2 million, which is –2.9% less than in the previous year (2016: CHF 298.8 million). Segment EBITDA declined by –8.4% to CHF 20.6 million (2016: CHF 22.5 million), which resulted in a margin of 7.1%. Despite compelling innovation and the good growth of its branded products and new concepts, Refinement was unable to offset promotional and price pressures, higher raw material costs and the effects of market consolidation. Highlights for the segment are the good performance of its “Rapelli” brand, thanks in part to a further increase in marketing spending, and the successful launch of various snack specialities, such as My Energy Beef Sticks from Albert Spiess.&#160;The International segment comprises all Group activities outside Switzerland, and largely consists of the Belgian-based Culinor Food Group. ORIOR International achieved revenues of CHF 124.7 million in 2017, which represents an increase of 134.4% from the level achieved in the previous year (2016: CHF 53.2 million). The company's strategically significant expansion into the European market has been a success: Culinor Food Group beat expectations for the entire year, as had already been observed at the mid-year mark. Excluding the effect of the Culinor Food Group acquisition and currency movements, the International segment achieved organic growth of 1.6% on the back of its Bündnerfleisch exports. Revenues from the export business edged slightly higher in 2017 thanks to new sales channels and the subsequent increase in Bündnerfleisch exports.&#160;More progress toward ORIOR 2020 strategic goalsImplementation of the ORIOR 2020 strategy was steadfastly pursued during the year under review. A Supply Chain Excellence Officer was appointed at the beginning of the year to ensure continual optimisation of group-wide workflows and operating processes as well as of new plant investment projects. At the same time, cross-departmental knowledge sharing and interaction is being institutionalised, promoted and exploited. The omnipresent theme of digitization is also an ongoing process at ORIOR and related projects are under way in various areas. Fiscal year 2017 marked the beginning of a migration to an automated payment processing system; SAP interfaces were optimised and further investments made to standardise IT infrastructure group-wide. Another important step was taken towards the publication of a corporate sustainability report. At the end of 2017, management decided to develop a sustainability report in accordance with the internationally recognised Global Reporting Initiative (GRI) Standards.&#160;Key figures for ORIOR Group – financial year 2017&#160;<table border="1" cellpadding="0" cellspacing="0" width="491"><tbody><tr><td valign="bottom" width="246">in TCHF</td><td valign="bottom" width="94">2017</td><td valign="bottom" width="76">∆ in %</td><td valign="bottom" width="76">2016</td></tr><tr><td width="246">Net revenues</td><td width="94">585'485 </td><td width="76">+10.9%</td><td width="76">527'738 </td></tr><tr><td width="246">EBITDA</td><td width="94">57'687</td><td width="76">+12.1%</td><td width="76">51'450</td></tr><tr><td width="246">EBITDA in % of revenues</td><td width="94">9.9%</td><td width="76">&#160;</td><td width="76">9.7%</td></tr><tr><td width="246">EBIT</td><td width="94">39'195</td><td width="76">+11.5%</td><td width="76">35'157</td></tr><tr><td width="246">EBIT in % of revenues</td><td width="94">6.7%</td><td width="76">&#160;</td><td width="76">6.7%</td></tr><tr><td width="246">Net profit</td><td width="94">32'008</td><td width="76">+12.8%</td><td width="76">28'377</td></tr><tr><td width="246">Net profit in % of revenues</td><td width="94">5.5%</td><td width="76">&#160;</td><td width="76">5.4%</td></tr><tr><td width="246">Dividend per share in CHF</td><td width="94">2.17</td><td width="76">&#160;</td><td width="76">2.09</td></tr></tbody></table>&#160;&#160;ORIOR enters the organic beverages market&#160;ORIOR is acquiring a majority interest of 65% in Thurella AG, a pioneering producer of organic, all-natural vegetable and fruit juices. Thurella's product and brand portfolio is built on strong concepts with well-known brands: “Biotta” – Switzerland's leading organic juice brand; “Traktor” organic smoothies; “Vivitz” organic ice teas and “C-ICE”. With this acquisition, ORIOR is strengthening its position beyond the traditional food market and entering the premium niche of organic beverages, a growing market both in Switzerland and abroad.&#160;The share purchase agreements between ORIOR and the main shareholders of Thurella AG pursuant to which a majority of the company's shares will be acquired were signed on 28 February 2018. At the same time, ORIOR is issuing a takeover offer to acquire all shares held by the remaining shareholders. The offer price of CHF 150 per share, less the dividend of CHF 2.00 per share for the 2017 financial year that will likely be approved at the ordinary general meeting of Thurella AG on 26 April 2018, corresponds to the same price that ORIOR offered to Thurella AG's main shareholders to acquire the majority interest.&#160;For the Board of Directors and the Management of Thurella AG, ORIOR is the preferred partner. The two companies share a traditional entrepreneurial mindset and cultural values that are deeply embedded in their Swiss heritage; both are pioneers in their fields and strong in innovation, attach great importance to culinary and quality, and display high levels of expertise in their niches as well as a unique entrepreneurial spirit. ORIOR will expedite the innovative organic beverages group's successful growth in its domestic and foreign markets while operating as an independent centre of competence. The Board of Directors of Thurella AG unanimously supports the proposed acquisition and the takeover offer and recommends all shareholders to tender their shares.&#160;Thurella AG is based in eastern Switzerland and owns the Swiss speciality beverage producer Biotta AG in Tägerwilen and the German Gesa Gemüsesaft GmbH in Neuenstadt-Stein. “Biotta” is a long-established brand that stands for premium organic vegetable and fruit juices made from 100% natural raw materials – without any added sugar or artifical colourings or preservatives. Besides its classic products launched 60 years ago – “Biotta Classic” and “Biotta Pur” – there are about 30 other natural juice products in the company's portfolio, including trendy creations such as “Biotta Smoo'tea”, “Biotta Veggies” and “Biotta Bio-Energy”. “All the goodness of nature in a bottle” says Biotta's slogan; they are well-known in all addressed markets. It processes vegetables and fruits at its factory on the shores of Lake Constance into surprising and delightful drink creations that are then distributed to about 30 countries around the globe. The product portfolio also includes the light and refreshing “Vivitz” iced tea, the distinctly different “C-Ice” iced tea and “Tractor”, the unconventional Swiss cult organic smoothie. At Gesa in Neuenstadt-Stein, high quality vegetable juices made from organic raw materials are produced for the food and beverage industry and distributed throughout Europe.&#160;Thurella's product and brand portfolio, with its strong brands and innovative concepts, as well as its strongly anchored pioneering spirit and unique corporate culture fit perfectly with ORIOR's strategic profile. This acquisition strengthens ORIOR's position beyond the traditional food market and gives it a strong foothold in the premium niche of organic beverages, a growing market both in Switzerland and abroad.&#160;The acquisition will be financed with available cash as well as an existing credit line. In addition, ORIOR intends to increase its share capital by utilising its authorised share capital as part of this transaction.&#160;Within the course of the acquisition transaction, non-operating assets owned by Thurella AG will be spun off into a new real estate company and these shares will be issued to the shareholders of Thurella AG as a dividend in kind prior to the closing of the transaction. This newly established real estate company is not part of the takeover bid. The takeover offer will presumably be issued on 26 March 2018 with the publication of the offer prospectus. The offer period is expected to commence on 26 March 2018 and end on 24 April 2018. The subsequent extension period will presumably commence on 26 April 2018 and end on 11 May 2018. The transaction is expected to close in mid-May 2018. Detailed information about the offer will be published in the offer prospectus.&#160;Change in the Board of DirectorsChristoph Clavadetscher, a long-standing member of the Board of Directors of ORIOR AG, will not be standing for re-election at the Annual General Meeting on 12 April 2018. During his more than ten years of service, Christoph Clavadetscher helped to make ORIOR what it is today. All of us at ORIOR thank him for his valued guidance and leadership.&#160;The Board of Directors of ORIOR AG will propose the election of Josef Ming (Swiss national, born 1958) as a new director at the Annual General Meeting of shareholders on 12 April 2018. Josef Ming is a Senior Partner with Bain &#x26; Company, a global consulting firm, and has extensive experience in consumer goods, the retail industry and industrial goods and services.&#160;OutlookGeneral market conditions in Switzerland are still challenging. While there may be some relief in terms of sales volumes, pricing and competitive pressure is expected to remain high. ORIOR International's target markets offer further growth potential. The initiatives and measures being introduced in connection with the ORIOR 2020 strategy remain a priority. Further innovation, new concepts and services and branding activities are at the top of the agenda. Group-wide projects to enhance our agility, productivity and efficiency will be pursued as well. In summary, we are confident that we can continue to create sustainable value for all our stakeholders in the coming fiscal year.

<ul><li>Revenues increased by 10.9% to CHF 585.5 million.</li><li>European business (Culinor Food Group) beats expectations.</li><li>EBITDA up 12.1% to CHF 57.7 million on improving margins and net profit up 12.8% to CHF 32.0 million.</li><li>ORIOR enters the growing niche of premium organic beverages with the acquisition of a majority interest in Swiss organic pioneer “Biotta”; international business strengthened. Acquisition of a 65% interest and concurrent takeover bid for the remaining outstanding shares.</li><li>Renewed increase in the dividend to CHF 2.17 per share proposed.</li><li>Change in the Board of Directors: Josef Ming will be proposed as a new member of the Board of Directors of ORIOR AG; Christoph Clavadetscher is stepping down after more than ten years of service.</li></ul>

A strategically and operationally good year for ORIOR; expansion into the organic beverages business

ORIOR AG today successfully placed a CHF 110 million debut bond in the Swiss capital market. The new issue was very well received by the market and attracted great interest among private and institutional investors. The bond has a coupon of 0.625% and a maturity of 6 years. Payment date is 26 September 2017. The issue was lead-managed by UBS AG and Zürcher Kantonalbank. The proceeds of the bond will be used for the refinancing of outstanding credit facilities as well as for general corporate purposes including potential acquisitions of the ORIOR Group. The Group thus diversifies its sources of funding and strengthens its financing capacity.

ORIOR successfully issues a CHF 110 million bond

ORIOR, the Swiss leader for fresh convenience food and refined meat products, looks back on a successful first half of 2017. The steadfast implementation of the ORIOR 2020 strategy is yielding the anticipated results. Scores of initiatives and action plans are providing positive inputs across the value chain. Moreover, the strategically important step into foreign markets has been successful. The market environment in Switzerland remains challenging; in addition delayed sales promotions and market consolidation have reduced domestic sales. ORIOR International is growing thanks to the Culinor Food Group, which tapped new sales channels and introduced marvellous innovations to deliver faster-than-expected growth.&#160;ORIOR recorded total revenues of CHF 281.3 million during the first half of 2017, up from CHF 239.5 million in the first half of the previous year. This revenue growth of 17.4% is largely attributed to the acquisition of Culinor Food Group at the end of August 2016 and its full consolidation as of 1 September 2016. EBITDA increased by 22.0% to CHF 27.7 million and the EBITDA margin improved 37 basis points to 9.9%. Net profit for the period rose by 22.3% from the prior-year period to CHF 14.8 million, which corresponds to a margin improvement of 21 basis points to 5.3%.&#160;ORIOR managed to increase its already high cash flow as well, which amounted to CHF 28.5 million for the period. Its strong balance sheet was strengthened further; the equity ratio at the mid-year mark stood at a solid 47.1%.&#160;ORIOR SwitzerlandBusiness in Switzerland was in line with expectations. The first half of 2017 was marked by continuing market headwinds stemming from market consolidation, postponed sales promotion campaigns and stiff competition, including, increasingly, from foreign suppliers. ORIOR's total revenues in Switzerland declined by –3.8% from the same period a year ago. Thanks to measures taken in connection with the ORIOR 2020 strategy – first and foremost, synergies realised working across the autonomous competence centres within the Champion Model – profitability in the Convenience and Refinement segments improved despite the adverse business environment.&#160;The ORIOR Convenience segment did not meet all expectations. This is mainly attributed to ongoing stiff competition and insourcing by retail customers. Consequently, revenues in the Convenience segment declined by CHF 5.5 million or 5.8% y-o-y to CHF 89.9 million. Structural and process improvements, adjustments to the product mix and, not least, determined cost-optimisation efforts had a positive impact on segment profitability: The EBITDA margin widened by 70 basis points to 13.5%. Special mention is made of the Convenience segment's pasta business, which was stabilised thanks to innovative new concepts and products. Together with the strong focus on efficiency, this development provides a sound basis for the segment's future performance. Furthermore, Le Patron introduced high-protein meals for sports enthusiasts.&#160;The ORIOR Refinement segment delivered a satisfactory performance in the first half of 2017. Several sales promotions were pushed back into the second half of the year, which had a temporarily negative impact on sales, but the segment was nevertheless able to outperform the general market in most product categories. ORIOR Refinement's revenues declined by CHF 5.0 million to CHF 139.9 million, or by 3.4% compared to the year-ago period. The Refinement segment was likewise able to improve its profitability during the period under review: Its EBITDA margin rose by 35 basis points to 7.6%. The Rapelli brand was a major driver for the segment, sustaining its good growth trend thanks to a constant high level of investment in innovation, marketing and branding. Albert Spiess' latest innovation also deserves special mention: My Energy Beef Sticks, top-quality Swiss beef sticks high in protein and low in fat.&#160;ORIOR InternationalThe ORIOR International segment performed very well. It largely consists of the Culinor Food Group, which has been a part of ORIOR Group since 1 September 2016. Total revenues at the International segment amounted to CHF 58.6 million and EBITDA amounted to CHF 5.1 million, which resulted in an EBITDA margin of 8.6%.&#160;As was already the case in fiscal 2016, Culinor Food Group topped expectations for the first half of 2017. Its integration into ORIOR was successfully completed as planned. Special attention is drawn to the cultural fit that has already been highlighted on several occasions: The team has an entrepreneurial mindset, displays its pioneering spirit by launching a steady stream of innovative products and its premium quality culinary delights underscore its strong commitment to excellence. The Benelux countries are known throughout Europe as a highly developed food market with a penchant for premium fresh convenience food. Culinor Food Group is the leading pioneer in precisely this market. Thanks to innovative product ideas such as the new ultra-fresh “Lovely Meals” combining pre-cooked and fresh ingredients, or low-sodium “All natural” soups made with their own distinctive, classic broth, Culinor Food Group was able to generate above-average growth. Culinor Food Group has been equally successful in developing new sales channels, such as school cafeterias or the “Home Cuisine” concept, a special home delivery meal service for elderly people who do not want to cook their own meals, or are unable to.&#160;The Swiss-based export business did not meet expectations and struggled with the demanding market environment. Consumer confidence in France remains muted, which acted as a drag on exports. This was compounded by intense pricing competition that pushed margins to very low, if not negative, levels. All in all, the export business remains challenging, especially for products whose value chain is largely located in Switzerland. ORIOR remains convinced that unique premium products from Switzerland offer good export potential and management is evaluating new export concepts and markets.&#160;OutlookThe business environment and general operating conditions in Switzerland remain challenging. ORIOR International's target markets offer further growth potential. We will vigorously press ahead with the implementation of the ORIOR 2020 strategy. Our substantial investments in innovation and branding underscore our commitment to our vision today and in the future. The second half of the year will be distinguished by attractive new products, concepts, packaging designs and by innovation throughout the value chain. Progress will also be made on projects involving ORIOR Campus, sustainability and digitisation. For example, we are currently migrating to an automated payment processing system.&#160;Thanks to these promising initiatives, we expect an overall good second half.&#160;ORIOR Group's key figures for the first half&#160;<table border="1" cellpadding="0" cellspacing="0" width="491"><tbody><tr><td width="179">in CHF 000</td><td width="132">Jan – Jun 2017</td><td width="66">∆ in %</td><td width="113">Jan – Jun 2016</td></tr><tr><td width="179">Revenues</td><td width="132">281,303 </td><td valign="top" width="66">+17.4%</td><td width="113">239,549 </td></tr><tr><td width="179">EBITDAas a % of revenues</td><td width="132">27,7129.9%</td><td width="66">+22.0%&#160;</td><td width="113">22,7109.5%</td></tr><tr><td width="179">EBITas a % of revenues</td><td width="132">18,5306.6%</td><td width="66">+19.9%&#160;</td><td width="113">15,4556.5%</td></tr><tr><td width="179">Profit for the yearas a % of revenues</td><td width="132">14,8335.3%</td><td width="66">+22.3%&#160;</td><td width="113">12,1245.1%</td></tr><tr><td width="179">Net debt, third parties</td><td width="132">118,745</td><td width="66">+148.6%</td><td width="113">47,772</td></tr><tr><td width="179">Shareholders' equity</td><td width="132">253,489</td><td width="66">&#160;</td><td width="113">223,626</td></tr><tr><td width="179">Equity ratio</td><td width="132">47.1%</td><td width="66">&#160;</td><td width="113">55.5%</td></tr></tbody></table>

<ul><li>Successful first half thanks to the steadfast implementation of the ORIOR 2020 strategy.</li><li>Strategically important step abroad has been met with success. ORIOR International beats revenue and profit expectations, thanks to Culinor Food Group.</li><li>ORIOR Switzerland in line with expectations as environment remains challenging; market consolidation, delayed sales promotion campaigns, and intense competition weigh on revenues.</li><li>Increase in revenues, operating results and profitability: Revenues +17.4% to CHF 281.3 million, EBITDA +22.0% to CHF 27.7 million; net profit +22.3 % to CHF 14.8 million.</li><li>Thanks to these promising initiatives, an overall good second half expected.</li></ul>

ORIOR with successful first half

ORIOR AG held its 7th Annual General Meeting as a listed company in Dübendorf today. The 584 shareholders who attended the meeting represented 3,515,545 of the voting rights or 59.33% of the outstanding share capital consisting of 5,925,000 shares.&#160;All of the Board of Directors' proposals were passed by the Annual General Meeting. The annual report, the annual accounts and the consolidated financial statements for 2016 were approved, as was the sixth consecutive increase in the dividend. The ordinary dividend payment of CHF 2.09 per registered share (previous year: CHF 2.03) will be paid on or around 3 April 2017.&#160;Shareholders subsequently elected the following previously serving Board members for another one-year term of office: Rolf U. Sutter as Chairman, Edgar Fluri, Christoph Clavadetscher, Walter Lüthi, Dominik Sauter and Monika Walser. At the constitutive meeting of the Board of Directors after the conclusion of the Annual General Meeting Edgar Fluri was elected Vice Chairman. The Annual General Meeting also elected the three proposed candidates for the Compensation Committee – Christoph Clavadetscher, Rolf U. Sutter and Monika Walser. The Board of Directors re-appointed Christoph Clavadetscher as chairman of the Compensation Committee.&#160;Ernst &#x26; Young AG, Basel, was also confirmed as auditor for the 2017 financial year and Ines Pöschel was re-elected to serve as independent proxy until the conclusion of the next Annual General Meeting in 2018. Moreover, all proposals regarding compensation of the members of the Board of Directors and the Management Board were approved.

ORIOR, the Swiss leader for fresh convenience food and refined meat products, was strategically and operationally successful in 2016. With the acquisition of the Culinor Food Group – the leading producer of chilled ready meals and meal components serving retailers and food service providers in the Benelux region – ORIOR achieved another important milestone in the execution of its 2020 strategy. This transaction strengthened and enlarged ORIORʼs core competencies and market position in the growing premium fresh convenience food market beyond the Swiss border into the greater European market. Operationally, the Group also made good progress and grew stronger in the face of challenging market conditions; its operating results and margins improved. ORIOR generated revenues of CHF 527.7 million in 2016, up from CHF 500.1 million in the previous year. This revenue growth of 5.5% is largely attributed to the acquisition of Culinor Food Group at the end of August 2016 and its full consolidation as of 1 September 2016. EBITDA increased by 5.7% to CHF 51.5 million and the margin was held at the prior-year level of 9.7%. A greater focus on portfolio management and the unremitting execution of numerous projects to improve cost-efficiency were the key factors behind the EBITDA performance. Net profit for the year advanced 11.0% to CHF 28.4 million and the corresponding margin rose 27 basis points to 5.4%. Operating cash flow amounted to CHF 31.9 million. The equity ratio declined from 58.6% to 44.3% in the wake of the acquisition of Culinor Food Group.&#160;ORIOR's domestic Swiss market remains pressured by price cuts and intense competition in retail and food service channels as well as by the loss of sales along the border. The positive results of the initiatives and action plans launched under the ORIOR 2020 strategy were unable to offset completely these negative effects. Revenues in the Swiss business therefore declined by 1.5%. Renewed increase in the dividendThe Board of Directors will propose another increase in the dividend to CHF 2.09 per share at the Annual General Meeting on 28 March 2017. This represents the sixth consecutive increase in the dividend since the IPO.&#160;ORIOR segmentsSegment reporting is now divided into the three segments of ORIOR Convenience, ORIOR Refinement and ORIOR International. Results previously reported under the Corporate and Export segment have been reassigned as follows: Corporate results are now apportioned to the three reporting segments and the Export operations are now part of the new ORIOR International segment. To ensure comparability, the presentation of the prior-year results has been adjusted to reflect the new reporting structure&#160;Results from the Convenience segment, the specialist for fresh convenience food with the three competence centres Fredag, Le Patron and Pastinella, were mixed. Revenues declined by 4.2% to CHF 194.2 million compared to CHF 202.7 million in the previous year. EBITDA receded by 6.0% to CHF 25.2 million, which corresponds to an EBITDA margin of 13.0%. Changes to the business model for exporting vegetarian and vegan specialities and lower sales volumes in the fresh pasta business contributed to this year-on-year decline. Adverse conditions in the retail and food service channels and lower consumer confidence also put a damper on sales in several product groups. The main positive drivers for the Convenience segment were also confirmed in the second half: Fredag continued to grow with its innovative solutions for vegetarian dishes as well as with its poultry and seafood products, while Le Patron increased revenues from snacks and specialities.&#160;The Refinement segment, ORIORʼs specialist for refined meat products with the three competence centres Rapelli, Albert Spiess and Möfag, performed quite well during the year under review. Segment revenues rose CHF 0.3 million to CHF 298.8 million and segment profitability was held at the prior yearʼs level; EBITDA amounted to CHF 22.5 million and the margin came in at 7.5%. This performance was supported by additional investments in the “Rapelli” and “Albert Spiess” brands, which increased their sales along with their market share. Möfag, the producer of Fürstenländer specialties, introduced more convincing innovations and continued to benefit from sales channel diversification.&#160;The International segment comprises all of our business activities in foreign markets. This newly defined segment mainly consists of the recently acquired Culinor Food Group in Belgium. Culinor Food Group is the leading producer of chilled ready meals and meal components in the Benelux region and operates as an independent centre of competence. Besides its innovative and extensive portfolio of high-quality products, Culinor boasts modern production facilities and a vast range of technologies for producing premium fresh convenience food. Fully consolidated as of 1 September 2016, Culinor Food Group met all expectations during its first few months as a new competence centre of the ORIOR Group. Together with the Swiss exports, consolidated revenues at the International segment amounted to CHF 53.2 million. In the Bündnerfleisch export business, a drop in revenues was willingly accepted in the face of adverse market and competitive conditions and due to a decision to refrain from conducting business with excessively low margins, which consequently improved the profitability of the sales contracts for Bündnerfleisch that were concluded. The revised business model for “Nature Gourmet” products likewise led to a reduction in segment revenues, yet also had a positive effect on the profitability. Together with Culinor Food Group, the International segment reported an EBITDA of CHF 3.7 million, which corresponds to an EBITDA margin of 7.0%.&#160;More progress toward ORIOR 2020 strategy goalsORIOR steadfastly implemented its ORIOR 2020 strategy throughout the entire 2016 fiscal year. The acquisition of Culinor Food Group marked the first decisive step toward establishing a strategic foothold in the European market. Meanwhile, a raft of other initiatives and measures were also being worked on: Efforts to set up group-wide trend monitoring activities and coordinate appropriate responses led to a 3-year innovation pipeline. A review of sourcing and sales operations was conducted and resulted in cost as well as organisational improvements. Thanks to additional investments in marketing activities, especially in brands, revenues from “Rapelli” and “Albert Spiess” were up. The business model for exporting our vegetarian and vegan specialities under the “Nature Gourmet” brand was revised in March 2016 to boost profitability. In the Swiss business, an “operational footprint project” entailing the review and improvement of operating structures and processes was executed. ORIOR Campus also opened its doors. This is a training facility for managers and other key employees that promotes their professional development.&#160;Outlook for 2017We expect the general market environment to remain challenging. Intense competition will remain a dominant factor, as in the past. We will continue to execute our ORIOR 2020 strategy with confidence and determination and reinforce our strong market positions, focusing on product and conceptual innovation, strong partnerships, investments in our brand family and attractive market niches. We will further streamline our portfolio and selectively channel resources into the expansion of strategic growth areas. We intend to continually improve our agility by simplifying processes and reducing complexity. And we will strive to further improve our operating performance and efficiency. This is how we will generate value for our stakeholders also in 2017.&#160;ORIOR Group's key figures for the 2016 financial year<table border="1" cellpadding="0" cellspacing="0" width="491"><tbody><tr><td valign="bottom" width="246">in CHF 000</td><td valign="bottom" width="94">2016</td><td valign="bottom" width="66">∆ in %</td><td valign="bottom" width="85">2015</td></tr><tr><td width="246">Revenues</td><td width="94">527,738 </td><td width="66">+5.5%</td><td width="85">500,128 </td></tr><tr><td width="246">EBITDA</td><td width="94">51,450</td><td width="66">+5.7%</td><td width="85">48,655</td></tr><tr><td width="246">EBITDA as a % of revenues</td><td width="94">9.7%</td><td width="66">&#160;</td><td width="85">9.7%</td></tr><tr><td width="246">EBIT</td><td width="94">35,157</td><td width="66">+3.9%</td><td width="85">33,848</td></tr><tr><td width="246">EBIT as a % of revenues</td><td width="94">6.7%</td><td width="66">&#160;</td><td width="85">6.8%</td></tr><tr><td width="246">Profit for the year</td><td width="94">28,377</td><td width="66">+11.0%</td><td width="85">25,563</td></tr><tr><td width="246">Profit for the year as a % of revenues</td><td width="94">5.4%</td><td width="66">&#160;</td><td width="85">5.1%</td></tr><tr><td width="246">Dividend per Share in CHF</td><td width="94">2.09</td><td width="66">&#160;</td><td width="85">2.03</td></tr></tbody></table>

<ul><li>Revenues increased by 5.5% to CHF 527.7 million</li><li>EBITDA increased by 5.7% to CHF 51.5 million</li><li>Net profit increased by 11.0% to CHF 28.4 million</li><li>Another increase in the dividend to CHF 2.09 per share</li></ul>

ORIOR with a successful a cquisition in Belgium and a good performance in its domestic market

Bruno de Gennaro has played an important role in the development of ORIOR Group during his more than 22 years of service in a variety of senior positions. Bruno de Gennaro joined the company in 1994 as Rapelli's marketing and sales director and soon assumed that same role for the entire ORIOR Group. Three years later, in 1997, the Management Board appointed him head of Fredag Group. In 1998 he was assigned management responsibility for Rapelli SA and was concurrently appointed to the Management Board of ORIOR AG. He successfully led this highly traditional Ticino firm for the next 13 years before assuming management responsibility for the strategically important Convenience segment with its three competence centres Fredag, Pastinella and Le Patron. From June 2014 until January 2015 Bruno de Gennaro also managed the entire ORIOR Group as CEO ad interim.&#160;The Board of Directors, the Management Board and all employees thank Bruno de Gennaro for his long-standing loyalty and tireless efforts. A truly talented manager, Bruno de Gennaro is leaving a distinctive mark on ORIOR Group in terms of continuity and strong identification with the company.&#160;The successor to Bruno de Gennaro will be communicated in due time.

Bruno de Gennaro, a member of the Management Board of ORIOR Group, will step down from his position as CEO of the Convenience segment and head of the competence centre Fredag at the end of June 2017. ORIOR is very pleased that it will still be able to rely on his services and know-how in the future. Bruno de Gennaro will become the director of ORIOR's pension fund and will also perform special tasks at the request of the Group CEO Daniel Lutz.

Change in ORIOR AG's Management Board

&#160;&#160;ORIOR presents a good first half of 2016; operating results improved&#160;ORIOR, the Swiss leader for fresh convenience food and refined meat products, achieved good results in the first half of 2016 amid a challenging environment. Revenues declined by 0.8% but operating results improved. The general market environment was challenging, both with retailers and food service providers and with regard to procurement prices for raw materials. The measures and initiatives introduced with the ORIOR 2020 strategy presented in Q4 2015 had a positive impact and contributed to the good results.&#160;ORIOR Group generated revenues of CHF 239.5 million in the first half of 2016, which corresponds to a slight decline of 0.8% (1H 2015: CHF 241.5 million). The main reasons for the year-on-year decline were pricing pressure, sales promotion activities and Bündnerfleisch exports. Another factor was the change in the business model for the exports of vegetarian and vegan specialities under the “Nature Gourmet” brand, which have been produced and distributed through a licensing partnership with the German company Tofutown since March 2016. The Swiss business reported positive volume growth albeit slightly lower sales revenues, due to pricing pressure and sales promotion activities.&#160;EBITDA increased 1.3% to CHF 22.7 million (1H 2015: CHF 22.4 million), which raised the EBITDA margin by 20 basis points to 9.5%. Higher EBITDA led to a likewise good EBIT result of CHF 15.5 million compared to CHF 15.0 million in the first half of 2015. This corresponds to an improvement of 3.0% and a 24 basis point increase in the EBIT margin to 6.5%. Net profit rose by 17.4% to CHF 12.1 million compared to CHF 10.3 million in the first half of 2015, which was negatively impacted by exchange rate fluctuations. The net profit margin increased by 78 basis points to 5.1%. An equity ratio of 55.5% (1H 2015: 54.7%) gives ORIOR a solid foundation for the successful execution of the ORIOR 2020 strategy.&#160;Segment reviewORIOR Convenience, the specialist for fresh convenience food with its three competence centres Fredag, Le Patron and Pastinella, outperformed the broader market in most product categories but could not hold its revenues at the level reported for the first half of 2015. Lower segment sales are mainly attributed to the aforementioned change in the business model for the exports of vegetarian and vegan specialities, product portfolio optimisation and a decline in fresh pasta sales. The Fredag and Le Patron competence centres delivered positive growth, especially with their innovative solutions for vegetarian specialities, as well as with poultry and seafood specialities and snacks. Total Convenience sales declined by 2.2% to CHF 95.4 million and EBITDA was 3.0% lower at CHF 13.3 million, which corresponds to a margin of 14.0%.&#160;The Refinement segment, the specialist for refined meat products with its three competence centres Rapelli, Albert Spiess and Möfag, generated revenues of CHF 144.8 million and thus held its revenues at the same level as at the mid-year mark in 2015 despite challenging market and procurement conditions. The “Rapelli” brand was a strong performer with its new brand identity, increased distribution and its growing sales of barbecue specialities. Albert Spiess grew its business with the “Albert Spiess” branded products following that brand's repositioning in the autumn of 2015, and Möfag delivered another good performance with its innovative regional specialities. Despite slightly higher meat prices, the segment's gross margin was steady thanks to an unerring focus on portfolio management. Profitability improved significantly; EBITDA rose 5.7% to CHF 11.7 million while EBIT rose 11.4% to CHF 7.9 million, lifting the margin by 55 basis points.&#160;The Corporate and Export Segment reported revenues of CHF 9.6 million, which is 4.0% below the figure for the prior-year period. This contraction is partly attributed to the change in the business model for the exports of vegetarian and vegan specialities. In addition, persisting economic headwinds in France and the resulting highly competitive situation have held back exports of Bündnerfleisch to France.&#160;ORIOR 2020 strategy on trackThe ultimate aim of the ORIOR 2020 strategy is steady value creation. A number of action plans and initiatives are under way in the following five strategic pillars: “House of Innovation”, “Brand strengthening and expansion”, “Agility and cost efficiency”, “The ORIOR responsibility” and “We are ORIOR”. ORIOR is steadfastly implementing its ORIOR 2020 strategy with determination and drive.&#160;&#160;ORIOR Group's key figures for the first half of 2016&#160;<table border="1" cellpadding="0" cellspacing="0" width="491"><tbody><tr><td width="179">In CHF thousand</td><td width="132">Jan – Jun 2016</td><td width="66">∆ in %</td><td width="113">Jan – Jun 2015</td></tr><tr><td width="179">Revenues</td><td width="132">239'549 </td><td valign="top" width="66">–0.8%</td><td width="113">241'546 </td></tr><tr><td width="179">EBITDAas a % of revenues</td><td width="132">22'7109.5%</td><td width="66">+1.3%&#160;</td><td width="113">22'4269.3%</td></tr><tr><td width="179">EBITas a % of revenues</td><td width="132">15'4556.5%</td><td width="66">+3.0%&#160;</td><td width="113">15'0116.2%</td></tr><tr><td width="179">Profit for the periodas a % of revenues</td><td width="132">12'1245.1%</td><td width="66">+17.4%&#160;</td><td width="113">10'3314.3%</td></tr><tr><td width="179">&#160;</td><td width="132">&#160;</td><td width="66">&#160;</td><td width="113">&#160;</td></tr><tr><td width="179">Net debt</td><td width="132">47'772</td><td width="66">–34.9%</td><td width="113">73'430</td></tr><tr><td width="179">Shareholders' equity</td><td width="132">223'626</td><td width="66">&#160;</td><td width="113">223'089</td></tr><tr><td width="179">Equity ratio</td><td width="132">55.5%</td><td width="66">&#160;</td><td width="113">54.7%</td></tr></tbody></table>&#160;&#160;&#160;&#160;ORIOR expands into the European market&#160;ORIOR is acquiring the Culinor Food Group. This acquisition marks another step forward with the ORIOR 2020 strategy and strengthens ORIOR's core competence in the growing premium fresh convenience food market beyond the Swiss border and into the greater European market. The Culinor Food Group is a leading producer of ready-made meals and meal components serving retailers and food service providers throughout the Benelux region. Operating out of Benelux, the innovative group also sells its products in Continental Europe. Revenues amount to approximately EUR 88 million. The acquisition will take effect from end of August 2016.&#160; Culinor will become ORIOR's European centre of competence.With the acquisition of Culinor Food Group ORIOR has taken out a significant position in the premium fresh convenience food market in the Benelux and created a strong platform from which it can successfully address the entire European market. Culinor operates production plants in Destelbergen (BE), Gent (BE), Olen (BE) and Herselt (BE) as well as a logistics centre located in Destelbergen (BE). All of its production plants are equipped with highly modern systems and offer a variety of technologies for producing premium fresh convenience food products.&#160;Culinor will operate as an autonomous competence centre within ORIOR and serve as the European platform for targeting the entire European market.&#160;Core business strengthenedORIOR is confident that the fresh convenience market segment will grow in importance over time. With the slow disappearance of long-established daily patterns, consumers are having increasingly fewer large meals and are also less likely to eat at fixed times of the day. Instead, there are certain windows of time when smaller meals are quickly prepared and eaten. High-quality fresh convenience products that address this trend are in high demand. Belgium is considered one of the most innovative countries in Europe when it comes to sophisticated convenience food and it has repeatedly set international trends with its creations and new developments. Culinor Food Group, with its large portfolio of high-quality products, its specialisation on chilled prepared meals and ready-made meal components, and agile structures, is one of the foremost players in the highly innovative market of fresh convenience food. Its products range from classic local cuisine such as stamppot and vol-au-vent to meat, fish and oven entrees and stews, soups and sauces. Culinor's portfolio also includes innovative convenience concepts such as the to-go line “Meal in the Box” or the ready-made “Wok &#x26; Dinner Mix” meal kits.&#160;Culinor CEO Filip De Spiegeleire appointed to the Management Board of ORIOR AGEntrepreneur and fresh convenience pioneer Filip De Spiegeleire will stay on as CEO of Culinor Food Group as will his long-standing and experienced management team. Filip De Spiegeleire will also be appointed CEO of ORIOR Europe and will take a seat on the Management Board of ORIOR AG.&#160;“This acquisition extends our leadership position in our core business of premium fresh convenience products beyond our domestic market and diversifies our existing target markets and sales channels. That, in turn, creates additional growth potential and new inspiration for innovation. I'm very pleased to welcome an outstanding company like Culinor and such a talented and experienced entrepreneur as Filip De Spiegeleire to the ORIOR family. Culinor's pioneer spirit and uniqueness, its constant pursuit of excellence in premium fresh convenience food and its corporate culture all fit together perfectly for us,” remarks Daniel Lutz, CEO of ORIOR Group.&#160;Filip De Spiegeleire is also looking forward to the new alliance: “ORIOR is the perfect fit – joining forces will make Culinor's future brighter. I'm thrilled to see Culinor become part of ORIOR Group. My team and I are ready and eager to work together on writing the next chapter of the ORIOR success story.”&#160;OutlookLooking ahead to the second half of 2016, we expect the general environment to be very challenging and revenues will continue to be pressured by market forces and, in particular, pricing dynamics. Also the procurement front will remain challenging. Despite this challenging environment we expect further positive triggers for our operating performance thanks to the measures and initiatives that have been introduced. The vigorous implementation of the ORIOR 2020 strategy will remain a priority in the second half of the year, with a special emphasis on innovation and our well-established and well-known brands. Attention will also centre on the successful integration of Culinor as an autonomous ORIOR competence centre in Europe. The goals with respect to steady value creation laid out in the ORIOR 2020 strategy are unchanged.

<ul><li>Improvement of first-half operating results: EBITDA up 1.3% to CHF 22.7 million, EBIT up 3.0% to CHF 15.5 million and net profit up 17.4% to CHF 12.1 million.</li><li>Revenues of CHF 239.5 million 0.8% lower than in 1H 2015.</li><li>Culinor Food Group acquired, strengthening of ORIOR's core competence in the attractive premium fresh convenience food market.</li><li>Culinor CEO Filip De Spiegeleire appointed to the Management Board of ORIOR AG.</li></ul>

ORIOR presents a good first half of 2016 and expands into the European market

Update on ORIOR 2020 strategyDaniel Lutz, CEO, and Ricarda Demarmels, CFO, opened the Investor Day with an update on the ORIOR 2020 strategy. Management outlined the ongoing projects and measures launched under this strategy and gave several examples to document the progress that has been made during the past few months. The new branding concept for tofu specialist “Noppa's” and the latest product launches, for example Rapelli's new BBQ hit, an Italian-style chicken sausage, were presented, highlighting the “House of Innovation” and “Brand strengthening and expansion” pillars of the ORIOR 2020 strategy. The analysis stage of the two major projects, the operational footprint project and the sourcing project, was completed and both are now being implemented. Management also informed the participants about the planned concentration of all vegetarian product competencies at the site in Root and the ensuing integration of the site in Rüti into the Fredag center of competence. All ten employees in Rüti will be given the opportunity to continue the success story of Noppa's specialities.&#160;Tradition, craftsmanship and passion on display at RapelliAfter giving a brief overview of Rapelli SA, Glauco Martinetti, CEO of Rapelli, led participants on a tour of the production site in Stabio. Rapelli presents the best that Ticino has to offer in Italian-style cold cuts with its “Rapelli” heritage brand, “Ticinella” terroir brand and “Val Mara” artisanal brand. Since 1929 Rapelli's special combination of know-how, tradition, craftsmanship and passion has produced a long line of specialities made from exquisite ingredients and with an uncompromising commitment to quality. Participants were able to discover first hand during a tasting at La Bottega Rapelli, where the brand's latest television commercial was also made. La Bottega Rapelli – a showcase of the unique world of pleasure the Mastri Salumieri have to offer with that extra portion of zest for life for which Ticino is renowned.

ORIOR's Investor Day welcomes the investors and analysts to its Rapelli site in Stabio today. The event provided the guests with valuable insights on the tasty world created by Rapelli's Mastri Salumieri.

Successful ORIOR Investor Day at Rapelli's Mastri Salumieri

ORIOR AG held its 6th Annual General Meeting as a listed company in Zurich today. The 601 shareholders who attended the meeting represented 3,526,025 of the voting rights corresponding to 59.51% of the outstanding share capital consisting of 5,925,000 shares.&#160;All of the Board of Directors' proposals were passed by the Annual General Meeting. The annual report, the annual accounts and the consolidated financial statements for 2015 were approved, as was the fifth consecutive increase in the dividend. The net dividend payment of CHF 2.03 per registered share (previous year: CHF 2.00) will be paid on or around 18 April 2016. The dividend will be paid out from capital contribution reserves and is therefore exempt from withholding tax for Swiss residents. ORIOR AG's attractive dividend policy since becoming a listed company was confirmed in its ORIOR 2020 strategy; a continued steady increase in the dividend in absolute terms is targeted.&#160;Shareholders subsequently elected the following previously serving Board members for another one-year term of office: Rolf U. Sutter as Chairman, Christoph Clavadetscher, Edgar Fluri, Dominik Sauter and Monika Walser. Entrepreneur Walter Lüthi was elected to the Board of Directors as a new member, likewise for a term of one year. Rolf Friedli had decided not to stand for re-election after serving on the Board of Directors for more than ten years. Board Chairman Rolf U. Sutter thanked him for his many achievements on behalf of ORIOR Group. At the first constitutive meeting of the Board of Directors after the conclusion of the Annual General Meeting, Edgar Fluri, a long-serving member of the Board of Directors with national and international business experience, was elected Vice Chairman. The Annual General Meeting further elected the three proposed candidates for the Compensation Committee – Christoph Clavadetscher, Rolf U. Sutter and Monika Walser.&#160;&#160;Ernst &#x26; Young AG, Basel, was also confirmed as auditor for the 2016 financial year and Ines Pöschel was re-elected to serve as independent proxy until the conclusion of the next Annual General Meeting in 2017.&#160;&#160;&#160;Shareholders approved the Board of Directors' proposal to extend the authorized share capital that expired on 25 March 2016, in a reduced amount, to 12 April 2018 as well as various other amendments to Article 3b of the company's Articles of Association in connection with authorized share capital. Moreover, all proposals regarding compensation of the members of the Board of Directors and the Management Board were approved.&#160;

<ul><li>Dividend increased for the fifth consecutive year, to CHF 2.03 per share</li><li>Walter Lüthi elected to ORIOR AG's Board of Directors as a new member; Rolf Friedli steps down after more than ten years of service</li><li>Board of Directors elects Edgar Fluri Vice Chairman</li></ul>

ORIOR, the Swiss leader for fresh convenience food and refined meat products, performed well in the face of an extremely challenging market environment in 2015. Revenues declined but operating profit and margins improved, operating cash flow increased significantly and the balance sheet metrics were strengthened once again. These results confirm that ORIOR has successfully started the new chapter and – true to its commitment towards a strong financial profile – created a strong foundation for future growth and the continuation of its attractive dividend policy.ORIOR Group generated revenues of CHF 500.1 million in 2015, which represents a decline of 4.1% or 3.6% at constant exchange rates (previous year: CHF 521.6 million). This can be traced primarily to the contraction of the Swiss retail and food service markets, especially along the border and in the tourist regions. A more sharply focused product portfolio and a steadfast focus on sustainable and profitable growth were also contributing factors; they represent an important investment in future growth and margins. EBITDA increased by 1.3% to CHF 48.7 million and the corresponding margin widened by 52 basis points to 9.7% (previous year: CHF 48.0 million). Thanks to slightly lower depreciation and amortisation, operating profit (EBIT) rose by 4.1% to CHF 33.8 million and the EBIT margin advanced by 54 basis points to 6.8% (previous year: CHF 32.5 million). Profit before tax rose by 5.0% to CHF 31.3 million; net income, however, declined slightly by 3.5% to CHF 25.6 million (previous year: CHF 26.5 million) or CHF 4.32 per share due to negative currency effects and higher taxes.&#160;ORIOR generated a sharply higher operating cash flow, which jumped 45.6% to CHF 41.7 million (2014: CHF 28.6 million). The equity ratio was increased once again and stood at 58.6% at the end of the reporting period. Another slight increase in the dividendThe Board of Directors will, for the fifth consecutive year, propose an increase in the dividend to CHF 2.03 per share at the Annual General Meeting on 12 April 2016. This corresponds to a payout ratio of 47.0%. Within the scope of the ORIOR 2020 strategy, the attractive dividend policy was reaffirmed. The proposed dividend will be paid out from capital contribution reserves and is therefore exempt from Swiss withholding tax.&#160;Business review by segmentORIOR Convenience, the specialist for fresh convenience food with its three competence centres Fredag, Le Patron and Pastinella, could not quite repeat its strong top-line and earnings performance from the previous fiscal year. Its fresh ready-made dishes continued to sell well, as did its entire line of vegetarian and vegan products. Fresh pasta products experienced intense market pressure and these revenues showed another year-on-year decline. Business with terrine specialities grew thanks to new creations such as terrines in jars and other novelties from the “Le Patron” brand. Overall, the Convenience segment reported a slight 2.1% decline in revenues to CHF 202.7 million. Resulting EBITDA of CHF 27.7 million corresponds to a margin of 13.7% compared to 14.3% in the previous year.&#160;The Refinement segment and its competence centres Rapelli, Albert Spiess and Möfag achieved revenues of CHF 298.5 million, a decline of 5.6% versus the previous year. This contraction can be traced to lower raw material prices and the resulting price concessions as well as to portfolio streamlining with a focus on growth and margins. Low raw material prices had a positive impact on profitability, however, which improved despite the negative inflation. Intensified brand management and higher marketing investments lifted the revenues of the branded products. Segment EBITDA rose by 4.9% to CHF 23.5 million, resulting in an EBITDA margin of 7.9% (2014: 7.1%).&#160;The ORIOR Corporate and Export segment's results for 2015 were unable to match the figures from the preceding year.. The appreciation of the Swiss franc is the main reason for the shortfall, as this diminished the export chances of specialities made in Switzerland and led to a deterioration in the general business environment. Together with the absence of revenues from the logistics company Lineafresca, divested in May of 2014, revenues in the Corporate and Export segment therefore declined to CHF 21.3 million from CHF 26.0 million in the previous year. At constant exchange rates and factoring out the deconsolidation of Lineafresca, revenues increased by 2.9% despite the challenging export situation.&#160;Orior 2020 StrategyORIOR's new management launched a strategy review headlined “ORIOR 2020” in May 2015. In September the new strategy was presented and the execution initiated. The principal aim of the strategy is steady value creation. With its key pillars “House of Innovation”, “Brand strengthening and expansion”, “Agility and cost efficiency”, “The ORIOR responsibility” and “We are ORIOR”, the revised strategy lays the foundation for a sustainable and profitable continuation of &#160;ORIOR's success story.&#160;Important steps takenInnovation is crucial for future success and also for maintaining a pivotal role in shaping the market landscape. Innovation is going beyond the product into new concepts, services and processes. With this in mind, innovation is now – under the oversight and management of the Group Innovation Manager – being advanced throughout the whole value chain and across all competence centres.&#160;Additionally, ORIOR signed a licensing and cooperation agreement with the German veggie pioneer Tofutown. Beginning 1 March 2016, ORIOR's “Nature Gourmet” products will be exclusively produced and marketed by Tofutown for the German, Austrian and Luxembourg markets.&#160;Change in the Board of DirectorsRolf Friedli, the long-standing Vice Chairman of the Board of Directors of ORIOR AG, will not be standing for re-election at the Annual General Meeting on 12 April 2016. He has served on the board for more than ten years and helped ORIOR to set important milestones during this period. The Board of Directors, Executive Management and the employees are grateful to Rolf Friedli for his extraordinary services. The Board of Directors of ORIOR AG will propose entrepreneur Walter Lüthi for election to the Board of Directors as a new director at the Annual General Meeting on 12 April 2016.&#160;OutlookWe expect the trading environment to remain challenging in 2016. Swiss retailers and food service providers will remain under pressure and vulnerable to general economic developments. We expect – particularly in the first half of the year – further price markdowns, pressure from imports, unabated cross-border shopping, and a further deterioration in consumer sentiment. As for raw materials, prices for beef are expected to remain high due to persisting supply constraints. Pork prices could edge higher during the course of 2016. To address these challenging conditions, we will continue to focus our attention on innovation, portfolio management and cost efficiency in 2016. We will intensify our innovation at the product level and beyond to include concepts, services and processes, with the objective of capturing the changing consumer eating habits and maintaining our position in the vanguard of market developments. The philosophy of the competence centres puts us in uniquely close contact with customers and the market, which, in turn, allows us to react quickly and with agility. Together with the new strategy and group-wide initiatives and measures that have been taken, ORIOR laid a broad and sturdy foundation from which it can look with confidence to what will undoubtedly be a very challenging future.&#160;ORIOR Group's key figures for the 2015 financial year&#160;<table border="1" cellpadding="0" cellspacing="0" width="416"><tbody><tr><td valign="bottom" width="199">In CHF 000</td><td valign="bottom" width="72">2015</td><td valign="bottom" width="60">∆ in %</td><td valign="bottom" width="85">2014</td></tr><tr><td valign="top" width="199">Revenues</td><td valign="top" width="72">500'128 </td><td valign="top" width="60">-4.1%</td><td valign="top" width="85">521'630 </td></tr><tr><td valign="bottom" width="199">EBITDA</td><td valign="bottom" width="72">48'655</td><td valign="bottom" width="60">+1.3%</td><td valign="bottom" width="85">48'032</td></tr><tr><td valign="bottom" width="199">as a % of revenues</td><td valign="bottom" width="72">9.7%</td><td valign="bottom" width="60">&#160;</td><td valign="bottom" width="85">9.2%</td></tr><tr><td valign="bottom" width="199">EBIT</td><td valign="bottom" width="72">33'848</td><td valign="bottom" width="60">+4.1%</td><td valign="bottom" width="85">32'508</td></tr><tr><td valign="bottom" width="199">as a % of revenues</td><td valign="bottom" width="72">6.8%</td><td valign="bottom" width="60">&#160;</td><td valign="bottom" width="85">6.2%</td></tr><tr><td valign="bottom" width="199">Profit before tax</td><td valign="bottom" width="72">31'339</td><td valign="bottom" width="60">+5.0%</td><td valign="bottom" width="85">29'855</td></tr><tr><td valign="bottom" width="199">as a % of revenues</td><td valign="bottom" width="72">6.3%</td><td valign="bottom" width="60">&#160;</td><td valign="bottom" width="85">5.7%</td></tr><tr><td valign="bottom" width="199">Profit for the year</td><td valign="bottom" width="72">25'563</td><td valign="bottom" width="60">-3.5%</td><td valign="bottom" width="85">26'495</td></tr><tr><td valign="bottom" width="199">as a % of revenues</td><td valign="bottom" width="72">5.1%</td><td valign="bottom" width="60">&#160;</td><td valign="bottom" width="85">5.1%</td></tr><tr><td valign="bottom" width="199">Net debt, third parties</td><td valign="bottom" width="72">50'358</td><td valign="bottom" width="60">&#160;</td><td valign="bottom" width="85">69'959</td></tr><tr><td valign="bottom" width="199">Shareholders' equity</td><td valign="bottom" width="72">233'643</td><td valign="bottom" width="60">&#160;</td><td valign="bottom" width="85">226'657</td></tr><tr><td valign="bottom" width="199">Equity ratio</td><td valign="bottom" width="72">58.6%</td><td valign="bottom" width="60">&#160;</td><td valign="bottom" width="85">53.5%</td></tr></tbody></table>

<ul><li>Operating profit increased; EBIT +4.1%, EBITDA +1.3%.</li><li>Revenues declined 4.1% to CHF 500.1 million, mainly attributable to the strength of the Swiss franc and negative inflation, as well as streamlining of the product portfolio.</li><li>Significant increase in operating cash flow to CHF 41.7 million.</li><li>Renewed increase in the dividend to CHF 2.03 per share proposed.</li><li>Change in the Board of Directors: Walter Lüthi will be proposed as a new member of the Board of Directors of ORIOR AG; Rolf Friedli is stepping down after more than ten years of service.</li></ul>

ORIOR performs well in a challenging environment, increases its operating profit and again proposes to raise its dividend

ORIOR House of Innovation: Champion Model initiated throughout the GroupA high level of innovation is crucial to ORIOR's success going forward and it must be further strengthened, not only with regard to the products but also in terms of concepts, services and processes. As Group Innovation Manager, Mr. Oscar Marini will oversee and advance the pursuit of innovation throughout the value chain and across all competence centres within the Champion Model. His remarkable acumen in discerning trends, his passion for culinary delights and his willingness to transform even unconventional ideas into practical solutions will have a creative impact on innovation.&#160;New CEO for Pastinella as of 1 January 2016In addition to his role as Group Innovation Manager, Oscar Marini will assume management responsibility for Pastinella in Oberentfelden as of 1 January 2016. The pasta market is highly competitive and under pressure from foreign suppliers. Success in this segment requires an astute focus on existing and new market niches and a greater emphasis on innovation, quality and freshness. Under the leadership of Oscar Marini, the focus on fresh pasta will be sharpened considerably and the competence centre philosophy of ORIOR accentuated.Daniel Lutz, CEO of ORIOR AG: “With Oscar Marini as Group Innovation Manager and CEO of Pastinella, we have enlisted the talents of an expert with more than 25 years of experience in innovation management and strategy development as well as a strong track record in the pasta business. We are looking forward to this reinforcement.”&#160;Strategic partnership with German veggie pioneerORIOR and Tofutown have signed a licensing and cooperation agreement. Beginning 1 March 2016, ORIOR's NATURE GOURMET products will be exclusively produced and marketed by Tofutown – the German veggie pioneer – for the Luxembourg, Austrian and German markets. Tofutown, headquartered in Wiesbaum (DE), is the leading producer and distributor of organic vegetarian products in Germany. The NATURE GOURMET brand will be pan-Europeanized and strengthened through the collaboration with Tofutown. “We are delighted to have the opportunity to produce, market and continually develop NATURE GOURMET's top quality products within the scope of this strategic partnership with ORIOR. I am also looking forward to building a long-lasting, successful business relationship with my Swiss colleagues,” remarks Bernd Drosihn, CEO of Tofutown. Daniel Lutz, CEO of ORIOR, is likewise pleased: “ORIOR is the veggie pioneer in Switzerland; Tofutown is the veggie pioneer in Germany – this partnership offers unique potential.”

<ul><li>Oscar Marini the new CEO of Pastinella and Group Innovation Manager of ORIOR AG</li><li>Strategic partnership with veggie pioneer Tofutown signed</li></ul>

ORIOR AG: Powering ahead into 2016

The ORIOR 2020 strategy was developed in an iterative process in which senior managers and other key employees throughout the ORIOR Group participated together with the Board of Directors, which approved the final plan. ORIOR 2020 creates the framework for the next chapter of ORIOR's sustained corporate success. An attractive dividend policy was reaffirmed in this context. Sales growth and absolute EBITDA increase were communicated as selected key indicators of steady value creation.The competence centres philosophy will be strengthened and the Group's potential will be successfully leveraged under the new Champion Model. In 2020 ORIOR will be operating in Europe.&#160;House of InnovationIn Switzerland, ORIOR is in a class of its own as a true innovator for its brands and private labels. ORIOR is striving to better understand consumers and their consumption patterns and to extend its innovation beyond the product into new concepts, services and processes. Achieving these goals will require further progress in terms of insights, flexibility and speed. Innovation will be reorganized and strengthened as part of the Champion Model. Under this model – the new functional Group Innovation Manager will cultivate and promote innovation – innovation throughout the entire value chain and throughout the Group.&#160;Brand strengthening and expansionORIOR's brands are well known. Efforts to differentiate and refine core brands will be intensified by increasing our investments into marketing, which will include the greater use of modern communications tools and selective point-of-sales activities. Marketing competencies will be further broadened and deepened driven by a new organizational structure within the Champion Model. The new brand positioning for Rapelli will be launched in 2016.&#160;Agility and cost efficiencyFlat hierarchies and short decision-making processes bring us closer to customers and consumers. Group-driven strengths and scale will be better utilized across all competence-centres to create efficiency advantages, enhance know-how and steadily improve production and process workflows. Within the scope of an ongoing Group-wide operational footprint analysis, the Churwalden site was closed to optimise capacity at the Davos-Frauenkirch meat curing facility. A procurement project was also launched to drive cost savings and strengthen the procurement organisation. It will centralize the sourcing of raw material, packaging material and services that are required throughout the Group, provided such centralization is value-adding.&#160;The ORIOR responsibilitySustainability is part of our core business and the foundation of Excellence in Food. We assume responsibility at every stage of the value chain. We are attentive to the interests of all stakeholders and target groups and our activities are in accord with the principles of sustainability. Key points are sustainable procurement of raw materials, environmental stewardship, animal welfare, the continuous improvement of our recipes with natural ingredients and reduced levels of sodium and sugar, and training and development programs for employees.&#160;We are ORIOR&#160;ORIOR is proud of the cultural diversity evident in its competence centres. “We are ORIOR” is predicated on basic entrepreneurial spirit: That makes us strong and facilitates the successful execution of the ORIOR 2020 strategy.&#160;A word of thanksThe Management is grateful for the drive and determination of all employees involved in the ORIOR 2020 strategy process and its now ongoing implementation.&#160;DownloadA presentation on the ORIOR 2020 strategy can be downloaded from 11:30 a.m. (CET) on 16&#160;November 2015 by clicking on the following link:<a href="http://www.orior.ch/en/investor-relations/presentations/">http://www.orior.ch/en/investor-relations/presentations/</a>

ORIOR'S new management brought a four-month strategy process headlined “ORIOR 2020” to a successful conclusion in September 2015. The principal aim of the strategy is steady value creation supported by five strategic pillars: “House of Innovation”, “Brand strengthening and expansion”, “Agility and cost efficiency”, “The ORIOR responsibility” and “We are ORIOR”.

ORIOR 2020 - Embracing the future with an entrepreneurial spirit

Leading Swiss food group ORIOR, which specialises in fresh convenience foods and refined meats, performed well in a challenging environment in the first half of 2015, increasing operating income (EBIT) by 6.9% to CHF 15.0 million and the margin by 66 basis points to 6.2%. Exchange rate-adjusted profit increased by 6.4 % to CHF 11.5 million. In a shrinking overall market the Group largely maintained its volumes and won some additional market shares thanks to strong partnerships and a high pace of innovation. The operating environment was affected by the strong Swiss Franc, and this was reflected in revenues, which declined by 4.6%. Favourable purchasing conditions and a focus on operational efficiency led to a 48 basis points improvement in the EBITDA margin to 9.3%. Thanks to an increased focus on working capital, operating cash flow increased sharply, from CHF 2.3 million to CHF 13.9 million.&#160;The strength of the Swiss Franc had a significant impact on the first six months of 2015. The retail and food service businesses both felt the effects, especially in tourist areas and border regions. The strong Swiss Franc and associated price discounts, allied with the negative inflation caused by current low raw materials prices and a decline in nominal export sales, had a negative impact on ORIOR's revenues. However, thanks to its strong market positions and innovation power, the Group largely maintained its volumes.&#160;ORIOR Segments on the right trackThe Convenience Segment outperformed the market once again. The main drivers were vegetarian and vegan products and fresh ready meals. Only the fresh pasta sector, as expected, remained under pressure from foreign suppliers. Revenues were down slightly as a result, slipping by 1.5% to CHF 97.6 million. EBIT couldn't quite be maintained at the prior-year level, owing to higher investment in marketing and sales, as well as higher production costs resulting from a broader and deeper range. It fell 4.4% to CHF 11.1 million. Success in this segment still depends on a high pace of innovation and the flexibility to respond quickly to new trends.&#160;The Refinement Segment expanded its already strong market position and significantly increased profitability. Thanks to their strong market and brand positions, Rapelli and Möfag remain the segment's main growth drivers. The Refinement Segment generated revenues of CHF 144.8 million in the first half of 2015. EBIT went up 34.1% and the EBIT margin increased by 147 basis points from 3.4% to 4.9%. The low price of raw materials and correspondingly decreased selling prices in the retail trade had a negative impact on revenues, but a positive one on the EBIT margin.&#160;Pleasingly, there was a small rise in the volume of export sales. However, in nominal terms exports were lower than in the previous year owing to currency influences. This, together with the sale of Lineafresca, caused a decline in sales from CHF 14.3 million to CHF 10.0 million.&#160;Rigorous focus on innovationWith its innovative power, craftsmanship and consistent focus on freshness and quality, ORIOR is underlining its leading position in attractive niches and shaping the market as a ground-breaking pioneer. In response to the fashion for ultra-fresh ready meals, ORIOR created new recipes and further expanded its vegetarian and vegan range; it gained market shares again in both areas. The Refinement Segment also developed and launched new concepts. Regional specialties such as the Rapelli and Ticinella Limited Edition, Möfag's "Meat Chips", and Grisons delicacies from Albert Spiess have helped expand already strong market positions. The segment has always nurtured deeply-rooted traditions and craftsmanship, so it is very much in tune with the trend towards authentic regional products, which looks set to continue and intensify.&#160;Pressing ahead with growth initiatives and the ORIOR 2020 strategyThe new management team has launched immediate growth initiatives in various areas, as well as measures to improve profitability. These include sharpening up the "Ticinella" and "Albert Spiess" brands, streamlining the product portfolio, wide-ranging manufacturing plans across all the competence centres and sites, and group-wide purchasing of raw materials. In May 2015 the new management launched a strategy process called "ORIOR 2020", which involves not only the Board of Directors, Management Board and Extended Management Board, but especially middle managers and other key personnel. The 2020 strategy will provide the basis for the next chapters in ORIOR's success story.&#160;Confident outlookORIOR expects operating conditions to remain challenging in the second half of 2015, so revenues are likely to remain under pressure. On the other hand, the favourable conditions for purchasing raw materials are expected to continue, which should have a positive effect.&#160;ORIOR continues to invest in innovation and in its brands so it can expand its leading market positions in selected niches. At the same time, it is sharpening up its product portfolio and concentrating even more rigorously on long-term profitable growth. Continuous work on cost structures, efficiency and agility remains a priority. In summary, ORIOR is confident about the second half of the year.

<ul><li>Operating income and margins increased</li><li>Volumes largely maintained in declining overall market, and market shares increased in selected categories</li><li>Revenues declined as a result of the strong Swiss Franc and food price deflation</li><li>Steep increase in operating cash flow</li><li>Successful start for new management team</li></ul>

ORIOR increases operating income in a challenging environment

ORIOR AG's fifth annual general meeting as a listed company was held in Zurich today. The 553 shareholders attending represented 3'890'035 voting shares, or 65.65% of the total share capital of 5'925'000 issued shares.&#160;The AGM approved all the proposals put forward by the Board of Directors. The annual report and the 2014 annual and group financial statements were approved, as was an increase in the dividend. The dividend payment of CHF 2.00 net per registered share (prior year: CHF 1.97) is to be made on or around 1 April 2015. This payment is being made from the capital contribution reserve and so will not be subject to deduction of withholding tax. The pay-out ratio of 44.6% is in line with ORIOR's defined dividend policy.&#160;In the elections held during the meeting, existing Board members Rolf U. Sutter, as Chairman, Rolf Friedli, Christoph Clavadetscher, Edgar Fluri, Dominik Sauter and Monika Walser were all re-elected for another one-year term. Christoph Clavadetscher, Rolf Friedli und Rolf U. Sutter were re-elected as members of the Compensation Committee. In addition, Ernst &#x26; Young AG, Basel, was confirmed as auditor for the 2015 financial year and Ines Pöschel was re-elected as independent proxy until the end of the next Annual General Meeting in 2016.&#160;For the first time since the Ordinance Against Excessive Pay at Stock Exchange Listed Companies came into force, shareholders voted on the compensation paid to Members of the Board of Directors and Management Board. The relevant proposals were accepted by a large majority.&#160;Daniel Lutz, CEO of ORIOR AG, said the following in his inaugural speech: "The initial market and consumer response to the strong Swiss franc will affect ORIOR too in border regions, tourism and export activities. By focusing on our core segments and brands, and thanks to our strong innovation culture, we are very well positioned. And I can count on a great team who are willing and able to react to changing needs with new offerings. I am very happy to be writing ORIOR's continuing story together with these people."

<ul><li>Dividend raised to CHF 2.00 per share</li><li>All Board members re-elected</li><li>All members of the Compensation Committee re-elected</li><li>All compensation proposals approved</li></ul>

Shareholders approve all Board proposals

Leading Swiss food group ORIOR AG, which specialises in fresh convenience foods and meat refinement, can look back on a good 2014. Revenue was up slightly, while margins increased at group level. The main growth driver was the Convenience business which did particularly well with vegetarian specialities, poultry products and gluten and lactose-free products. Based on its leading position in targeted markets and its high level of innovation, ORIOR Group can look forward with confidence.&#160;The ORIOR Group generated revenues of CHF&#160;521.6 million in 2014, thus exceeding the prior-year figure despite significantly lower export sales. In the main Swiss market there was revenue growth of 1.4%. Thanks to a strong second half, EBITDA rose 2.2% to CHF 48.0 million, giving a margin of 9.2% compared to 9.0% in the previous year. Profit for the year was 5.1% higher than in 2013 at CHF 26.5 million. This translates into earnings per share of CHF 4.48 (2013: CHF 4.26 per share).&#160;As expected, operating cash flow fell from CHF 40.5 million in 2013 to CHF 28.6 million. The main reasons for the decline were changes in payment conditions and the payment of taxes from previous years. The equity ratio rose again to 53.5%. Dividend increases slightly againThe Board of Directors is again proposing a higher dividend of CHF 2.00 per share to the Annual General Meeting of 26 March 2015. This gives a distribution ratio of 44.6% of the net profit, which conforms to ORIOR's dividend policy. The payment will be made from capital contribution reserves and so is not subject to Swiss withholding tax. Segments operating at a good levelFor 2014 ORIOR's Convenience segment, which specialises in fresh convenience food with its three competence centres – Fredag, Pastinella and Le Patron, reported sales growth and a margin at around the prior-year level.Revenues rose from CHF 199.1 million in the previous year to CHF 207.0 million. Ultra-fresh menus, poultry products and vegetarian specialities performed particularly well again. The vegetarian line was boosted by the acquisition of organic tofu specialist Noppa AG. The EBITDA margin remained the same as in the previous year at 14.3%.&#160;The Refinement segment, with its competence centres Rapelli, Albert Spiess and Möfag, came in just below the 2013 performance with revenues of CHF 316.3 million. High raw materials prices once again had a negative impact on the gross margin, resulting in a reduction in the EBITDA margin from 7.4% in the previous year to 7.1%. Thanks to the good product mix during the year under review, the segment did increase its volume of sales, but EBIT was still down on the previous year at CHF 14.5 million (2013: CHF 15.8 million). The main drivers of growth throughout the year were the Rapelli and Möfag competence centres, with Möfag once again achieving record sales. The Albert Spiess competence centre was unable in the second six months of the year to compensate fully for its first-half results, which were slightly below expectations.&#160;The Corporate and Export segment was restructured during the year under review. ORIOR sold its logistics company Lineafresca to a longstanding transportation partner, and formed a strategic alliance with this partner. Export business fell short of expectations in 2014. Sales fell from CHF 22.3 million in the previous year to CHF 19.5 million as the main export market, France, continued to suffer under difficult economic conditions. Added to this, one of the main distributors used by ORIOR went bankrupt. The vegetarian and vegan products sold under the "Nature Gourmet" brand enjoyed healthy growth. Sales increased in Germany in particular.&#160;OutlookThe Convenience segment is likely to perform well this year too. Fresh convenience and ultra-fresh convenience will remain fast-growing markets going forward. More and more consumers are looking for quick and easy meals that offer top quality, health and variety. The market for vegetarian and vegan products will also see strong growth. The acquisition of Noppa AG to round out our portfolio is delivering additional impetus in the ongoing development of this product portfolio. There is also growing consumer demand for a wider range of products catering for specific nutritional requirements – e.g. diets and food intolerances. Thanks to its leading position, ORIOR will benefit from this growth.&#160;The Refinement segment also expects slight growth for 2015. Lower pork prices should have a positive effect on profitability in the first few months of the year, but prices are then likely to be adjusted in the spring. For products that require maturing, like cured hams, the positive price effect is delayed by the relevant maturing time, i.e. by up to 18 months. Supplies of Swiss beef are likely to remain low this year, which will keep beef prices up.&#160;ORIOR expects export business to either hold steady or decline slightly this year. The strong Swiss franc is the main negative factor here, though the relatively modest level of export sales will only have a minimal impact on the profitability of the group as a whole.&#160;From the current perspective, the strength of the Swiss currency is not expected to have a substantial influence. There is no doubt that border regions and tourism will see revenues decline, and this could affect ORIOR indirectly. The response of the market and market players to the strong Swiss franc could increase competition if, for example, imports increase. ORIOR's core businesses are ideally focused, and together with a strong culture of innovation and a focus on quality and freshness, ORIOR's product and brand portfolio is very well positioned.&#160;ORIOR Group's key figures for the 2014 financial year&#160;<table border="1" cellpadding="0" cellspacing="0" width="443"><tbody><tr><td valign="bottom" width="212">in CHF 000</td><td valign="bottom" width="77">2014</td><td valign="bottom" width="63">∆ in %</td><td valign="bottom" width="91">2013Restated1</td></tr><tr><td valign="top" width="212">Revenues</td><td valign="top" width="77">521'630 </td><td valign="top" width="63">+0.3%</td><td valign="top" width="91">520'033</td></tr><tr><td valign="bottom" width="212">EBITDA</td><td valign="bottom" width="77">48'032</td><td valign="bottom" width="63">+2.2%</td><td valign="bottom" width="91">46'979</td></tr><tr><td valign="bottom" width="212">as % of revenues</td><td valign="bottom" width="77">9.2%</td><td valign="bottom" width="63">&#160;</td><td valign="bottom" width="91">9.0%</td></tr><tr><td valign="bottom" width="212">EBIT</td><td valign="bottom" width="77">32'508</td><td valign="bottom" width="63">+3.5%</td><td valign="bottom" width="91">31'423</td></tr><tr><td valign="bottom" width="212">as % of revenues</td><td valign="bottom" width="77">6.2%</td><td valign="bottom" width="63">&#160;</td><td valign="bottom" width="91">6.0%</td></tr><tr><td valign="bottom" width="212">Profit for the year</td><td valign="bottom" width="77">26'495</td><td valign="bottom" width="63">+5.1%</td><td valign="bottom" width="91">25'202</td></tr><tr><td valign="bottom" width="212">as % of revenues</td><td valign="bottom" width="77">5.1%</td><td valign="bottom" width="63">&#160;</td><td valign="bottom" width="91">4.8%</td></tr><tr><td valign="bottom" width="212">Net debt, third parties</td><td valign="bottom" width="77">69'959</td><td valign="bottom" width="63">–6.5%</td><td valign="bottom" width="91">74'854</td></tr><tr><td valign="bottom" width="212">Shareholders' equity</td><td valign="bottom" width="77">226'657</td><td valign="bottom" width="63">+8.0%</td><td valign="bottom" width="91">209'940</td></tr><tr><td valign="bottom" width="212">Equity ratio</td><td valign="bottom" width="77">53.5%</td><td valign="bottom" width="63">&#160;</td><td valign="bottom" width="91">50.3%</td></tr></tbody></table> 1 See note 2 in the Financial Report

<ul><li>Revenues up 0.3% to CHF 521.6 million; increase of 1.4% in Switzerland</li><li>EBITDA margin rises to 9.2%</li><li>Profit for the year improves 5.1% to CHF 26.5 million</li><li>Convenience business enhances market position again</li><li>Refinement segment (meat refinement) results held back by high price of raw materials</li><li>Another dividend increase proposed to CHF 2.00 per share</li></ul>

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