Diversification helped tide over adversities 

– Sound operating performance amidst a harsh environment
– Segmental performance
– Estimate changes
– Valuation and conclusion

CPH to merge with Uetikon Industrieholding AG

– Higher free float may aid rerating
– Estimates unchanged
– Valuation and conclusion

Adjustments to FY20 earnings outlook

– CPH Group to benefit from significant one-off effects
– Valuation and conclusion

At the forefront of the sustainability

–  Strategy 2020-2024 – Implementation progressing well
– Paper Division well placed to mitigate challenges
– The lynchpin in reducing carbon footprint and sustainable production
– Domestically produced paper essential for sustainability
– Digital media lacks print in sustainability
– Valuation and conclusion

Tapping into growing packaging market

– Perlen Packaging to set-up a film coating plant in Brazil
– Expansion is key to tapping high growth emerging markets like Brazil
– Valuation and conclusion

Navigating a challenging environment

– Muted 1H/20 results, with cautious short-term outlook
– Segmental performance
– Estimate change
– Valuation and conclusion

Resilient performance despite global slowdown

-2019: Unprecedented EBIT margin reflects disciplined execution
-Focus on divisional balancing and expansion of planned activities
-Valuation: significant discount compared to peers

Execution on track despite macroeconomic challenges

– Healthy 1H2019 results, with all time high EBIT margins
– Full-year guidance maintained
– Refinancing to reduce financial burden
– Valuation and conclusion

Diversification: Key to profitable growth

– Chemistry division: Innovation and integration
– Valuation

CPH marks bicentenary with record results

–  2018: Record operating performance across segments

–  Integration coupled with cost efficiencies, the key to growth

– Valuation: outperformed the benchmark by a wide margin