The 2020 financial year

Net Sales
CHF 1181 m
(CHF 1388 m)
CHF -224 m
( CHF -80 m)
Net Profit
CHF -219 m
(CHF -50 m)
CEO Andre Wall und VRP Remo Luetolf

Letter to shareholders

As expected, the biggest crisis in aviation history has left deep scars on RUAG International’s business figures. Among other things, it led to a massive slump in demand throughout the aviation industry. The corresponding activities of RUAG International suffered declines in sales of more than 30 % in some cases. But the pandemic also had a negative impact on business in all other areas through travel restrictions, lockdowns and project postponements. Most of the loss was due to impairments and provisions totalling approximately CHF 160 million, mostly related to COVID-19.
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Gripen Pylon Nutzlastaufhängung

Key figures and key events

Overall, the Group generated net sales of CHF 1,181 million, a decrease of 14.9% compared to the previous year. Adjusted for exchange rate effects, the decline amounts to 12.4%. Order intake decreased by 5.2% to CHF 1,214 million and the volume of orders declined by 4.9% to CHF 1,169 million. The operating result (EBIT) amounted to CHF -224 million and the net loss to CHF -219 million, while cash flow from operating activities was still slightly positive at CHF 19 million. The negative change is mainly due to a decline in sales of around 30% in the aviation businesses.
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RUAG Aviation Annual Key Image Report 2017

The segment's business year

In 2020, the operating business developed differently in the divisions – although the effects of the pandemic could be felt in all business segments. Special write-offs and provisions amounting to around CHF 160 million were the consequence and these weighed heavily on the company's results. RUAG Space, RUAG Aerostructures and RUAG MRO International posted negative EBIT as a result, with net sales declining. Encouragingly, RUAG Ammotec again succeeded in increasing both sales and EBIT in 2020 and proved extremely robust even in the COVID-19 crisis.
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"The pandemic has fundamentally changed the international economic environment and led to our decision to stop building an aerospace group. Instead, in consultation with the owner, we have decided to develop the business segment individually to their best advantage. The economic starting position remains extremely challenging."

André Wall, CEO RUAG Group

Read the media release