Norinvest Group 1st semester 2012

Norinvest Holding SA, a company registered in Geneva, is active in the acquisition, administration and control of participations in the financial and banking sectors. At 30 June 2012, the scope of consolidation encompassed Banque Cramer & Cie SA (BCC), 100% detained and Golay Buchel & Cie SA (GBL), also 100% detained.

For the first six months of 2012, the net revenues of the Group amounted to kCHF 10,432, with a net a loss of kCHF 3,324. This loss was due to the amortization of the Group’s goodwill, to extraordinary administration costs relating to an arbitration case and to other ongoing projects.

At 30 June 2012, Norinvest Goup’s equity amounted to kCHF 42,567, representing 10.1% of total consolidated balance sheet and an equity cover ratio on the consolidated levels 1 and 2 of 202%.

During the second semester of 2012, the business activities of Banque Cramer have progressed according to forecasts and a significant influx of new clients and deposits should lead to an improvement of the results at year end. The commercial activities of Golay in Japan are still incurring difficulties and significant restructuring measures have been initiated.

Interim accounts as at 30 June 2012 of Norinvest Group and Norinvest Holding SA can be found on the internet site www.norinvest.ch.