SFS realizes solid sales growth
News - 25. January 2019
SFS Group achieved solid sales growth of 6.5% in the 2018 financial year, lifting its consolidated sales to CHF 1,739 million. This attractive sales development was broadly based in terms of end markets and geographies. Operating profit rose to CHF 243 million, which corresponds to 14% of net sales.
Sales growth was carried forward by a solid and balanced organic growth rate of 5.0% in the Group's core business activities and reflects the strength of SFS’s customer-specific solutions for selected niche markets. Growth for the period was broadly based and led by the Fastening Systems segment. The growth rate in the second half was slower than in the first half. This can be traced to the challenging comparison base – sales growth in the previous year was strong – and to an unexpectedly sharp, temporary decline in demand during the fourth quarter, especially from customers in the automotive and electronics industry.
Sales growth attributable to changes in the scope of consolidation amounted to 0.8%, which primarily reflects the first-time consolidation of HECO (Ludwig Hettich GmbH & Co. KG) for the second half of the year. Currency movements had a positive effect of 1.4% on reported sales growth.