SFS shows a distinct recovery in the second half year | FASTENER EURASIA MAGAZINE
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SFS shows a distinct recovery in the second half year

 

SFS Group achieved organic growth of 3.7% in the second half of the year, driven by a distinct recovery in demand and seasonal effects. Sales for the 2020 financial year amounted to CHF 1,705 million. Higher production capacity utilization and strict cost management as well as mix effects supported profitability in the second half of the year. For the 2020 financial year an operating profit of approximately CHF 227 million was realized, which corresponds to an EBIT margin of 13.3%.

While demand in the first half of the year fell sharply in some areas due to the COVID-19 pandemic, there was a clear and sustained recovery in demand in various end markets and regions from the summer months onward. Especially the automotive-related business are-as that had been heavily impacted by the collapse in demand and factory shutdowns at key customers during the first half of the year showed a strong recovery. In the second half of the year, sales momentum also profited from successful product launches with customers from the electronics industry.

Sales grew organically by 3.7% in the second half of the year compared to the previous year period. In the first half of the year, sales showed a decline of –10.4% in organic terms. For the full year, organic sales growth was a negative –3.2%. Consolidation effects contributed 3.0% to full-year sales, while currency translation had a negative effect of –4.1%. Gross sales for the 2020 financial year amounted to CHF 1,704.9 million.