SFS 2015 sales up 4.6% in local currencies
24 March 2016
SFS Group reported consolidated sales for 2015 of CHF 1.376 billion (approximately 1.25 billion euros), equating to a decline of 0.5% from 2014 in Swiss francs. In local currencies sales grew 4.6%.
Sales for the fastening systems segment were CHF 326.9 million (approximately 298 million euros) – down 2.9% from 2014 but up 4.9% in local currencies. Markets in northern Europe and North America remained buoyant, says SFS, which also reported: “Pleasing signs of an incipient, mild recovery in Europe’s southern markets”.
Engineered components sales grew 1.8% to CHF 740.1 million. Distribution and logistics sales were down 3.1% to CHF 309.3 million. This segment conducts almost all its business within Switzerland so was impacted by subdued demand from Swiss manufacturing customers as a result of the currency appreciation last year.
SFS says the often discussed slowdown in China’s economy had little impact on its Asian business with sales largely driven by innovation projects and end products like smartphones. SFS expects its normalised EBITA margin to be in the range of 12.1% to 13.1% reflecting a significant improvement in profitability in the second half of 2015, as measures taken in response to the surge in the Swiss franc gained traction.
SFS announced separately that
SFS unimarket has won a ten year contract, valued at CHF 40 million, to supply Swiss Federal Railways (SBB) with tools, fasteners and C-parts via its M2M by SFDS automated inventory management system.
