The 2024 financial year saw SFS Group operating in a challenging economic environment. However, organic growth of 0.1% was realised and the set sales target was achieved with sales amounting to CHF 3.04 billion (approximately €3.24 billion). This is however a -1.7% reduction compared to 2023 and is attributable to the persistently strong negative currency effects.
The challenging environment of the first half of 2024 improved to a lesser degree than expected in the second half of the year. Global economic momentum fell short of expectations throughout the entire reporting period, primarily due to geopolitical tensions and economic uncertainties that resulted in lower rates of investment on the international stage, as well as reduced demand.
The Engineered Components, Fastening Systems and Distribution & Logistics segments operated in different market environments. While demand that was more stable and higher overall enabled the Engineered Components segment to achieve good results in the 2024 financial year, market demand in the Fastening Systems segment only started to improve in the fourth quarter. Year-over-year, economic momentum in the Distribution & Logistics segment was more restrained for the entire financial year.
Having spent a decade in the fastener industry experiencing every facet – from steel mills, fastener manufacturers, wholesalers, distributors, as well as machinery builders and plating + coating companies, Claire has developed an in-depth knowledge of all things fasteners.
Alongside visiting numerous companies, exhibitions and conferences around the world, Claire has also interviewed high profile figures – focusing on key topics impacting the sector and making sure readers stay up to date with the latest developments within the industry.
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