Industry News

SFS Group achieved its defined growth targets despite a difficult economic environment in the financial year 2023. Third-party sales of CHF 3.090 billion (€3.217 billion) were generated – a strong increase of 12.6% against the prior year period that was underpinned by robust organic growth of 2.1%. Consolidation effects stemming from the inclusion of Hoffmann as 1^st May 2022, accounted for 14.6% of the sales growth.

Geopolitical and macroeconomic developments had a major impact on SFS Group’s activities in 2023. Key leading economic indicators deteriorated considerably over the course of the year. Many customers reduced their inventories as a result of the normalisation of supply chains, after Covid-19 related disruptions, aggravating the situation further.

Sales by segment

The Engineered Components segment deftly used the seasonal ‘ramp up’ of components for use in mobile devices in the second half of 2023 to boost the results of the first half year. Demand in the segment’s other end markets remained unchanged overall during the course of the year, whereat Automotive and Medical saw very dynamic organic growth. The segment generated sales of CHF 987.7 million (2022:
CHF 1.028 billion).

The Fastening Systems segment achieved a solid result in a weakened market environment with partially high-levels of inventory along the entire value chain – generating sales of CHF 615.3 million (2022: CHF 644.9 million).

After a strong first half of the year, the Distribution & Logistics segment experienced deteriorating market demand during the course of the year. This resulted in a decline in order intake, which was partially offset by the high order backlog. The segment generated sales of CHF 1.487 billion (2022: CHF 1.073 billion). Consolidation effects stemming from the inclusion of Hoffmann accounted for CHF 400.6 million of sales.