SFS reports good sales dynamics 18 November 2020

Based on the most current information available, SFS expects its operating results for the second half of the year to be significantly better than previously projected. The course of business thereafter remains subject to considerable uncertainty due to the Covid-19 pandemic.

After experiencing a sharp drop in demand in the first half of the year due to Covid-19, business activity in various markets has displayed a sustained positive trend since the summer months. SFS is benefiting here from its balanced exposure in terms of end markets and regions. Automotive-related business areas that had been heavily impacted during the first half have shown a particularly strong recovery. In the electronics industry, SFS profited from successful product ramp-ups at key customers. The situation in the aviation industry remains challenging, however.

The significant improvement in demand has improved production capacity utilisation, which has had a positive effect on the company's operating results. Based on the latest available data, SFS expects sales for the 2020 financial year to range between CHF 1.63 billion to CHF 1.68 billion (€1.5 billion to €1.55 billion). Operating profit (EBIT) for the full year is forecast to range between CHF 180 million and CHF 200 million. Sales and operating profit for the 2020 financial year are thus expected to be lower compared to the previous financial year, but better than initially projected during the release of half-year results. Due to the Covid-19 pandemic, the course of business beyond the current financial year remains subject to considerable uncertainty.

Editor

Will Lowry Editor t: +44 (0) 1727 814 509

Biog

Will joined Fastener + Fixing Magazine in 2007 and over the last 12 years has experienced every facet of the fastener sector - interviewing key figures within the industry and visiting leading companies and exhibitions around the globe.

Will manages the content strategy across all platforms and is the guardian for the high editorial standards that the Magazine is renowned.