We see it as our responsibility to safeguard the interests of our shareholders by being transparent and issuing regular reports on the activities of our business.
Owing to the strong Swiss franc and to financial income, which was lower than in previous years, Group profit from continuing operations declined by 6.2% to CHF 115.7 million (previous year: CHF 123.4 million). After adjustment for currency effects, however, Group profit was slightly higher than the previous year.
Owing to the share buybacks, earnings per share increased slightly compared to the previous year despite the decline in profit caused by currency fluctuations. Earnings per share from continuing operations (undiluted) rose by 0.4% to CHF 62.14 (previous year: CHF 61.92).
These are calculated by dividing the net profit or loss for the year attributable to registered shareholders by the weighted average number of registered shares issued and outstanding during the year, less the average number of treasury shares.
Although the demanding conditions pose a challenge to our organization in all areas, we remain focused on the factors that will drive our future growth as well as on efficiency gains, continuous optimization of processes, and cost-saving measures. In the reporting year, we concentrated our resources on key activities and strategic projects in the areas of product portfolio, technology, production capacity, and market expansion. Total investments in fixed assets in 2015, as in the previous year, came to CHF 39.5 million; in local currency terms, however, this was well above the prior-year level.
In the reporting period, Flooring Systems invested CHF 30.5 million (previous year: CHF 29.9 million). This amount includes in particular the construction of a factory for the manufacture of homogeneous vinyl floor coverings, the building of an additional packaging line for the production of luxury vinyl tiles in the Netherlands, as well as expanded warehouse capacity in Sweden for the Scandinavian market and for modular linoleum production in Scotland.
At Movement Systems, investments in fixed assets came to CHF 8.9 million (previous year: CHF 9.4 million), which in local currencies was higher than the previous year. The funds were spent mainly on extending the product portfolio for specific applications in complex and demanding facilities, for various additional service tools, and for fabrication and production plants and expansion in growth markets.
|Cost of goods sold||-698.3||-765.8||-747.3||-761.2||-745.1|
|Marketing and distribution costs||-181.1||-196.6||-197.1||-194.0||-192.5|
|Other operating expenses||-16.6||-13.2||-19.3||-25.3||-17.8|
|Other operationg income||4.6||8.9||6.8||63.8||13.1|
|GROUP PROFIT BEFORE TAXES||144.4||154.3||140.9||166.0||167.3|
|GROUP PROFIT FOR THE YEARFROM CONTINUING OPERATIONS||115.7||123.4||110.2||130.1||137.4|
|GROUP PROFIT FOR THE YEARFROM DISCONTINUED OPERATIONS AFTER TAXES||0.0||0.2||7.4||83.2||9.1|
|GROUP PROFIT FOR THE YEAR||115.7||123.6||117.6||213.3||146.5|