Forbo shareholders approve all proposals of the Board of Directors
The shareholders of Forbo Holding Ltd approved all the proposals submitted by the Board of Directors to the 88th Ordinary General Meeting in Zug by a large majority. Payment of the tax-exempt dividend of CHF 17 per share from the capital contribution reserve will take place as of May 6, 2016.
Sales in local currencies slightly higher – Currency-adjusted earnings slightly higher year-on-year – Operating profit margins up – Currency-adjusted Group profit just above previous year – Earnings per share increased once again – Increase in tax-free cash distribution to CHF 17 per share
The strong Swiss franc provided a major challenge for Forbo in the 2015 business year. In the year under review, the Forbo Group reported net sales of CHF 1,139.1 million (previous year: CHF 1,226.8 million), a gain of 1.1% in local currencies. Owing to the very negative currency effects, this is equivalent to a decline of 7.1% in the corporate currency. Group operating profit (EBIT) declined by 4.4% to CHF 142.8 million (previous year: CHF 149.4 million), and Group profit from continuing operations was down by 6.2% to CHF 115.7 million (previous year: CHF 123.4 million). Currency-adjusted, both EBIT and Group profit showed a slight increase compared with the previous year. Earnings per share rose by 0.4% to CHF 62.14 (previous year: CHF 61.92).
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