Key figures Forbo Group
Below you find some financial key figures for the Forbo Group.
Our responsibility towards our shareholders
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.
Significant increase in Group profit
Based on the higher operating profit (EBIT), a slightly higher tax rate of 22.1% (previous year: 22.0%) and a positive financial result of CHF 2.2 million (previous year: CHF – 0.9 million), due to exchange rate gains on foreign currencies, Group profit increased by 33.0% or CHF 35.0 million to CHF 141.2 million (previous year: CHF 106.2 million).
Earnings per share
The undiluted earnings per share reflect the higher earnings and the reduction in the number of shares outstanding. It rose by 37.6% to CHF 91.63 (previous year: CHF 66.60).
Earnings per share 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.
Value-adding investments
Our investments are wide-ranging, combining the demands of sustainability with efficiency gains in operating processes. In the reporting year, both business divisions invested in strategic projects in the areas of product portfolio, technology, infrastructure and specific market and capacity expansion projects. Total Group investments in property, plant, and equipment and intangible assets in 2021 were CHF 38.8 million (previous year: CHF 39.7 million).
In the reporting period, Flooring Systems invested CHF 23.4 million (previous year: CHF 20.5 million) at various manufacturing sites in new coating and cutting systems, modernized planning and control equipment, renewal of specific machinery and afterburners with new filter technology, allowing a significant reduction in CO2 emissions. More substantial investments were made in a next-generation digital printer for vinyl floor coverings in France, a new coating system combined with automated cutting for entrance flooring systems in the Netherlands, and a renewed powder plant and an expanded warehouse facility for construction adhesives in the Netherlands.
At Movement Systems, after above-average investments in property, plant and equipment in previous years, investments came to CHF 15.4 million (previous year: CHF 19.1 million). Most of the funds were committed to a further stage in the expansion of the production site for Prolink plastic modular belts in Denmark to increase the capacity of injection molding machines, and a newly installed heat recovery system. In India, a new plant with increased manufacturing capacity was built, and in the USA, Germany, and Russia local fabrication and service centers were opened. A new software tool was developed for global planning of production and processing, to optimize materials planning and minimize the number of cutting scrap.
Consolidated income statements 2017 - 2021
| 2021 | 2020 | 2019 | 2018 | 2017 | |
| CHF million | |||||
| NET SALES | 1,254.0 | 1,117.7 | 1,282.2 | 1,327.0 | 1,246.4 |
| Cost of goods sold | -803.0 | -707.5 | -788.6 | -824.9 | -764.5 |
| GROSS PROFIT | 451.0 | 410.2 | 493.6 | 502.1 | 481.9 |
| Development costs | -15.9 | -15.2 | -16.0 | -16.6 | -15.5 |
| Marketing and distribution costs | -175.3 | -171.3 | -191.4 | -198.1 | -195.8 |
| Administrative costs | -92.8 | -86.4 | -92.8 | -96.1 | -94.7 |
| Other operating expenses | -7.2 | -15.2 | -26.2 | -23.5 | -106.5 |
| Other operationg income | 19.2 | 14.9 | 9.1 | 7.5 | 10.5 |
| OPERATING PROFIT | 179.0 | 137.0 | 176.3 | 175.3 | 79.9 |
| Financial income | 3.0 | 0.7 | 0.8 | 0.9 | 0.9 |
| Financial expenses | -0.8 | -1.6 | -1.8 | -0.6 | -0.8 |
| GROUP PROFIT BEFORE TAXES | 181.2 | 136.1 | 175.3 | 175.6 | 80.0 |
| Income taxes | -40.0 | -29.9 | -37.0 | -38.0 | -43.5 |
| GROUP PROFIT FOR THE YEAR FROM CONTINUING OPERATIONS | 141.2 | 106.2 | 138.3 | 137.6 | 36.5 |
| GROUP PROFIT FOR THE YEAR FROM DISCONTINUED OPERATIONS AFTER TAXES | 0.0 | 0.0 | 0.0 | 0.0 | 2.2 |
| GROUP PROFIT FOR THE YEAR | 141.2 | 106.2 | 138.3 | 137.6 | 38.7 |
