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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.

Key figures Forbo Group

Below you find some financial key figures for the Forbo Group.

Group profit impacted by one-off effects

Group profit from continuing operations before one-off costs declined by CHF 7.8 million to CHF 119.8 million (previous year: CHF 127.6 million) owing in particular to higher taxes. The higher tax charge was predominantly due to the sale of Forbo treasury shares. The sale produced a profit of a high double-digit million amount, which was not recognized in the income statement but rather credited directly to shareholders’ equity. The federal tax on capital gains, however, was booked in the income statement. Additionally, financial income in fiscal 2017 was CHF 1.8 million lower than the previous year owing to foreign currency effects.

Factoring in one-off costs, Group profit from continuing operations came to CHF 36.5 million (previous year: CHF 127.6 million), while Group profit stood at CHF 38.7 million (previous year: CHF 127.6 million).

Overview of Forbo group profits 2016 - 2017.
Overview of the dividends per Forbo share 2016 - 2017.

Earnings per share

Undiluted earnings per share from continuing operations before one-off costs decreased by 7.1% to CHF 69.34 (previous year: CHF 74.66). Factoring in the one-off costs, undiluted earnings per share from continuing operations came to CHF 21.10.

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.

Significant increase in capital expenditure

In addition to increasing efficiency and steadily streamlining processes, our focus is on factors that will promote future growth. Capital expenditure in the year under review was significantly higher than in the previous year, mainly due to the construction of a new Movement Systems plant in Pinghu, China. Total Group investments in property, plant, and equipment and intangible assets in 2017 rose significantly by 44.5% year-on-year to CHF 57.8 million (previous year: CHF 40.0 million).

In the reporting period, Flooring Systems invested CHF 22.3 million (previous year: CHF 20.5 million), which represents a 8.8% increase. This sum includes in particular a portion for the recently installed digital printing facility for high-end Flotex designs in 3-D quality in France as well as a new 3-D digital printing line for modular Flotex floor coverings in the USA. The additional cutting facility for luxury vinyl tiles in the Netherlands is supporting the double-digit growth of this product line. In the UK, production capacity for manufacturing carrier layers from recycled material for carpet tiles was expanded. Part of the funds were also used for the extension of the product offering with innovative new collections.

At Movement Systems, investment in property, plant, and equipment came to CHF 35.5 million, more than double the prior-year figure (previous year: CHF 16.5 million). The main reason for the increase was the construction of a new plant in Pinghu, China, which will provide additional capacity for Transilon processing belts. Funds were also used for various additional fabrication tools, in particular cutting machines, heat presses, cooling stations, punch presses using waterjet technology, bending machines, and laser measurement systems. Part of the expenditure was invested in innovative range extensions for specific applications.

Overview of the investments of the Forbo Group 2016 - 2017.

Consolidated income statements 2013 - 2017

20172016201520142013
CHF million
NET SALES1,246.41,185.51,139.11,226.81,199.7
Cost of goods sold-764.5-715.2-698.3-765.8-747.3
GROSS PROFIT481.9470.3440.8461.0452.4
Development costs-15.5-15.1-15.1-16.5-16.4
Marketing and distribution costs-195.8-190.7-181.1-196.6-197.1
Administrative costs-94.7-95.0-89.8-94.2-90.7
Other operating expenses-106.5-16.7-16.6-13.2-19.3
Other operationg income10.54.44.68.96.8
OPERATING PROFIT79.9157.2142.8149.4135.7
Financial income0.92.02.05.910.9
Financial expenses-0.8-0.1-0.4-1.0-5.7
GROUP PROFIT BEFORE TAXES80.0159.1144.4154.3140.9
Income taxes-43.5-31.5-28.7-30.9-30.7
GROUP PROFIT FOR THE YEAR
FROM CONTINUING OPERATIONS
36.5127.6115.7123.4110.2
GROUP PROFIT FOR THE YEAR
FROM DISCONTINUED OPERATIONS AFTER TAXES
2.20.00.00.27.4
GROUP PROFIT FOR THE YEAR38.7127.6115.7123.6117.6

Financial overview Forbo Group 2017/2016

  •  Financial overview Forbo Group 2018

    Financial overview
    Forbo Group 2017/2016