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.
Group profit slightly higher year-on-year
The higher operating profit (EBIT) and a slightly lower tax rate of 21.1% (previous year: 21.7%) resulted, despite lower financial earnings mainly owing to IFRS 16, in a Group profit for the year 2019 of CHF 138.3 million (previous year: CHF 137.6 million), representing an increase of 0.5% or CHF 0.7 million.
Earnings per share
Undiluted earnings per share rose by 4.8% to CHF 86.33 (previous year: CHF 82.38), since fewer shares were in circulation in the year under review owing to the share buyback program the previous year.
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.
Efficiency-enhancing and sustainable investments
Forbo’s investments are wide-ranging, combining the demands of sustainability with efficiency gains in operational processes. In the reporting year, Forbo concentrated its resources in both divisions on key activities and strategic projects in the areas of product portfolio, technology, market expansion, and targeted capacity expansion. Total Group investments in property, plant, and equipment and intangible assets in 2019 came to CHF 36.0 million, which was CHF 2.7 million, or 7.0%, lower than the previous year (previous year: CHF 38.7 million).
Flooring Systems invested CHF 22.8 million in the reporting period (previous year: CHF 25.4 million). The investments included various cutting machine facilities for the manufacture of modular vinyl and textile flooring, expansion of the cross-dock warehouse for modular flooring in the Netherlands, new capacity for building and construction adhesives in Russia, refurbishment of the process control center for linoleum production, edge-cutting machines for vinyl flooring, tanks and silos for more efficient processing of incoming raw materials, new laboratory test stations, and upgraded and expanded digital printing technologies along with digital sales-support platforms.
Investments in property, plant, and equipment at Movement Systems were unchanged year-on-year at CHF 13.2 million. In the year under review, a plant that manufactures the substrate material for producing the belts of the Extremultus flat belt product line was refurbished completely and retrofitted with various accessories. For the Prolink plastic modular belt product line, various injection molding machines were outfitted with special devices that make it possible to develop and produce the new series being planned. The reel warehouse at the production plant in Germany was modernized so as to streamline the flow of goods. New service points and fabrication sites were established in various markets to strengthen regional customer care.
Consolidated income statements 2015 - 2019
| 2019 | 2018 | 2017 | 2016 | 2015 | |
| CHF million | |||||
| NET SALES | 1,282.2 | 1,327.0 | 1,246.4 | 1,185.5 | 1,139.1 |
| Cost of goods sold | -788.6 | -824.9 | -764.5 | -715.2 | -698.3 |
| GROSS PROFIT | 493.6 | 502.1 | 481.9 | 470.3 | 440.8 |
| Development costs | -16.0 | -16.6 | -15.5 | -15.1 | -15.1 |
| Marketing and distribution costs | -191.4 | -198.1 | -195.8 | -190.7 | -181.1 |
| Administrative costs | -92.8 | -96.1 | -94.7 | -95.0 | -89.8 |
| Other operating expenses | -26.2 | -23.5 | -106.5 | -16.7 | -16.6 |
| Other operationg income | 9.1 | 7.5 | 10.5 | 4.4 | 4.6 |
| OPERATING PROFIT | 176.3 | 175.3 | 79.9 | 157.2 | 142.8 |
| Financial income | 0.8 | 0.9 | 0.9 | 2.0 | 2.0 |
| Financial expenses | -1.8 | -0.6 | -0.8 | -0.1 | -0.4 |
| GROUP PROFIT BEFORE TAXES | 175.3 | 175.6 | 80.0 | 159.1 | 144.4 |
| Income taxes | -37.0 | -38.0 | -43.5 | -31.5 | -28.7 |
| GROUP PROFIT FOR THE YEAR FROM CONTINUING OPERATIONS | 138.3 | 137.6 | 36.5 | 127.6 | 115.7 |
| GROUP PROFIT FOR THE YEAR FROM DISCONTINUED OPERATIONS AFTER TAXES | 0.0 | 0.0 | 2.2 | 0.0 | 0.0 |
| GROUP PROFIT FOR THE YEAR | 138.3 | 137.6 | 38.7 | 127.6 | 115.7 |
