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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 lower than previous year

Group profit in the year 2020 decreased by 23.2%, or CHF 32.1 million, to CHF 106.2 million (previous year: CHF 138.3 million) owing to the decline in operating profit (EBIT) and a slightly higher tax rate of 22.0% (previous year: 21.1%).

Overview of Forbo group profits 2019 - 2020.
Overview of the dividends per Forbo share 2019 - 2020.

Earnings per share

The undiluted earnings per share in the year 2020 reflect the lower earnings and have accordingly reduced by 22.9% to CHF 66.60 (previous year: CHF 86.33).

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 2020, both divisions concentrated their resources on key activities and strategic projects in the areas of product portfolio, technology, efficiency and optimization of operating processes, infrastructures, and targeted market and capacity expansion. Total Group investments in property, plant, and equipment and intangible assets in 2020 came to CHF 39.7 million, which was CHF 3.7 million, or 10.3%, higher than the previous year (CHF 36.0 million) despite the negative currency effects.

Flooring Systems invested CHF 20.5 million (previous year: CHF 22.8 million). This amount includes various upgrades and technological expansions of production plants, new product developments, and innovations in the areas of design, surface structure and surface coatings. State-of-the-art process control systems, automated equipment for specific production steps, and optimized and expanded plant infrastructures serve to improve efficiency. Significant amounts were invested in renewing the drying kilns for linoleum floor coverings, the building of a new research and development center for vinyl floor coverings, and in a new plant for reactive building and construction adhesives in Russia. The division continued to roll out digital platforms to support sales.

Investments in property, plant, and equipment at Movement Systems came to CHF 19.1 million (previous year: CHF 13.2 million), which marked a significant increase. The division invested larger-than-average amounts in the development and construction of a new product line for homogeneous belts, which involved erecting a new plant in a custom-built production site in Germany. It also invested in injection
molding machines for the production of new series of Prolink plastic modular belts in Denmark and in a custom-built plant including warehousing and logistics facilities, quality control, and administration. In addition to digital programs, upgrades, and technological expansion of production plant, the division also implemented infrastructure projects such as a new thermal oil plant, a new roller bearing system for 5-meter wide belts, and the development of assembly facilities in Colombia.

Overview of the investments of the Forbo Group 2019 - 2020.

Consolidated income statements 2016 - 2020

CHF million
NET SALES1,117.71,282.21,327.01,246.41,185.5
Cost of goods sold-707.5-788.6-824.9-764.5-715.2
GROSS PROFIT410.2493.6502.1481.9470.3
Development costs-15.2-16.0-16.6-15.5-15.1
Marketing and distribution costs-171.3-191.4-198.1-195.8-190.7
Administrative costs-86.4-92.8-96.1-94.7-95.0
Other operating expenses-15.2-26.2-23.5-106.5-16.7
Other operationg income14.99.17.510.54.4
OPERATING PROFIT137.0176.3175.379.9157.2
Financial income0.
Financial expenses-1.6-1.8-0.6-0.8-0.1
GROUP PROFIT BEFORE TAXES136.1175.3175.680.0159.1
Income taxes-29.9-37.0-38.0-43.5-31.5
GROUP PROFIT FOR THE YEAR106.2138.3137.638.7127.6

Financial overview Forbo Group 2020/2019

  • Financial overview Forbo Group 2020-2019

    Financial overview
    Forbo Group 2020/2019