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Please find below all Forbo media releases listed by year.
Eglisau, March 9, 2000
The Board of Directors yesterday approved the 1999 financial statements of the Forbo group and holding company.
As already announced, the consolidated gross sales amount to CHF 1 874.4 million, a 2.3% increase over the previous year.
Group profit rose by 12.3% to CHF 86.1 million on a comparable basis to the previous year. After deduction of special provisions of CHF 70 million (after tax) made for the strategic renewal, the resulting group profit amounts to CHF 16.1 million.
Group cash flow is CHF 191.6 million, CHF 13.6 million or 7.6% more than in the previous year. This improvement and restrictive investment activity resulted in a free cash flow after capital cost of CHF 35.3 million. This is an increase by CHF 55.3 million. As a result, the net debt could be reduced by CHF 39.6 million to CHF 205.1 million compared with end 1998.
The annual profit of Forbo Holding AG is CHF 33 534 752 (1998: CHF 33 036 251). Based on these results, the Board of Directors proposes the distribution of an unchanged dividend of CHF 22.- per registered share. The resulting dividend charge is CHF 32 415 152 related to the same number of shares as in the previous year.
Editors please note:
Press conference to announce annual results: 27 March 2000
Financial analysts' meeting: 27 March 2000