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Please find below all Forbo media releases listed by year.
Eglisau / Zurich, April 29, 2005
In the first quarter of 2005, the Forbo business suffered considerably from the effects of the auctioning process which began early November 2004 and was concluded only on April 6, 2005. Sales in Swiss Franc realized in this quarter decreased by 3 % compared with the previous year, with 2 % being due to weaker exchange rates than in 2004.
The uncertainties among customers and employees created by the auctioning process that lasted for months, and the heavy workload it created for the management team have impaired the Forbo business in the first quarter. Sales of the Forbo Group in Swiss Franc terms decreased by 3 % compared with the previous year. The flooring and belting business suffered particularly with a decrease of 5 % and 4 %, respectively. Adhesives sales were stagnating.
Although steps have been taken immediately to compensate for the sales decline and to lower the costs, the auctioning process will impact the 2005 ordinary result.
Forbo will inform on the earnings situation in the context of the financial statements for the half-year 2005.
Forbo is a leading producer of floor coverings, adhesives and beltings. The company employs some 5,500 people and has international network of production companies and sales organizations in 31 countries. Forbo’s Head office is in Eglisau / Switzerland. Net sales in 2004 were CHF 1,622.3 million. The holding company - Forbo Holding AG - is listed at the SWX Swiss Exchange (security number 354151, ISIN CH0003541510, Bloomberg FORN SW, Reuters FORN.S). Further information can be found at www.forbo.com.
Head of Corporate Communications
Tel: + 41 1 868 25 69
Fax: + 41 1 868 35 69