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Net sales and volume growth impacted by difficult market environment – continued negative currency effects on net sales and earnings – double-digit EBIT margins maintained – equity ratio further improved

The Forbo Group – a leading manufacturer of floor coverings, building and construction adhesives, as well as belts for power transmission and conveyor belt solutions – reported net sales of CHF 570.3 million in the first half of 2024 (prior-year period: CHF 615.2 million), representing a decrease of 3.7% in local currencies (–7.3% in the corporate currency). Operating profit (EBIT) declined by 17.8% to CHF 61.8 million (prior-year period: CHF 75.2 million) with an EBIT margin of 10.8% (prior-year period: 12.2%). Group profit stood at CHF 48.4 million (prior-year period: CHF 57.4 million).

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Forbo shareholders approve all proposals of the Board of Directors

At today’s 96th Ordinary General Meeting of Forbo Holding Ltd in Zug, the shareholders approved all of the Board of Directors' proposals by a large majority. The dividend of CHF 25 per share will be paid out as of April 12, 2024.

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Slight decline in net sales in local currencies – operating profit impacted by lower demand and adverse currency effects – double-digit EBIT margin – Group profit slightly higher than previous year – significantly increased free cash flow – dividend CHF 25 per share

The Forbo Group, a leading producer of floor coverings, building and construction adhesives, as well as belts for power transmission and lightweight conveyor technology, generated net sales of CHF 1,175.2 million in the 2023 business year. In local currencies, this represents a decline of 2.9% and corresponds to a decrease of 9.1% in the corporate currency, due to strongly adverse currency effects. Operating profit (EBIT) decreased by 2.0% to CHF 129.9 million (previous year: CHF 132.6 million). Group profit was at CHF 102.3 million, 0.9% higher than the previous year (CHF 101.4 million). Free cash flow more than doubled to CHF 115.9 million (previous year: CHF 50.5 million).

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