The Board of Directors of Forbo Holding Ltd has decided to continue with the current share buyback program 2017–2020 via a second trading line and thus buy back a maximum of 116,895 registered shares (6.49% of the share capital).
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Forbo shareholders approve all proposals from the Board of Directors
The shareholders of Forbo Holding Ltd approved all proposals submitted by the Board of Directors to the 90th Ordinary General Meeting in Zug by a clear majority. A dividend of CHF 19 per share will be paid out as of April 13, 2018.
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Strong rise in sales amid mixed market conditions – Operating profit before one-off costs once more increased – Group profit strongly impacted by one-off costs – Significantly higher investments – Balance sheet remains robust – Dividend of CHF 19 per share
In 2017, Forbo raised sales significantly despite mixed market conditions, generating net sales of CHF 1,246.4 million (previous year: CHF 1,185.5 million) which represents an increase of 5.1%, or 4.3% in local currencies, due to slightly positive currency effects. Group operating profit (EBIT) – before one-off costs in connection with the antitrust proceedings against Flooring Systems in France – rose by 3.9% to CHF 163.3 million (previous year: CHF 157.2 million). Factoring in one-off costs, EBIT came to CHF 79.9 million. Group profit from continuing operations before one-off costs declined due to special tax effects by CHF 7.8 million to CHF 119.8 million (previous year: CHF 127.6 million).
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