Media release on the 2020 half-year report
The Forbo Group – a leading manufacturer of floor coverings, building and construction adhesives, as well as power transmission and conveyor belt solutions – reported net sales of CHF 542.3 million in the first half of 2020 (prior-year period: CHF 649.4 million). This equates to a decline of 11.4% in local currencies (-16.5% in the corporate currency), which was attributable to the COVID-19 pandemic and its impact on the economy. Operating profit (EBIT) came to CHF 41.1 million, 46.8% lower than the previous year (prior-year period: CHF 77.3 million). The EBIT margin declined to 7.6% (prior-year period: 11.9%). Group profit amounted to CHF 31.7 million, 48.2% lower than the previous year (prior-year period: CHF 61.2 million).