Building products» More news on Building products

Forbo: turnover of flooring systems declined by 4.7%

23.03.2020 − 

In 2019 turnover generated in the flooring systems business division of Forbo Holding declined by 4.7% to CHF870.5m. Adjusted to account for currency fluctuations, a decrease of 1.5% was recorded. Flooring systems includes Forbo’s activities in the areas of vinyl, linoleum and textile flooring as well as constructional adhesives. Whilst business with constructional adhesives developed along positive lines, flooring business generally slackened off. In Europe turnover of flooring systems declined by 4.2% to CHF664.7m. In the other two regions, Americas at CHF131.4m and Asia/Pacific and Africa at CHF74.4m, declines were also recorded. The EBIT decreased slightly to CHF135.8m, the EBIT margin, however, increased to 15.6%.

In the movement systems business division, in which activities with power transmission and conveyor belt solutions are consolidated, turnover decreased by 0.5% to CHF411.7m. Adjusted to account for currency fluctuations, turnover was 0.6% above the previous year’s figure. The segment EBIT improved to CHF49.8m and the EBIT margin to 12.1%.

At group level turnover of CHF1.282bn was generated, which represents a decline of 3.4%, and of -0.8% adjusted to account for currency fluctuations. EBIT and group profit, at CHF176.3m and CHF138.3m respectively, slightly surpassed the preceding year’s figure. Forbo attributes the improved profits situation to investments in more efficient technology and lower purchasing costs. In total, Forbo invested CHF26m last year, CHF23m of which went into flooring systems and CHF13m into movement systems.

Tags of this news:

previous − Mohawk retracts its forecast for first quarter of 2020

Mannington Mills invests US$22m in LVT production  − next