Steelcase turnover declines in third quarter 2017

31.01.2018 − 

Following three consecutive increases in turnover, total turnover of US-American Steelcase declined again by 2% to US$772.1m in the third quarter of the 2017/2018 financial year. In the first and second quarters turnover increased by 2.3% in each case, and in the fourth quarter of 2016/2017 turnover rose by 2.8% compared to the corresponding month in the preceding year, respectively.

While turnover in the Americas region decreased by 4.1% to US$552.8m in the third quarter, turnover increased in the regions of Europe, the Middle East and Africa by 4.1% to US$141.1m compared to the corresponding month in the preceding year, respectively. Adjusted to account for currency effects and divestments, however, a decline also had to be recorded for the EMEA activities. In the other division, in which activities in Asia-Pacific as well as the Designtex and PolyVision brands are consolidated, turnover increased by 5.2% to US$78.2m. A 6% decline in incoming orders in the Americas region contrasted with a 4% rise in incoming orders in EMEA in the third quarter. In the other segment, incoming orders increased slightly.

Accumulated over the first nine months of the current financial year, Steelcase’s total turnover increased slightly by 0.9% to US$2.283bn compared to the corresponding period in the preceding year. Operating profit decreased by 18.2% to US$122.6m.

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