Double-digit sales growth in local currencies in all regions – negative currency effects on sales and earnings – results also hit by significant rise in cost of raw materials - Seite 4

The building and construction adhesives activity reported good overall sales growth in an increasingly challenging market environment.

Operating profit (EBIT) decreased by 5.8% to CHF 58.2 million (prior-year period: CHF 61.8 million). This reduction is due to the substantial increases in the cost of raw materials and transport, along with higher energy and personnel costs. Due to the high proportion of project business, sales price adjustments could be implemented only with a certain time lag, meaning that the additional costs were not offset in full. Negative currency effects also reduced profit when translated into the corporate currency. The EBIT margin decreased accordingly to 12.8% (prior-year period: 14.6%). Following the successful launch of the new “TopshieldPro” linoleum coating, the second half-year will see a focus on attractive new collections of vinyl and textile floor coverings, which will be accompanied by a global sustainability initiative. At the same time, it will be necessary to address the respective market environments by applying strict cost management and adopting a flexible approach.    

The Forbo Movement Systems division reported net sales of CHF 211.1 million in the first half of 2022 (prior-year period: CHF 200.0 million). All regions reported pleasing sales growth in local currencies: in Europe this was in the double-digit range, in the Americas somewhat more moderate and in Asia/Pacific well above the level of the previous year. In Europe, Germany, Switzerland, Denmark, France, Italy and Spain recorded double-digit growth. Pleasing progress was also made in Sweden and the Netherlands. In the Americas, the main market USA saw a moderate growth in sales in the face of various market challenges, as did Canada. Mexico, with a strong customer base in the food segment, showed pleasing growth, as did Columbia, a growth market. Asia/Pacific showed a mixed trend. Growth drivers were Japan, India, Southeast Asia and Turkey. Sales in core markets such as China and Australia declined slightly below those of the previous year.