SFS completes transaction with Hoffmann

Ad hoc announcement pursuant to Art. 53 LR – May 12, 2022

The transaction between the SFS Group and Hoffmann SE that was announced on December 22, 2021 was completed on May 11, 2022, meaning that Hoffmann has now been officially incorporated into the SFS organization. This joining of forces marks a milestone and the companies’ complementary positioning opens up attractive development opportunities for both.

With all the formal conditions having been met, the transaction between SFS and Hoffmann was completed yesterday. One of the key legal requirements that had to be met in order to complete the transaction was the approval of the competition authorities in five different countries – this has now been granted.

Inclusion of Hoffmann at all levels
In organizational terms, Hoffmann will operate as the independent division «D&L International» within the Distribution & Logistics segment. Hoffmann’s inclusion at various levels of the SFS organization will create continuity and lay the foundation for the Group’s successful future development: Thus Hoffmann’s CEO, Martin Reichenecker, will now join the Group Executive Board of SFS. In addition, Dr. Peter Bauschatz, Chairman of the Supervisory Board of Hoffmann SE, will now join the Board of Directors of SFS.

SFS Organigram_mit D&L International
SFS Group structure

A part of the purchase price was paid in the form of 1,400,000 new shares and 200,000 existing shares, making the former owners of Hoffmann significant shareholders of SFS. The share capital of SFS Group AG now amounts to CHF 3,890,000 and is divided into 38,900,000 registered shares with a nominal value of CHF 0.10 each.

Updated outlook for the financial year 2022
SFS expects sales growth to remain unchanged at 3–6% before the consolidation of Hoffmann, even though uncertainty has increased in the course of the financial year. In addition, a sales effect of CHF 720–770 million is expected for the remainder of the financial year as a result of the consolidation of Hoffmann (eight months of consolidation in 2022).

SFS still expects an EBIT margin of 13–16% for the financial year 2022 (standalone). Now that the transaction has been completed, the integration and consolidation of Hoffmann will begin. The EBIT guidance will be updated when the half-year results are published on August 26, 2022.

Investor conference in Nuremberg
An investor day is planned for June 14, 2022 in LogisticCity at Hoffmann in Nuremberg (Germany), with the management of Hoffmann being present. Those attending the conference will gain a detailed insight into the business model, the products and applications, as well as obtaining further information about the transaction and the Group’s future development. There will also be an opportunity to have a tour of LogisticCity, Europe’s largest tool logistics center.