SFS expects solid half year results despite COVID-19 pandemic
News – 3 July 2020
After a solid first quarter, business is, as expected, negatively affected in the second quarter by the economic repercussions of the COVID-19 pandemic. Focus is placed on protecting employee health, maintaining business continuity and implementing extensive measures to protect profitability. Innovation-driven projects continued as before.
Thanks to organic growth at two divisions and a well-balanced positioning, the decline against prior year sales of CHF 867.8 million is limited to approximately –11%. The negative currency effect offsets the positive acquisition effect.
Despite the contraction in sales, SFS expects the EBIT margin for the first half year to be at around 9% (prior-year period, adjusted: 12.6%) and the EBITDA margin at approximately 15% (prior-year period: 17.6%).
Detailed financial figures for the first half of 2020 and a revised guidance for the full financial year 2020 will be released on 21 July 2020.