Wolfhausen, Switzerland -- The division of Swiss Holding Conzetta that includes foam systems and manufacturer FoamPartner generated sales of CHF 204.5m (EUR 187.8m) in 2015.
The division's 2015 sales were 7.1% lower than its previous year's sales of CHF 219.2m - of which 80% was FoamPartner revenue.
The results include Benien sales, an acoustic specialist in Delmenhorst, Germany purchased by FoamPartner in Q1 2014.
FoamPartner said Benien's earnings were consolidated for the entire 12 months of the reporting period.
"On a comparable basis, the decline in sales of 6.3% resulted," said Contezza, with FoamPartner's "operating profit totalling CHF 18.5m - compared to CHF 23.8m in 2014."
The division's EBIT margin was 9.1% in 2015 compared to 10.8% in 2014.
"In Switzerland and the generally stagnant European market, the further increased competitive pressure and the impact of currency movements (which the firm described as in turmoil) made disadvantageous," Contezza added.
"Lower sales in Europe were partially offset by sales increases in North America. The operating result restructuring costs of CHF 1.7m were recorded," the report said.
XE Currency conversion: 22 March, 2016