Baar, Switzerland – Forbo Group, a manufacturer of floor coverings and construction adhesives including polyurethane, reported sales of CHF 1.13bn (EUR 1.03bn).
The company’s report said that owing to the “very negative” currency exchange effects, the figure represented a decline of 7.1% on 2014 revenue. Group earnings before interest and tax (EBIT) declined by 4.4% to CHF 142.8m on 2014 the figure.
The currency translation effect "shaved CHF 100m off sales and about CHF 18m off EBIT," said the firm.
The report said Forbo “had to deal with major challenges” and its flooring systems division “could not match the previous year's results even on a currency-adjusted basis, despite increased marketing activities and new offerings in the product portfolio.”
Flooring systems division sales – which accounts for almost 70% of the firm’s total sales – were CHF 791.3m, 10.5% less than 2014.
Despite the revenue dip, the division did report “encouraging growth figures in various customer segments, especially for shop fittings, hotels, and catering and leisure services as well as in the manufacturing industry,” the report said.
Operating profit margins were reported as “slightly higher”, the firm said and despite an (EBITDA) decrease of 5.6% to CHF 174.8m,.
The firm did also say that currency-adjusted EBITDA and EBIT “showed a slight increase compared with the previous year.”