Forbo Announces 3.4% Annual Growth for Flooring Business
Baar, Switzerland, March 20, 2017—Forbo announced 3.4% annual growth for its Flooring Systems division in FY 2016 or net sales of CHF 818.0 million, compared to CHF 791.3 million in FY 2015.
The company attributes this growth to its product range, with new collections especially for customers in the private sector.
The flooring division's share of group sales was 69%. The upturn in the U.S. and France, which are major core markets for Flooring Systems, along with signs of a recovery in the Netherlands, were the key factors in this vigorous trend.
Operating profit (EBIT) for Flooring Systems rose by 11.7% to CHF 122.7 million (previous year: CHF 109.8 million) owing to higher sales, optimization along the global value chain, and the positive effects of raw material price developments. The EBIT margin rose by 1.1 percentage points to 15.0% (previous year: 13.9%).