SFS Group Ltd

Latest Results (03.04.2026):

SFS Group Ltd — reporting on Q4 2024 (full-year results for the year ended 31 December 2024). The group delivered stable operating performance in FY2024 with net sales of CHF 3,031.1m (vs CHF 3,073.0m in 2023), EBIT of CHF 350.2m (11.6% margin; 2023: CHF 358.6m, 11.7%), and net income of CHF 242.7m (EPS CHF 6.21 vs CHF 6.84). Cash generated from operations remained strong (CHF 375.0m) and equity rose to CHF 1,559.2m (equity ratio 59.7%), while borrowings increased (current CHF 276.0m; non‑current CHF 283.6m). The company paid dividends (CHF 97.2m) and continued investment and R&D spending.

Top-line and profitability

Net sales: CHF 3,031.1m (FY2023: CHF 3,073.0m). Third‑party sales were down 1.7% year-on-year; like‑for‑like sales roughly flat excluding FX. EBIT: CHF 350.2m (FY2023: CHF 358.6m), EBIT margin essentially stable at 11.6% (2023: 11.7%). EBITDA: CHF 479.8m (2023: CHF 486.0m).

Net income and EPS

Net income declined to CHF 242.7m from CHF 268.5m in 2023. Earnings per share fell to CHF 6.21 (2023: CHF 6.84), reflecting the lower net profit and some financial result effects.

Segment performance

Engineered Components: net sales CHF 1,124.9m, EBIT CHF 155.2m (13.8% margin). Fastening Systems: net sales CHF 488.5m, EBIT CHF 68.8m (14.1%). Distribution & Logistics: net sales CHF 1,437.1m, EBIT CHF 128.7m (9.0%). Segment mix and reorganization (divisional changes effective 1 Jan 2024) were applied; prior-year figures were restated for comparability.

Cash flow, capex and investment

Operating cash flow: CHF 375.0m. Investing cash flow: CHF –158.0m (incl. CHF 141.3m PPE additions and CHF 7.6m intangibles); capex by segment totaled CHF 148.9m. Free cash generation supported financing and dividend payments; year-end cash CHF 224.6m.

Balance sheet and leverage

Total assets CHF 2,612.2m; total equity CHF 1,559.2m (59.7% of assets). Borrowings: current CHF 276.0m and non-current CHF 283.6m (total ~CHF 559.6m). Net working capital was CHF 737.3m (slightly up vs 720.9 in 2023). Inventories and receivables remained broadly stable.

Financial result, tax and regulatory items

Financial result was negative at CHF –26.7m (2023: –8.3m), partly due to FX and financial expenses. Income tax expense CHF 83.6m (effective tax rate 25.6% vs 23.8% in 2023). The group assessed Pillar Two implications and currently expects to meet Transitional CbCR Safe Harbour tests for 2024 with no material top‑up taxes anticipated.

Capital allocation and other items

Dividends: CHF 97.2m paid (same as prior year). Share-based awards and employee share programs continued (personnel expense impact CHF 1.7m). R&D and development-related costs remain significant (total R&D-related expense CHF 76.0m in 2024). Goodwill/theoretical adjustments show a reduction (reflecting derecognition and currency effects) versus 2023.