SFS Group Ltd

Latest Results (15.05.2026):

SFS Group Ltd — reporting for Q4 2024 and the full year ended 31 December 2024: Full‑year net sales were slightly down versus 2023 while operating profitability held steady; EBIT was CHF 350.2m (vs CHF 358.6m), net income fell to CHF 242.7m (vs CHF 268.5m) and basic EPS declined to CHF 6.21 (vs CHF 6.84). The group generated strong operating cash flow (CHF 375.0m), materially reduced overall borrowings, and increased equity to CHF 1,559.2m despite negative financial result driven by FX/financial investment losses.

Sales

Net sales (FY 2024) were CHF 3,031.1m versus CHF 3,073.0m in 2023 (≈ –1.4%); third‑party sales were CHF 3,039.0m (–1.7%). By segment (third‑party): Engineered Components CHF 1,115.4m (up), Fastening Systems CHF 480.6m (down), Distribution & Logistics CHF 1,443.0m (down).

Profitability

EBIT was CHF 350.2m (11.6% margin) versus CHF 358.6m (11.7%) in 2023 — a small decline. EBITDA was CHF 479.8m (vs CHF 486.0m). The Engineered Components segment showed the biggest EBIT improvement; Fastening and Distribution saw lower EBIT.

Net income and EPS

Net income fell to CHF 242.7m from CHF 268.5m (≈ –9.6%). Basic and diluted EPS decreased to CHF 6.21 from CHF 6.84 (≈ –9.2%).

Financial result and taxes

Financial result worsened to –CHF 26.7m (prior year –CHF 8.3m), reflecting interest and foreign exchange/financial investment losses. Effective tax rate rose to 25.6% (2023: 23.8%). Management expects no material Pillar Two top‑up tax for 2024 based on current assessments.

Cash flow, capex and liquidity

Cash flow from operating activities improved to CHF 375.0m (2023: CHF 313.4m). Cash flow from investing was –CHF 158.0m (incl. CHF 141.3m purchases of PPE). Cash and cash equivalents were broadly stable at CHF 224.6m (227.5m). Capital expenditures (group) were CHF 148.9m (down from CHF 174.0m).

Balance sheet and leverage

Total borrowings at year‑end were CHF 559.6m (current CHF 276.0m, non‑current CHF 283.6m) versus CHF 672.8m a year earlier — overall borrowing reduced. Liabilities decreased to CHF 1,053.0m (from CHF 1,171.1m) and total equity rose to CHF 1,559.2m (from CHF 1,375.7m), supported by retained earnings.

Working capital and inventory

Net working capital increased slightly to CHF 737.3m (from CHF 720.9m). Inventories were essentially stable at CHF 552.4m (550.9m), and trade receivables rose modestly to CHF 468.4m (458.5m).

Shareholder returns and capital actions

Dividend paid for 2023 was CHF 97.2m (same as prior year). Treasury share purchases amounted to CHF 4.0m (2023: CHF 1.6m).

Operational context

SFS continues to invest in production and digital transformation (ERP/SAP S/4HANA project ongoing with capitalized own work). R&D and development-related costs remain significant (CHF 76.0m reported as expenses in 2024).