SFS Group Ltd

Latest Results (18.02.2026):

SFS Group Ltd — Q4 2024 / full-year 2024 (year ended 31 December 2024): SFS reported full‑year net sales of CHF 3,031.1 million (2023: CHF 3,073.0m). Operating profit (EBIT) was CHF 350.2m (11.6% of sales) versus CHF 358.6m a year earlier. Net income for 2024 was CHF 242.7m (2023: CHF 268.5m), with basic/diluted EPS at CHF 6.21 (2023: CHF 6.84). The group generated strong operating cash flow (CHF 375.0m) and closed the year with CHF 224.6m in cash and an improved equity base (total equity CHF 1,559.2m, 59.7% of total assets).

Revenue

Full‑year net sales: CHF 3,031.1m, slight decline vs prior year (third‑party sales down ~1.7%). Regional mix: Germany largest market (CHF 897.3m), followed by Other Europe and Switzerland. By end market Automotive ~21%, Industrial manufacturing ~27%.

Profitability (EBIT / EBITDA)

EBIT of CHF 350.2m (11.6% margin) vs CHF 358.6m (11.7%) in 2023. EBITDA was CHF 479.8m (≈15.8% of net sales). Modest margin compression but overall operating profitability remained resilient.

Net income and EPS

Net income CHF 242.7m (attributable to SFS shareholders CHF 241.3m), down from CHF 268.5m. Basic/diluted EPS declined to CHF 6.21 from CHF 6.84, reflecting lower after‑tax profit and financial result headwinds.

Financial result and taxes

Financial result weakened to –CHF 26.7m (prior year –CHF 8.3m), driven by higher foreign‑exchange losses on financial investments and interest expense. Income tax expense CHF 83.6m (effective tax rate 25.6% vs 23.8% in 2023). Management expects no material Pillar Two top‑up taxes for 2024.

Cash flow and liquidity

Operating cash flow rose to CHF 375.0m (2023: CHF 313.4m). Net cash change small: cash ended at CHF 224.6m (227.5m). Investing cash flow was negative CHF 158.0m (capex and acquisitions); financing outflow CHF 223.3m including dividends CHF 97.2m.

Balance sheet and leverage

Total assets CHF 2,612.2m (up from 2,546.8m). Total equity increased to CHF 1,559.2m (59.7% of assets) from CHF 1,375.7m, strengthening the equity ratio. Net liabilities: current borrowings increased but non‑current borrowings fell materially (shift in maturity/profile); total liabilities decreased to CHF 1,053.0m.

Segments and operational trends

Segment net sales: Engineered Components CHF 1,124.9m, Fastening Systems CHF 488.5m, Distribution & Logistics CHF 1,437.1m. EBITDA contributions: Engineered Components and Distribution & Logistics largest contributors. Group continued investment in ERP (S/4HANA) and R&D (CHF 76.0m).

Capex and investments

Capital expenditures totaled CHF 148.9m (down from CHF 174.0m). Purchases of property, plant & equipment were CHF 141.3m; acquisitions and scope changes were modest (net acquisition cash outflow CHF 17.1m).