Georg Fischer raises the bar
Georg Fischer (GF) has maintained sales and operating profit in 2023 at the previous year's level. With the acquisition of Uponor, the industrial corporation has laid the foundation for future profitable growth. GF is therefore raising its targets for 2025.
Georg Fischer maintained its sales in the 2023 financial year at the previous year’s level of CHF 4.0 billion, the globally active industrial corporation from Schaffhausen announced in a press release. At CHF 389 million, the comparable operating result at EBIT level was also close to the previous year’s figure. At 235 million francs, the Group result was 41 million francs lower than in 2022. The dividend is to be maintained at the previous year’s level of CHF 1.30 per share.
“GF achieved a strong performance in a year characterised by numerous challenges, but also opportunities and the acquisition of Uponor as an outstanding milestone,” GF CEO Andreas Müller is quoted as saying in the press release. “All GF divisions have created the basis for achieving their strategic goals, focussing on operational excellence and driving the company forward on its path to becoming a sustainability and innovation leader.”
Uponor, which was acquired in the reporting year, contributed to sales and operating profit from the time of full consolidation at the beginning of November. With the acquisition of the Finnish specialist for piping systems, GF believes it has set the course for future growth. The Corporation is therefore raising the targets set out in its Strategy 2025. The sales target has been raised from CHF 4.4 to 5.0 billion to CHF 5.0 to 5.5 billion. The EBIT margin range will be raised from 9 to 11 per cent to 10 to 12 per cent. In the year under review, GF realised a comparable EBIT margin of 9.7 percent.