Forbo Holding AG Reports Resilient 2024 Financial Performance

Forbo Holding AG, a major producer of floor coverings and adhesives, posted net sales of CHF 1,122.0 million in 2024, marking a 1.7% decline in local currencies amid challenging market conditions. The group maintained a double-digit EBIT margin despite decreased sales, while remaining debt-free with strong cash flow.

Operating profit fell to CHF 120.6 million, a 7.2% decrease from the previous year, attributed to inflation and reduced demand. Free cash flow stood at CHF 91.8 million, boosting net cash and treasury shares to CHF 165.3 million by year-end.

The Flooring Systems division faced reduced demand due to fewer construction projects, while the Movement Systems division saw a 2.7% sales drop as customers hesitated to invest. Despite these challenges, Forbo advanced strategic projects and improved sustainability, reducing CO2 emissions per square meter produced by 2.5%.

The board proposed an unchanged dividend of CHF 25 per share and predicted slight sales and profit growth in 2025, contingent on stable geopolitical and economic conditions.