Georg Fischer Clearly Exceeds Growth Aim
Thanks to demand in China, Schaffhausen-based Georg Fischer has significantly increased their consolidated sales by 11 %. GF Piping made the largest contribution to the company’s growth.
Last year, GF grew substantially in all regions. The highest growth rates were registered in China. Group sales rose by 11 % to approx. $ 4,362 million. These figures are well above the annual targets of 3-5 % set in the company’s 2020 Strategy. All three divisions contributed to this growth, with GF Piping Systems achieving the highest turnover.
Machining Solutions Increases Profitability
The operating result (EBIT) amounted to $ 370 million, increasing the EBIT margin (ROS) to 8.5 % which is slightly above previous year's 8.3 %. GF Piping Systems and GF Machining Solutions in particular contributed to the increase in profitability. GF Machining Solutions looks back on a successful 2017. The main drivers were aviation as well as information and communications technology, especially in China but also in Europe. In addition, strong demand for automation solutions and new products led to higher sales in the second half of the year. The division's internal operating profit rose sharply by 32 %.
This article was first published by Schweizer MaschinenMarkt.
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