SFS Group has announced the sales figures for the 2024 financial year, with sales of the fastening system segment dropping by about 5%.
The company’s sales in 2024 were CHF3,039 million, dropping by 1.7% year-on-year. It generated an organic growth of 0.1% last year. Persistently strong negative currency effects impacted the result by –1.9%, with the overall reduction compared to 2023 being -1.7%. SFS Group said the drop was mainly due to the “persistently strong negative currency effects”, in addition to a challenging economic environment.
Sales of its Fastening Systems segment amounted to CHF480.6 million, decreasing from CHF505.5 million year-on-year.
The Distribution & Logistics segment also recorded a sales decrease, dropping from CHF1487.8 million in 2023 to CHF1,443 million last year, representing a 3% decrease.
On the contrary, sales of the Engineered Components segment increased by 1.6% year-on-year, up from CHF 1097.5 million in 2023 CHF1,115.4 million in 2024.
It added that the challenging environment of the first half of 2024 improved to a lesser degree than expected in the second half of the year. Moreover, global economic momentum fell short of expectations throughout the entire reporting period, primarily due to geopolitical tensions and economic uncertainties that resulted in lower rates of international investment and reduced demand.
