A flooring giant in Switzerland, reported a 7% decline in profits for 2024, attributing the drop to an "adverse market environment." The Switzerland-based company posted a profit of 95.1 million Swiss francs (£84m), with revenue falling 4.5% to 1.12 billion francs (£991m). However, the decline in local currencies was only 1.7%.
Photo: Forbo.
Forbo operates across multiple industries, including flooring, construction adhesives, and conveyor belt solutions. Flooring remains its largest segment, contributing over two-thirds of total revenue. Forbo Flooring Systems saw sales fall 1.3% in local currencies and 3.9% in reported currency to 765.6 million francs (£676m). European sales dropped 3.3%, while the Americas and Asia/Pacific saw modest growth of 6.3% and 2.4%, respectively.
The company cited delays and cancellations of construction and renovation projects due to market uncertainty and high costs as key factors affecting demand.
Source: www.thefurnishingreport.com