Forbo (FORN) investor relations material

Executive summary

• Net sales in local currencies increased by 4.0% year-over-year, reaching CHF 545.7 million, despite adverse currency effects and a challenging market environment.

• Operational improvement initiatives and new leadership began to show positive impact, with adjusted operating profit up 8.4% year-over-year, excluding CHF 4.6 million in one-off structural adjustment costs.

• Full-year 2026 guidance was confirmed, expecting slightly lower sales due to currency effects but slightly higher operating profit.

• Flooring Systems faced margin pressure from weak construction markets, while Movement Systems benefited from logistics and food sector recovery.

• Leadership changes included new CEO and CFO appointments, with further organizational strengthening and a new mid-term strategic plan to be presented.

Financial highlights

• Net sales: CHF 545.7 million, up 4.0% in local currencies but down 0.2% in CHF due to negative currency impact.

• EBITDA: CHF 66.5 million, down 1.6% year-over-year; EBITDA margin at 12.2%.

• Operating profit (EBIT): CHF 41.9 million, down 2.3% year-over-year; EBIT margin at 7.7%.

• Net profit: CHF 30.8 million, down 7.8% year-over-year; earnings per share CHF 21.66, down 8.6%.

• Free cash flow improved to -3.1m CHF from -30.4m CHF, with operating cash flow at CHF 12.9 million.

Outlook and guidance

• Economic conditions are expected to remain challenging in H2 2026, with continued geopolitical instability and elevated procurement costs.

• Full-year 2026 guidance confirmed: slightly lower sales due to currency effects, slightly higher operating profit expected.

• Internal improvements include new leadership, sales management, and operational efficiency focus.