The SGS Group achieved solid results in 2012, delivering revenue growth of 16.3% (14.5% on a constant currency basis) to CHF 5.6 billion with Oil, Gas & Chemicals Services becoming the first business sector to exceed one billion in revenues. Overall, a strong organic growth of 10.2% was complemented by a 4.3% contribution from recently acquired companies.
Adjusted operating income increased 12.9% over prior year on a constant currency basis, reaching CHF 941 million and resulting in a margin of 16.9%. This is slightly down from 17.1% in prior year, reflecting investments made in line with the 2014 Plan, a few initially margin-dilutive acquisitions and weaker results in some businesses.
During the year, the Group undertook a number of restructuring plans to align its operations to current market conditions, resulting in one-off expenses totalling CHF 47 million (net of tax). These initiatives focused mainly on European operations.
Net profit for the year, including these restructuring costs, increased 1.5% compared to prior year (constant currency basis) to CHF 556 million, while Adjusted Net Profit increased by 10.5%.
Operating cash flows remained strong at CHF 800 million, an increase of 15.9% over prior year, enabling the Group to comfortably fund capital investments of CHF 377 million and complete eighteen acquisitions for a total cash outflow of CHF 176 million.
The Board of Directors will propose a dividend of CHF 58 per share, CHF 30 representing an ordinary distribution of 41% of net profit and an additional CHF 28 reflecting the healthy cash generation capabilities of the Group.
Download the 2012 Full Year Results report
Télécharger les Résultats Annuels 2012
For further information, please contact:
Jean-Luc de Buman
Communications & IR
1 place des Alpes
CH - 1211 Geneva 1
t: +41-22 739 91 11
f: +41-22 739 92 00
SGS is the world’s leading inspection, verification, testing and certification company. SGS is recognized as the global benchmark for quality and integrity. With more than 75,000 employees, SGS operates a network of over 1,500 offices and laboratories around the world.