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    FORN   CH0003541510

FORBO HOLDING AG

(FORN)
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EQS-Adhoc : Double-digit organic sales growth - -2-

07/30/2021 | 12:01am EDT
of the year, Mexico also achieved good results. In Asia/Pacific, all markets showed sales growth of varying degrees. 
The core Chinese market grew sharply, India also performed well in an environment which remains challenging, so did 
Turkey. Australia, South Korea and Southeast Asia reported a solid rise in sales, while Japan's recovery proceeds at a 
slightly slower pace. 
Operating profit (EBIT) more than doubled to CHF 25.3 million (prior-year period: CHF 10.2 million). This significant 
improvement is due to the positive sales trend, the adjustment of operating structures and above all to the strongly 
increased capacity utilization. Movement Systems was already affected in early 2020 by the then sudden consequences of 
COVID-19, with Movement Systems' important production site in China having gone into full operation in 2019. It was 
followed somewhat later by other major production and assembly sites in Germany, Slovakia and the USA, as well as many 
smaller local assembly and service sites. The EBIT margin came to 12.7% (prior-year period: 5.8%). The focus for the 
second half-year will be on the market launch of the newly developed product line of homogeneous conveyor belts - these 
are primarily designed for the food industry - as well as the flexible sales price adjustments in response to the cost 
increases in some raw materials, combined with a continuing prudent cost management. 
Increased focus on implementing strategy after operational challenges 
Even after this special pandemic year, Forbo has a solid capital structure, good liquidity, a robust cash flow, and is 
free of debt. Its global presence and strong market positions, plus the broad, innovative and sustainable product 
portfolio enable Forbo to persistently implementing its strategy. The company has therefore continued to pursue all its 
strategically important projects despite the difficult times. Following the operational challenges which dominated 
2020, Forbo will again increasingly focus on expansion in growth markets, targeted strengthening of its distribution 
organizations, selective capacity expansion in product lines with better-than-average growth, promoting innovations - 
coupled with digitization advances - and capitalizing on external growth opportunities provided added value can thereby 
be created. 
Outlook for 2021 
The pandemic will remain with us and will continue to have negative effects in certain areas in the second half of the 
year, albeit to a lesser extent. The significant base effect will be greatly diminished in the second half of the year 
due to the good second-half performance in the previous year. Rising prices for raw materials and some bottlenecks in 
the availability of raw materials will be additional factors. These will be counteracted by the realized adjustments on 
operating structures and processes along with attractive new products and services. 
With regard to guidance for the full year 2021, Forbo is cautiously optimistic and is increasing its outlook on sales 
and Group profit. Provided that there are no fundamental changes to the overall general conditions, Forbo anticipates 
sales growth close to reaching double-digit growth figures and Group profit to be up to one-quarter higher than in the 
previous year. 
You can find further information in the electronic version of the 2021 half-year report published this morning on the 
Internet: 
www.forbo.com -> Investors 
MEDIA RELEASE FULL VERSION (PDF FILE) 
Forbo is a leading producer of floor coverings, building and construction adhesives, as well as power transmission and 
conveyor belt solutions. Forbo's linoleum floor coverings are made from natural raw materials. It is biodegradable and 
CO[2]-neutral (cradle to gate), without offsetting. In the manufacture of its heterogeneous vinyl floor coverings, 
Forbo uses the latest in phthalate-free plasticizers with a base layer containing up to 45% recycled material. The 
BioBelt(TM) is a biologically degradable conveyor belt made largely from renewable, plant-based materials. The AmpMiser 
(TM) conveyor belt enables energy savings and therefore also a reduction in CO[2] emissions of up to 50%. 
For Forbo as a responsible manufacturer, the careful use of all resources for a sustainable future is a guiding 
principle. 
Forbo employs about 5,500 people and has an international network of 25 sites with production and distribution, 6 
assembly centers, and 49 sales organizations in a total of 39 countries around the world. The company generated net 
sales of CHF 1,117.7 million in the 2020 business year. Forbo is headquartered in Baar in the canton of Zug, 
Switzerland. 
Forbo Holding Ltd is listed on SIX Swiss Exchange (security number 354151, ISIN CH0003541510, Bloomberg FORN SW, 
Reuters FORN.S). 
Contact person: 
This E. Schneider 
Executive Chairman 
Phone +41 58 787 25 49 
www.forbo.com 
www.forbo.com -> Sustainability 
=---------------------------------------------------------------------------------------------------------------------- 
End of ad hoc announcement 
=---------------------------------------------------------------------------------------------------------------------- 
Language:     English 
Company:      Forbo Holding AG 
              Lindenstrasse 8 
              6341 Baar 
              Switzerland 
Phone:        +41 58 787 25 25 
Fax:          +41 58 787 25 20 
E-mail:       info@forbo.com 
Internet:     www.forbo.com 
ISIN:         CH0003541510 
Listed:       SIX Swiss Exchange 
EQS News ID:  1222887 
 
End of Announcement EQS Group News Service 
=------------ 

1222887 30-Jul-2021 CET/CEST

 
Image link: 
https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1222887&application_name=news 
 

(END) Dow Jones Newswires

July 30, 2021 00:00 ET (04:00 GMT)

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Analyst Recommendations on FORBO HOLDING AG
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Financials
Sales 2021 1 228 M 1 327 M 1 327 M
Net income 2021 131 M 141 M 141 M
Net cash 2021 170 M 184 M 184 M
P/E ratio 2021 22,0x
Yield 2021 1,26%
Capitalization 3 023 M 3 267 M 3 267 M
EV / Sales 2021 2,32x
EV / Sales 2022 2,21x
Nbr of Employees 5 519
Free-Float 63,2%
Chart FORBO HOLDING AG
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Forbo Holding AG Technical Analysis Chart | FORN | CH0003541510 | MarketScreener
Technical analysis trends FORBO HOLDING AG
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 7
Last Close Price 1 898,00 CHF
Average target price 2 008,00 CHF
Spread / Average Target 5,80%
EPS Revisions
Managers and Directors
Stephan Bauer Chief Executive Officer
Andreas Jaeger Chief Financial Officer
Mathias Ernst Schneider Executive Chairman
Peter Altorfer Vice Chairman
Michael Pieper Vice Chairman
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