The Swiss SFS Group has revealed strong growth in 2017, with organic growth of 7.4% in 2017.
Overall, the Group saw sales increase 13.7% to CHF 1,632.7 million and operating profit up 12.5%.
The Group's Fastening Systems segment saw good momentum continue into H2, with sales of CHF 384 million and growth of 8%. Demand was particularly high for the Construction division in Europe and North America. SFS Group attributed the success to innovative products, which helped it gain market share. SFS Group added that "key transformational projects are nearing completion" which will bring cost-savings in the coming years.
SFS Group also splits its business into a Distribution & Logistics segment, which saw solid 3.2% growth to CHF 322.9 million. The business units tools and fastening systems showed very good growth, the report said, which also noted the strength of the euro and the subsequent "significant increase in procurement costs for third-party merchandise".
Taking into account all its business segments, SFS Group saw growth in every region. Operating profit (EBITA) for the year is expected to increase 12.5%.
SFS Group's Fastening segment is divided between GESIPA (Riveting division) and SFS intec (Construction division).