Schurter year-end closing
Decline in sales in the 2020 financial year
A rather mixed 2019 and the certainty that the Covid-19 pandemic will spread globally, as well as a strong Swiss franc, did not give Schurter much encouragement for 2020.
This resulted in a decline in sales of 3.0% from CHF 267.24 million to CHF 259.35 million. The Switzerland /Southern Europe market region recorded a decline of 10.2% compared to 2019. Eastern Europe (-8.7%), Northern Europe (-13.3%) and India/West Asia (-5.9%) also recorded massive losses compared to 2019. Germany, at +2.7%, benefited from the pandemic thanks to additional business in the medical technology segment. The markets in Asia and the USA recorded significant growth, with Asia-Pacific up 17.5% and the Americas up 10.3%, which is attributable to additional business in the Medical Technology segment and a vacuum in the distribution business. After six successful years, the company experienced stagnation in the Solutions segment for the first time.
The structural organization defined in "Strategy23" was maintained. Savings programmes and an agile adjustment of the organization of all Group companies were introduced immediately. These measures had a positive impact on the Schurter Group's results. At CHF 9.44 million, profit after tax in 2020 was significantly higher than in the previous year (CHF 6.60 million). In relation to sales, both profit at 3.6 percent and cash flow at 8.1 percent were slightly below the long-term corporate targets.
The pandemic has left its mark on the customer-specific area in particular. Interactions with customers were hardly possible at times. This had a negative impact on incoming orders for new customer-specific projects, primarily in the areas of input systems and solutions.
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