During 2020 Artemis Group‘s consolidated net sales fell organically by 6.9% to CHF 2.80 billion, which is 12.5% down on the previous year’s figure. The Feintool Group (-19.1%) and the Franke Group (-3.6%) recorded the largest organic decline in sales. Acquisitions increased net sales by 0.1%, while the stronger Swiss franc resulted in a negative currency effect of 5.7%.
Faber Hoods & Cooking Systems and Franke Water Systems achieved organic growth, while the other three Franke Group divisions saw a reduction in organic sales during the reporting period. After a good start to the 2020 financial year, the five divisions were affected in different ways by the spread of the Covid-19 crisis. Franke Kitchen Systems and Faber Hoods & Cooking Systems experienced a sharp decline in sales during the second quarter of 2020, but recovered in all regions during the second half to achieve growth for the year of -1.3% and 9.8% respectively. Franke Coffee Systems suffered the most from the negative effects of the crisis, recording an organic decline in sales of 14.1%.
«The positive development of profitability, however, shows that despite the Covid-19 crisis, the Franke Group has managed to improve its operating earning power. – commented the company in a press release -. This is primarily thanks to the timely introduction of strict cost-cutting measures, combined with the swift recovery of sales in several divisions. During the reporting period, Franke Kitchen Systems implemented additional turnaround measures, achieving a significant improvement in profitability after a long period of decline for the second year in a row. Faber Hoods & Cooking Systems and Franke Water Systems were able to increase their profits in almost all companies. Franke Foodservice Systems and Franke Coffee Systems had to face a drop in sales due to the Covid-19 crisis, and this led to lower profits».
