Bobst Group has released its 2020 full year results. It’s financial figures were severely impacted by COVID-19 lockdowns, as sales dropped to CHF 1.372bn from CHF 1.636bn in 2019 with important negative FX impact (CHF -63 million). Operating result (EBIT) at CHF 44m was down from CHF 81m in 2019. Net result was CHF 17m (CHF 53m 2019).
Employees’ security and business continuity were well managed throughout the year which allowed the achievement of good overall financial results given the pandemic circumstances. The return on capital employed (ROCE) decreased to 8.3% compared to 12.9% in 2019 and the equity ratio decreased to 33.2% from 36.7% in the previous year. An outstanding cash inflow from operating activities of CHF 160m (CHF 55m 2019) allowed the Group to turn a net debt position of CHF 59m in 2019 into a net cash position of CHF 4m in 2020.
The Board of Directors recommended to the Annual General Meeting of Shareholders not to pay a dividend in 2021 (CHF 1.50 in 2020). In 2021, the Group is currently expecting full year sales and operating result (EBIT) to be similar or slightly higher as in the previous year if the pandemic situation does not deteriorate.
