Good performance for Artemis Group

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Artemis Group‘s announced its 2022 results. Consolidated net sales of the company increased by 9.6% to CHF 3.63 billion. Organic growth amounted to CHF 295.6 million (8.9%). Acquisitions/divestitures contributed CHF 158.2 million (4.8%) to growth, while currency effects reduced net sales by CHF 137.2 million (4.1%). Despite the unfavorable operating environment, Artemis Group increased its operating result (EBIT) thanks to higher net sales and good cost discipline. EBIT increased by CHF 20.5 million to CHF 230.2 million, an increase of 9.8%.

In addition total investments increased by 28.4% from CHF 224.3 million to CHF 288.1 million. A large part of this went into the expansion and optimization of various production sites as well as the purchase of land and the construction of a new production facility in Mexico for the Franke Group. The Feintool Group acquired Kienle + Spiess GmbH (DE), which manufactures components for electric motors and generators.

«Nearly all divisions – the company commented – contributed to the sales growth. Franke Foodservice Systems benefited from continued solid demand in the reporting year and increased sales by 3.9%. At Franke Coffee Systems, the recovery in demand following the Covid crisis took longer, but the division was able to successfully process additional major orders in the final months of the year, thus increasing sales by 15.1%. Franke Home Solutions, the unequivocal winner of the Covid crisis in 2021, experienced a pleasing start to 2022, but suffered a decline in demand in the second half of the year due to changes in consumer behavior and destocking in the distribution system. Thanks to price increases to cover higher material, energy and logistics costs, sales ultimately declined by only 2.5%».