Uponor results for Q4 and FY 2023: Comparable Operating profit margin increase and resilience amid turbulent markets
The Finnish company Uponor Corp., part of the GF group since November 2023 and listed on Nasdaq Helsinki (Finland), has published today its Q4 and annual results 2023. In a challenging market environment, Uponor was able to increase its comparable operating profit margin, both for the fourth quarter 2023 and for the full year 2023.
Sales for FY 2023 reached EUR 1'221.0 million (2022: EUR 1'386.2 million). Sales excluding currency effects and divestments reached EUR 1’250.9 million (-9.8%), which is in line with Uponor's 2023 guidance. Comparable operating profit for the full year 2023 came in at EUR 150.5 million (2022: EUR 153.7 million) or 12.3% (11.1%) of net sales.
The financial results for November–December will be fully consolidated into Georg Fischer AG. In line with expectations, the financial results in these months are seasonally low compared to the rest of the year. Reflecting the improved margin resilience demonstrated throughout the year, November and December 2023 comparable operating profit margin was clearly above the average profitability of recent years. The EBIT contribution of GF Uponor to the result of Georg Fischer AG will be adversely affected by one-off effects from the Purchase Price Allocation (PPA).
Read the full Uponor announcement here.
GF has on 17 November 2023 filed an application with the Redemption Committee of the Finland Chamber of Commerce to initiate compulsory redemption proceedings for the remaining outstanding Shares of Uponor. GF intends to apply for those Shares to be delisted from Nasdaq Helsinki as soon as permitted and reasonably practicable under the applicable laws and regulations and the rules of Nasdaq Helsinki.
GF will publish its annual result 2023 on 19 March 2024 at 07:00 am CET.
2023年11月13日起，GF由GF管路系统、GF欧博诺、GF成型方案和GF加工方案四个事业部组成，提供能够安全运输液体和气体的产品和解决方案，以及轻量化铸造零部件和其他高精度制造解决方案。作为可持续发展和创新领袖，GF致力于实现盈利性增长，并在两百多年来一直为客户提供卓越价值。集团成立于1802年，总部位于瑞士，在34个国家设有138家公司，其中60家为制造型公司并拥有83个生产基地。截止到2022年12月31日，GF分布于全球的15,207名员工，共计创造了39.98亿瑞士法郎的销售额。
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