Engineered Components

The Engineered Components segment displayed strong momentum, particularly in the second semester, and lifted its full-year sales by 8.1% y-o-y. The segment's trading business, which is not part of the company's core business, recovered significantly in the second half.

On a comparable basis, the segment grew 7.8%. Growth was driven primarily by new customer projects initiated in the Automotive and Electronics divisions.

Fastening Systems

Contrary to general expectations, construction activity did not recover in the European markets relevant to SFS. The reported growth of 2.0% in the Fastening Systems segment for this reason, fell short of management goals. In local currencies, the segment recorded a growth of 3.4%.

Distribution & Logistics

The Distribution & Logistics segment, which is focused on the Swiss market, narrowly missed its given target with like-for-like sales growth of 1.6%. Sales fell short of expectations particularly in the second half. Due to change in the scope of consolidation, reported sales declined 2.6%.

Sales breakdown by region

Thanks to a well above-average growth, the share of sales in North America increased to 10.6%. In Asia and Europe slightly higher sales shares of 24.3% and 41.4% were generated. Due to the lower growth dynamics and the sale of concrete reinforcement activities in mid-2013, the share generated in Switzerland fell to 23.4%.

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