IVF Hartmann Group feels effects of the pandemic
The business development of the IVF Hartmann Group in 2021 continued to be affected by the Covid 19 pandemic. High inventory levels at customers and pandemic-related restrictions led to a decline in sales.
The consequences of the pandemic are also putting pressure on the results of the IVF Hartmann Group, one of the leading companies in the field of medical consumables in Switzerland. This is evident from the 2021 annual financial statements just presented. Sales revenue fell by 16.7 % to CHF 144.1 million. Earnings before interest and taxes (EBIT) decreased by 63.8 % to CHF 7.7 million. The EBIT margin decreased by 6.9 percentage points to 5.3 %. Net profit decreased by 65.2 % to CHF 6.2 million from the previous year's record high CHF 17.8 million (fiscal 2019: CHF 12.2 million). However, the IVF Hartmann Group said it continues to have a solid financial basis: the equity ratio increased by 2.2 percentage points year-on-year to 79.1 %. The Board of Directors will propose an ordinary dividend of CHF 1.90 per registered share at the 2022 Annual General Meeting. In the previous year, the company had paid an ordinary dividend of CHF 2.50 and a 150th anniversary dividend of CHF 1.00 per registered share.
Outlook: Robust sales development expected
After the two-year pandemic, the IVF Hartmann Group expects a gradual normalization of business in 2022. As the company has maintained or expanded its market shares in most areas even in the environment characterized by Corona, it can seize the opportunities that arise from a position of strength, according to the statement. High growth potential exists in particular in application areas that require in-depth specialist knowledge, special manufacturing know-how and a high level of familiarity with customers' needs, it said. The Group's intentions also include continuing to drive forward the digitization of services. New integral logistics solutions are also to be provided. Complementing the "Hartmann easy" procurement platform, the IVF Hartmann Group aims to significantly increase its sales generated online. With this goal in mind, cooperation with well-known online retailers will be intensified on the one hand, and the development of the company's own e-commerce platforms will be accelerated on the other.
For fiscal 2022, the Group expects a robust sales development and EBIT that will be higher than in 2021.
Change in the Board of Directors of the IVF Hartmann Group
Dr. Rinaldo Riguzzi, 75, has decided not to stand for re-election at the next Annual General Meeting on April 26, 2022, after 35 very successful years with the IVF Hartmann Group (including 31 years on the Board of Directors). The Board of Directors will also propose to the Annual General Meeting the election of Mrs. Cornelia Ritz Bossicard as the new Chairwoman of the Board of Directors. The Ordinary General Meeting will be held in accordance with the Covid 19 Ordinance of the Swiss Federal Council, without the physical presence of shareholders. This year, all shareholders have the exclusive option of granting an electronic or written proxy with instructions to the independent proxy (Dr. iur. Jürg Martin, Attorney at Law, Winterthur).
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