Georg Fischer AG Business Report FY ended Dec. 2017

Recent Years

Financial Overview

(in million CHF)
FY ended Dec. 31, 2017 FY ended Dec. 31, 2016 Rate of change (%) Factors
-Net Sales 4,150 3,744 10.8 1)
-EBITDA 491 443 10.8 -
GF Automotive
-Sales 1,482 1,335 11.0 2)

1) Net Sales
-In the fiscal year ended December 31, 2017, the Company’s net sales increased by 10.8% to CHF 4,150 million. The increase in sales was caused by gains in all three of the Company’s divisions, most significantly in the GF Piping Systems division.

2) GF Automotive Sales
-The Company’s GF Automotive division had sales of CHF 1,482 million in the fiscal year ended December 31, 2017, an increase of 11.0% over the previous year. Sales increased on the back of a sustained demand for both its light metal castings for cars and its iron castings for trucks. Organic growth itself was 9% as the Euro strongly appreciated during the second half-year.


-Per end of January 2018, GF Automotive announced the acquisition of Precicast Industrial Holding SA, a Swiss-based precision casting specialist, thus increasing its industrial sectors' presence, in particular in the promising aerospace field. In order to better reflect the evolution of its portfolio, the name of the division will be, as per closing, changed to GF Casting Solutions. (From Annual Report 2017)

-The Company’s GF Automotive division, GF Automotive, announced the acquisition of Eucasting Ro SRL, a high-pressure aluminum die casting specialist with two productions sites in Romania. The acquisition follows GF Automotive’s strategy to expand its presence in the growing light metal components business. With a workforce of 500 employees, Eucasting generates a turnover of about CHF 50 million. Over 60% of the sales are achieved in the automotive segment followed by lighting solutions and further industrial applications. Eucasting was founded in 1960 in Italy, in 2006, the company started the expansion in Romania with a die casting foundry in Pitesti, 100 km west of Bucharest (Romania). Based on a strong customer demand for aluminum castings, a second plant in Scornicesti (around 50 km south of Pitesti) was opened in 2010. (From a press release on August 25, 2017)

New plant

-The Company’s GF Machining Solutions division announced that it will build a state-of-the-art production plant to manufacture machine tools and spindles on an area of around 24,500 square meters in Biel, Switzerland. The new facility will include a cutting-edge research & development center as well as a modern application center. The three existing GF Machining Solutions sites Nidau, Ipsach and Luterbach (all in Switzerland) will be concentrated under the roof of the new building. GF is investing about CHF 80 million in the new plant over the next three years. (From a press release on March 8, 2017)


-The Company is aiming to achieve a sales growth in the 3-5% range while maintaining profitability figures in the 8-9% range for the ROS and 18-22% for the ROIC.

R&D Expenditure

(in million CHF)
FY ended Dec. 31, 2017 FY ended Dec. 31, 2016 FY ended Dec. 31, 2015
GF Automotive 19 18 18
Overall 112 104 102

R&D Facilities

-The Company’s GF Automotive division has research and development facilities located in Schaffhausen, Switzerland and Suzhou, China.

Capital Expenditure

(in million CHF)
FY ended Dec. 31, 2017 FY ended Dec. 31, 2016 FY ended Dec. 31, 2015
GF Automotive 103 89 80
Overall 172 155 138

Investments Outside Switzerland

--The Company announced that GF Linamar, the joint venture between GF Automotive and Linamar, officially opened its first U.S. production facility in Mills River, North Carolina. The 57-acres high-pressure die-casting facility focuses on lightweight solutions in aluminum and magnesium for the automotive industry, drawing from the expertise of both partners. The overall investment over the next five years amounts to approximately USD 100 million. With several major purchase orders already secured, the new facility is expected to reach its full projected capacity utilization in the next few years. (From a press release on October 6, 2017)