Annual Report 2017

GF grew substantially in all regions in 2017 with China showing the highest rates of growth and overall sales reached CHF 4‘150 million, an 11% increase. Free of acquisitions and currency effects, growth reached the 10% mark, well over the 2020 strategy objective of 3–5% per annum. All three divisions did contribute in a significant manner, GF Piping Systems the most.

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Annual Report

Growth well above target

The operating result (EBIT) reached CHF 352 million, for a return on sales (ROS) of 8.5% against 8.3% in 2016, and the return on invested capital stood at 20.3%, up from 19.3% in 2016. The increase of profitability was attributable to GF Piping Systems and GF Machining Solutions.

The number of employees increased by 7% to 15’835 against 14’808 in 2016, mainly as a result of the acquisitions done during the course of the year.

GF achieved a net result of CHF 258 million, a 15% increase to previous year and net cash flow before acquisitions stood at CHF 204 million well in line with the company’s objective range of CHF 150–200 million a year. Earnings per share reached CHF 62 against CHF 53 for 2016.

In view of the positive financial developments in 2017, the Board of Directors will propose at the upcoming shareholders’ meeting an increased dividend of CHF 23 a share, up from CHF 20 in the previous year.

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