SGS, a multinational company headquartered in Geneva, Switzerland which provides inspection, verification, testing and certification services, has released its financial report for the year 2015. Total revenues at the Group reached CHF 5.7 billion, marking revenue growth of 3.6 per cent (constant currency basis), of which 2 per cent was organic and 1.6 per cent was contributed by recent acquisitions.
The company reports that organic revenue growth was most apparent in Governments and Institutions Services (12 per cent) predominantly in Product Conformity Assessments experiencing impressive double-digit growth. Besides, Systems and Services Certification noted 7.2 per cent organic growth due to high adoption rate of new 2015 standards.
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Adjusted EBITDA at SGS reached CHF 1,191 million, up 3.4 per cent on constant currency basis compared to the corresponding period last year. Net financial expenses for the year increased to CHF 43 million. The overall effective tax rate for the period was 25 per cent. Profit for the period under review reached CHF 584 million, down 6.7 per cent, mainly due to the one-off effect of the restructuring expenses of CHF 64 million in 2015 and the one-off benefit in 2014, resulting from the settlement of a long standing dispute with the Republic of Paraguay amounting to CHF 32 million.
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The Group invested CHF 103 million in acquisitions during the year, the press release states.
