Sedus announces a profit in 2020 annual accounts
Sedus presents its annual accounts for 2020, in which it posted a solid profit despite the loss of sales due to the pandemic.
Dogern, Germany With a turnover of 184 million euros, the Sedus Stoll Group suffered a decline in sales of -12.4% in the first year of the pandemic. However, despite all the difficulties, the 2020 financial year closed with a solid profit of EUR 2.54 million.
During the 2020 financial year, shaken by the onset of the pandemic and the subsequent uncertainties, order intake fell particularly sharply in the months of March and April. However, with the development of a range of furniture specifically designed for the home office and aerosol protection screens for retrofitting to existing office furniture, Sedus responded quickly and flexibly to the new market requirements and was thus able to cushion the losses without any major problems.
In terms of the workforce, there were virtually no changes, with a total of 936 employees in the Sedus Stoll Group. However, investments grew across the board: the Sedus Stoll Group’s investments in tangible and intangible assets totaled 10.8 million euros in the 2020 annual accounts.
With the major project “Futura 2”, which totals EUR 20 million and was commissioned in March 2021, the Geseke plant will become the focus of investments over the next two years. The new fully automated production plant will be ready for commissioning in autumn 2022. The production and storage halls, which have been expanded by 9,000 m², should be ready by the end of 2021/2022.
These investments are indicative of the Sedus Board’s confidence in the future of the company and the prospects for a return to normal working and business life, with no major surprises expected for 2021.
To contain the current pandemic, the company has adopted and implemented complementary measures to protect its employees, focusing on rapid tests and self-monitoring. Since mid-April, regular and comprehensive tests have been carried out as an additional measure.
Despite all the uncertainties that the current situation may entail, the goal for the current fiscal year is clear. The company wants to build on its pre-pandemic success as soon as possible and achieve a similarly high level of earnings.
In addition, the company will celebrate its 150th anniversary in the second half of the year as circumstances permit. Further details of the celebrations will follow.
Click here to access the Sedus Stoll Group 2020 Annual Report.
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