Georg Fischer up on FY earnings beat, positive outlook

Georg Fischer AG

01/03/2023 08:15

** Shares in Georg Fischer  GF.S  are up 4.7% after the
Swiss company reported full-year earnings above expectations and
issued a "positive" outlook
    ** The industrial machinery group's 2022 operating result
increased 41% year-on year to 391 million Swiss francs ($416
million), while EBIT margin was at 9.8%, up from 7.5% in 2021  
    ** It says it expects to continue growing with an operating
profitability in the Strategy 2025 corridor (EBIT margin 9-11%)
    ** The firm also proposed to raise dividend to 1.30 Swiss
francs ($1.38) per share, compared to 1.00 Swiss francs in the
previous year 
    ** Vontobel says in 2022, all three divisions of GF
delivered higher earnings, and consequently group EBIT beat
consensus by 9%
    ** "Very good 2H22," Baader Helvea says, adding that the
unspecific outlook has a positive tone


($1 = 0.9394 Swiss francs)

 (Reporting by Andrey Sychev)
 ((Andrey.Sychev2@thomsonreuters.com))