ALTDORF, Switzerland—Datwyler Holding Inc. has seen an increase in 2021 sales and operating results, helped by "strict cost management" and growth across all businesses.
The Swiss group reported an 18-percent year-on-year growth in operating profit (EBIT) to $251 million (CHF 234 million), helped by a $63 million profit from the sale of online distributor Reichelt as well as "continual efficiency improvements and strict cost management."
Sales for the full year came in at $1.2 billion, up 3.4 percent compared to last year.
During 2021, the Swiss group said it was able to "significantly increase" revenue from continuing operations in all business units, surpassing average growth rates in all the markets it serves.
With the divestment of Reichelt, Datwyler said it completed its strategic transformation into a focused provider of system-critical elastomer components in 2021.
"In the forthcoming phase, the company will focus on organic growth and targeted acquisitions so as to strengthen existing business sustainably," it said.
The group said it had "a strong balance sheet, highly distinctive core competencies and competitive advantages" to accelerate its growth strategy.