ALTDORF, Switzerland—Datwyler Group has reported pressure on its earnings margins in 2022, due to the sharp rise in input costs and a temporary closure of its subsidiary in Ukraine.
The Swiss group reported a 7-percent year-on-year decline in operating results (EBIT) to $156 million, on 21-percent higher sales of $1.1 billion.
EBIT margin fell to 13 percent for the year, down from a level of 16.9 percent reported in 2021.
In a Feb. 9 statement, Datwyler said the increased revenues reflected its acquisitions of QSR in the U.S. and Xinhui in China, as well as the implementation of price increases.
The earnings decline was linked to the delayed impact of price increases, restructuring measures and the temporary closure of its Ukrainian subsidiary.
Commenting on Datwyler's performance, CEO Dirk Lambrecht said the group had "coped well" amid all the challenges of the past year.