SGS posts Q1 2024 sales update

SGS reports its sales for Q1 2024, with a headline decline of 2.1% to 1577m CHF, which includes a -8.6% impact from currencies and a 7.1% organic growth.

The highlights of the performance were, ‘Sustainability, digital trust, supply chain services and increased regulations supported the strong organic growth, in line with industry megatrends. All divisions and regions contributed to this positive performance.’

Within the overall results, the Business Assurance division saw an increase in organic turnover of 7.6%, ‘driven by sustainability. Double-digit organic growth in Management System Certification was supported by strong activity in medical devices, digital trust and food, notably in North America, Europe and Asia Pacific. Strong momentum in Quality, Health & Safety and Environment also contributed to growth. Sustainability increased in high single digits.’

Overall, turnover remained at 170m CHF due to the -7.6% currency impact.

As regards the outlook for 2024, SGS anticipates, ‘Mid to high single-digit organic growth’.

For further details see the full press release here.