FOSS A/S increased turnover to EUR 197 million and EBIT to EUR 30 million – both figures are a record for the company. The company will emerge stronger after the economic crisis thanks to ongoing introduction of groundbreaking innovative products for improvement of food quality.

FOSS turnover rose in 2008 to EUR 197 million, equal to an organic growth of 7%. The result for primary operations (EBIT) was EUR 30 million equal to an increase of 8%. FOSS based its growth on development of groundbreaking analysis equipment for the food industry that meets consumers’ demands for improved food quality. FOSS analytical solutions are sold in more than a hundred countries.

Turnover and operational result

In 2008, FOSS A/S recorded a turnover of EUR 197 million (of which 98% was derived from abroad), equivalent to an organic growth of 7%. Primary operations (EBIT) grew by 8% to EUR 30 million equal to 15% of turnover.

”Despite the difficult market conditions towards the end of the year, we have achieved an excellent operational result for 2008 with progress in both sales and operational profit. We have made progress in China, Russia and USA and several European countries. Thereby, the growth has been founded on a broad base,” says FOSS president, Peter Foss.

“In 2008 we have established a new FOSS sales subsidiaries in India and Brazil as a part of our increased investment in growth markets.”

Solvency ratio is 74% and own capital is over EUR 147 Million. “It is very satisfying that we have the necessary capital strength to initiate acquisitions within our business area should the right possibilities present themselves,” says Peter Foss.

Continued strategic investment in innovation

FOSS A/S expects very difficult market conditions during 2009 due to the global economic crisis. “We base our growth on the regular introduction of groundbreaking new products. In 2008, we introduced several new analytical solutions for our customers in agricultural and food industries, and we have more on the way,” says Peter Foss. “It is this continued big investment in innovation that will lead us to come out stronger from an expected difficult year.”

“In 2008, we successfully introduced a transportable, high quality grain analyser for use on large farms, the Infratec Sofia – an instrument that allows farmers can analyse there own grain. It is a minor revolution in our world,” says Peter Foss.

Key figures

Financial result: