On this day the 4th June 2019, the General Shareholders’ Meeting of Herstal S.A., holding company of the Herstal Group, approved the 2018 accounts.
Despite major shifts in the global geopolitical landscape and an increasingly competitive cyclical market, Herstal Group has continued to consolidate its position as a world leader in its two business sectors: Defence and Security via the FN Herstal brand, and Hunting and Sports Shooting via the Browning and Winchester brands. These two sectors accounted for 65% and 35% of turnover repsectively.
Herstal Group’s consolidated turnover for 2018 came to 828.9 million euros, up 5.7% on 2017. The Defence and Security business is growing, underpinning its global presence with a number of major successes throughout the year and also strengthening its position as a leading NATO supplier. The Hunting and Sports Shooting business is stable overall in more difficult market conditions.
The end-of-year figures for the 2018 financial year show a consolidated net income of 59.4 million euros, of which the General Shareholders’ Meeting has decided to pay 20 million euros in dividends.
Herstal Group is continuing its strategy to continuously modernise and to internationalise and diversify its products, markets, clients and technologies across its core activities, in support of its growth pattern and to counterbalance the risks inherent in its business activities. In 2018, over 40 million euros were invested in research and development alone at group level.
In addition, the company continues to play a major role in regional economic growth through its large subcontracting network and involvement in a number of innovative technological projects (e.g. the MecaTech and Skywin centres of excellence), as well as its many social, entrepreneurial and cultural contributions.
Philippe Claessens, Chief Executive Officer of Herstal Group, states: "The 2018 financial year ended with very positive results that reflect the commitment of everyone who works at the Group. In addition, the Group is continuing to grow strategically through its sustained policy of delivering innovation and maintaining a global footprint. Nevertheless, we are faced with an increasingly complex international environment. Therefore, we need to be more determined than ever to accept the challenges that these changes bring and maintain the global dimension that is vital to the Group’s balance."
The Herstal Group has its policy centre in Herstal and employs nearly 3,000 personnel worldwide in the USA, UK, Portugal, Finland, Dubai, Singapore and Japan. The number of jobs at the company in Belgium has continued to grow over recent years, where it currently employs close to 1,600 personnel.