SGS Publishes 2023 Integrated Report

SGS today publishes its 2023 Integrated Report. Providing meaningful information on financial and non-financial results, this year’s report format has been updated and improved to help stakeholders better understand the company’s strategy, performance, governance and impact on the planet.

Strong organic growth and free cash flow generation in 2023

In 2023, SGS delivered superior organic sales growth and a significant increase in free cash flow, thanks to the breadth of its portfolio. It rose to the global challenges of rising costs and global instability. Thanks to its people, focus on productivity, geographic and service diversity, it innovated in new growth areas. 

Strategy 2027 to drive growth and profitability

Building on its strengths, SGS announced its Strategy 2027: Accelerating growth, building trust. This new strategy is created to drive profitable growth, streamline the organization and deliver attractive returns for stakeholders. It is based on three powerful value drivers: 

• Growth: the Group will capitalize on the strong underlying annual momentum of the testing, inspection and certification industry and invest in segments and regions where greater opportunities exist.
• Performance & Agility: SGS will implement a cost-disciplined operating model and a performance driven culture, promoting accountability. A new Executive Committee of 12 members will be appointed.
• Strong Financial Profile: SGS will grow externally through accretive and synergistic acquisitions while keeping a strong balance sheet. The shareholders remuneration will remain attractive.

Géraldine Picaud, CEO Designate, said: “I look forward to leading such a great company and to driving positive change in this dynamic industry. In line with our Strategy 2027 we will invest in segments and regions where greater opportunities exist, simplify our organization and enhance our financial profile to create value for all our stakeholders.”