Profile

SGS provides tailored inspection, verification, testing and certification solutions to its customers to make their commercial activities faster, simpler and more efficient. Its worldwide network consists of more than 89,000 employees at more than 2,600 offices and laboratories.

16.6 %
Portfolio value 06/30/2021
26.2 %
Net dividend 12/31/2020
Investment case

The industry is characterised by high barriers to entry, fragmentation and attractive fundamentals:

  • Global need across industries for safety and traceability
  • Expansion and ageing of infrastructure
  • Outsourcing of activities
  • Development of regulations and compliance demands
  • Growing complexity of products
  • New digital growth areas including e-commerce
  • Consolidation in multiple sectors

In this sector, SGS offers a particularly attractive profile:

  • World leader
  • Best in class profitability, returns and cash flow generation
  • Diversified portfolio
  • Ideally positioned to take advantage of growth opportunities
  • Resilient across economic cycles
  • Solid balance sheet in support of M&A and attractive shareholder remuneration
  • Board of Directors 2/8*
  • Remuneration and Nomination Committee 1/3*
  • Corporate Governance and Sustainability Committee 1/4*
  • Board of Directors
  • Board of Directors Remuneration and Nomination Committee Corporate Governance and Sustainability Committee