WASHINGTON (dpa-AFX) - SGS Group (SGSOY.PK), a Swiss inspection,
verification, testing and certification company, reported Friday that its
first-quarter sales reached 1.58 billion Swiss francs, down 2.1 percent from
last year's 1.61 billion francs. The results reflected negative currency effect
of 8.6 percent.

Organic sales growth was 7.1 percent in the quarter, at the top end of guidance,
with improved performance in all regions.

Organically, Testing & Inspection sales grew 7.1 percent to 1.41 billion francs.
Business Assurance sales also increased 7.6 percent.

Looking ahead for fiscal 2024, SGS continues to expect mid to high single-digit
organic growth and improvement in adjusted operating income margin on sales.

Over the medium term, the company noted that its Strategy 2027 will shift gears
towards growth of the top and bottom line. Over the next four years, the company
continues to expect organic sales growth of 5 percent to 7 percent annually and
significant improvement of at least 1.5 percentage points in adjusted operating
income margin on sales by 2027.

Cash conversion is expected to exceed 50 percent by 2027.

Geraldine Picaud, CEO, said, 'We have started to execute Strategy 2027 to firm
up this growth momentum, streamline the organization and generate a strong
financial performance. I am confident that with the energy and passion of our
experienced teams across the globe, we will deliver on our promises.'



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