GF grew double-digit in 2018 to reach €4.05 billion. Free of acquisitions, divestments and currency effects, growth amounted to 7 per cent, well above the 2020 strategy objectives of 3-5 per cent per annum. The main pillar of organic growth has been GF Piping Systems, recording a high 8 per cent organic growth rate for their largest division. The Corporation increased sales in all three regions – Europe, Asia and America with America growing the most. After a very strong first semester, markets were affected during the second half-year by the ongoing trade tensions, which led to a softening of the GF growth rate.

GF Casting Solutions (formerly GF Automotive) also increased its sales in a significant manner to €1.49 billion, up 14 per cent. The major growth drivers were the acquisitions of Precicast Industrial Holding SA (Switzerland) in April 2018 and of Eucasting Ro SRL (Romania) in November 2017. Organic growth stood at 5 per cent. After a solid first half-year, the automotive industry in Europe suffered during the second half from new emission registration rules leading main car manufacturers to temporarily reduce production. The division's operating result stood at €76.3 million, compared to €82.5 million in 2017. On one hand, the ramp-up of the new light metal foundry in USA had, as expected, a strong negative impact on profit and on the other hand, plant load suffered at year end from the reduction of customer call-offs.

The operational result (EBIT) increased by 9 per cent to €339.2 million. Both GF Piping Systems and GF Machining Solutions are the drivers of this increase. The return on sales (ROS) stood at 8.4 per cent, well in line with its 8-9 per cent objective range. The return on invested capital (ROIC) further increased to 22.4 per cent, compared to 20.3 per cent in 2017, marginally surpassing the organisation’s 18-22 per cent objective range. The number of employees at year end decreased to 15,027, compared to 15,835 per end of 2017 as a consequence of the divestments of two iron foundries at GF Casting Solutions, whereas the acquisition of Precicast Industrial Holding SA (Switzerland) in April 2018 added 812 employees to the Corporation.