Thursday, December 23, 2021
Egger group has closed the first half of 2021/2022 financial year with consolidated sales of EUR 1.98 billion. The special economic situation in the construction and furniture sector as well as the capacity increases of new plants contributed significantly to the result. However, the situation on the raw material markets was challenging. Despite continued uncertainties due to the corona pandemic, the overall outlook for the second half of the 2021/2022 financial year is positive.
The corona pandemic and its effects on the economy and society were also decisive factors for the Egger Group in the first half of the 2021/2022 financial year. The special situation in which the industry has found itself since summer 2020 remained in place. The strong increase in demand continued.
Thomas Leissing, Egger group Management Finance/Administration/Logistics: “The so-called cocooning effect, i.e., the increased consumer investment in one’s own home, as well as the uninterrupted new construction activities in almost all regions of the world are the main drivers behind the high demand for our products. We are pleased that we have been able to make good use of the opportunities offered by this market setting. At the same time, the pandemic also presents us with significant challenges, especially in the area of raw material supply.”
During the first half-year 2021/2022 the Egger group was able to generate sales of EUR 1,978.1 million (+36.5% compared to the first half-year 2020/2021) and an EBITDA of EUR 478.6 million (+62.9% compared to the previous year). This result reflects the high level of demand. The new Egger plants in Biskupiec (PL), and in Lexington, NC (US), contributed significantly to the increase in sales and results. In addition, the product mix was optimised in all plants. The building products product area in particular recorded disproportionate growth.
Since the beginning of the year, the supply situation on the global raw materials markets has become increasingly tense – a dynamic that has intensified considerably in recent months. This applies in particular to the chemical raw materials needed for wood-based materials, edging and surface production.
Despite continued uncertainties due to the corona pandemic, the overall outlook for the second half of the 2021/2022 financial year is positive.
Tags: Corona pandemic, egger, Thomas Leissing, woodworking and manufacturing, woodworking event, woodworking industry
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