Friday, July 29, 2022
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Despite the challenging environment EGGER Group recorded impressive business turnover. The strong demand for products, record quantities produced, but also price increases necessitated by cost pressures bring the wood-based materials specialist a significant increase in turnover in the 2021/2022 financial year.
“We are pleased with this significant increase in turnover, given the fact that we are experiencing difficult times. Demand for our products has been at a high level during the past business year. However, the geopolitical situation is challenging and we are monitoring the developments in the global energy and commodity markets, as well as those of the conflict in Ukraine,” says Thomas Leissing, Chief Financial Officer and Speaker of the Group Management, at the annual press conference at the headquarters in St. Johann in Tirol (AT).
EGGER reports a positive development of the key figures for the financial year 2021/2022: Group-wide sales of EUR 4,234.3 million (+37.4% compared to the previous year) and EBITDA of EUR 877.5 million (+41.0% compared to the previous year) were generated. The EBITDA margin is stable at 20.7% (previous year: 20.2%), and the shareholder’s equity ratio of 50.9% is above the previous year’s figure of 42.0%. “This increase in results shows that we have managed the challenges of the ongoing pandemic well, and at the same time made very good use of the opportunities that have arisen in our industry”. This increase in earnings with a stable EBITDA margin is mainly due to the positive market environment for sawn and building products, the reduction of start-up losses at the plant in Lexington, NC (US),and optimised product and customer mix.
EGGER has produced record quantities in recent months, serving strong customer demand. With 10.5 million m³ of wood-based materials and timber, the group achieved a production record.Based on the 2020/21 fiscal year, this is an increase of 9.4% or 900,000 m³.
DecorativeProducts (products for furniture and interior design) achieved the largest share of turnover with 76.9% and, at EUR 3,473.4 million, is +36.6% above the previous year. All regions, West, Central, East and Americas, recorded increased sales.
At EUR 506.9 million, the FlooringProducts Division was up +13.4% on the previous year. The increase in turnover is largely due to cost-related price increases.
The BuildingProducts Division closes the 2021/2022 business year with EUR 534.7 million (+62.7%). EGGER’s own sawmill in Brilon (DE) played a major role in the growth in sales, as the prices for timber, including in the American region, developed significantly.
Tags: EGGER Group, wood, wood and panel, woodworking and manufacturing, woodworking and timber processing, woodworking industry, woodworking machinery
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