Friday, August 2, 2024
The EGGER Group has released its financial results for the fiscal year 2023/2024, showcasing its resilience amidst a fragile economic environment. The company reported a Group-wide turnover of EUR 4.13 billion and an EBITDA of EUR 493.6 million, as it continues to drive forward its strategy of sustainable and healthy growth.
Key Strategic Developments
Despite the challenging market conditions, EGGER has successfully advanced significant strategic initiatives:
Expansion: The Group expanded its production capabilities by adding a 22nd plant in Markt Bibart, Germany.
Acquisitions: EGGER acquired a minority stake in Thai wood-based material manufacturer Panel Plus, enhancing its presence in the Asian market.
Climate Strategy: The Group established a pioneering climate strategy, committing to the Net Zero objective by 2050.
Financial Performance Highlights
Turnover: The Group’s turnover for the year was EUR 4,132.5 million, a 7.1% decrease compared to the previous year.
EBITDA: EBITDA stood at EUR 493.6 million, down 18.1% from the previous year.
EBITDA Margin: The EBITDA margin was 11.9%, compared to 13.5% in the prior year.
Equity Ratio: The equity ratio remained strong at 43.5%.
Sustainability Investments
EGGER’s commitment to sustainability was underscored by investments totaling EUR 568.6 million, an increase from EUR 540.6 million the previous year. These investments were distributed across all plants to secure the best industrial basis, expand capacities, and promote resource-saving closed cycles.
Cautious Outlook for FY 2024/2025
Looking ahead, EGGER maintains a cautious outlook for the 2024/2025 financial year due to ongoing economic uncertainties, price pressures, and geopolitical crises. However, the Group remains confident in its ability to navigate these challenges, supported by a solid financial base, a long-term sustainable strategy, and strong partnerships with customers and suppliers.
Thomas Leissing, Chief Financial Officer and Speaker of the Group Management, stated:
“We are not entirely satisfied with the results. At the same time, we are proud that we have been holding our own in this very difficult environment. We are clearly focused on the future and are delighted to have been able to initiate far-reaching strategic developments. Thanks to our very solid financial basis and long-term strategy, even considering the fragile market situation, we are taking steps towards growth, and are growing despite the market situation.”
All members of the EGGER Group Management expressed their gratitude to the employees, emphasizing their vital role in the company’s success. They highlighted the ability of the global team to turn crises into opportunities, contributing significantly to EGGER’s resilience and growth.
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