EGGER : TURNOVER OF 1.19 BILLION + 10% EBITDA ON PREVIOUS YEAR
The EGGER Group, with headquarters in St. Johann in Tirol (Austria), has completed the first half of its financial year 2016/2017 (reference date the 31st October 2016) with a consolidated turnover of EUR 1.19 billion. With a stable turnover development, the EBITDA increased by 10.1% on the previous year to reach EUR 189.6 million. The EBITDA margin increased to 15.9% (previous year: 14.4%).
The EGGER Group Management is generally happy with its first half-year developments. "The general economic situation was very unstable in the last half-year. Nevertheless, as compared to the previous year, we were able to grow in almost all relevant geographic markets in our main product segment, Furniture and Interior Design, which represents 75% of our total turnover. The big exception is the UK, where uncertainty following the Brexit vote led to a devaluation of the currency," explains Thomas Leissing, Head of Finance/Administration/Logistics and spokesperson of the EGGER Group Management. The UK turnover increased by +4.8% in British Pounds, but the negative currency effects caused a turnover regress in Euros of - 9.2%. Conversely, the turnover in the decorative segment developed particularly well in Russia (+7.1%) and Romania (+7.8%), but also in markets such as Spain and Portugal (+8.0%) and overseas (Asia +19.4% and Japan +12.4%). We can also see positive developments in France, Italy, and particularly Austria. In EGGER's largest market, Germany, the development was stable as compared to the same period last year (+0.5%). For EGGER Retail Products (Flooring), the turnover for the same period last year also remained stable (-0.1%) despite a difficult market situation. The strategy to consciously forego unprofitable volume deals continues to be successful and will be implemented further during the second half of the financial year. The turnover development of OSB and timber in the EGGER Building Products Division also remained stable (+0.4%). The OSB products business continues to be marked by overcapacities in the market with corresponding price pressures. Nevertheless, several markets in Eastern Europe (Romania, Czech Republic and Slovakia) and overseas have developed very well. About EGGER The family company founded in 1961 employs around 8,000 people. At 17 plants across Europe, they produce an extensive product range of wood-based materials (chipboards, OSB, and MDF boards) as well as timber. EGGER has customers worldwide in the furniture industry, wood distribution, and DIY markets. EGGER products are found in countless areas of private and public life including: kitchens, bathrooms, bedrooms, offices, hotels and shops. EGGER is a full-range supplier for the furniture industry and interior design, wood construction and laminate flooring sectors. Per more information contact Ms Karin Mumelter, Communications & PR:
EGGER FRITZ GmbH Weinberndorf 20 A-6380 ST.JOHANN IN TIROL / Austria Ph. +43 50 600 10691 / Fax +43 600 90681 E-mail: email@example.com