Egger Group reports increase in turnover for 2018/19
However, adjusted EBITDA declined by 4.7% for the 2018/2019 financial year
Laminate and wood-based panel manufacturer Egger Group has reported a 5.6% rise in group turnover – reaching €2.8bn – for the 2018/2019 financial year at its annual press conference, which took place at the end of July at the company’s headquarters in St Johann in Tirol.
However, adjusted EBITDA for the company in the period declined by 4.7% – reaching €425m. “We have not achieved all of our ambitious goals, but we are on schedule with the implementation of our strategic growth plan,” said Egger finance, administration and logistics head Thomas Leissing.
Egger said the Western Europe market generated turnover of around €1.7bn – a rise of 4.7% – equating to 58.9% of sales revenues. It added that all of its divisions – including Egger Decorative Products West in France and the UK – recorded sales growth in 2018/2019.
Sales in the Decorative Products West division rose by 8.5% to reach €714m. “Although weaker economic development has been noticeable in some of our markets in recent months, our outlook for the 2019/2020 financial year is positive,” said Leissing.
“With our competitive industrial base, we will be able to build on our current results. In addition, we will launch our new Egger Decorative Collection 2020-22 in the market at the turn of the year, continuing the great success of the first edition of this collection.
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