Strong product demand, record quantities produced, but also price increases necessitated by cost pressure bring the wood-based materials specialist a significant increase in turnover.
The EGGER Group is closing its 2021/2022 financial year in exceptionally challenging times. The ongoing COVID-19 pandemic and the dramatic developments in Ukraine are having a massive impact on the global energy and raw materials markets. Product demand was high and is reflected in the financial figures.
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, on the one hand, we have coped well with the challenges of the still ongoing pandemic and, at the same time, we have made very good use of the opportunities that have arisen in our industry," says Thomas Leissing, Chief Financial Officer and speaker of the Group Management.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 of companies achieved a production peak. "We owe the positive development in this challenging environment above all to our approximately 10,800 employees," said the Group Management in unison.
The situation on the global raw materials markets is extremely challenging. EGGER is also experiencing a huge increase in energy and transport costs. The increasing demand for wood, the most important raw material for the wood-based materials producer, is leading to additional cost pressure.
Subdued Expectations for the 2022/2023 Financial Year
The crisis in Ukraine, volatile commodity markets, uncertain energy supplies, the ongoing COVID-19 pandemic and rising inflation are factors that dampen the EGGER Group's earnings expectations for the coming financial year.Even though the outlook is currently gloomy, EGGER is sticking to its company strategy and continuing its stable growth under its own steam.
New Appointment to the EGGER Group Management
In the current financial year, the top management body of the wood-based materials manufacturer is reshaping itself: Walter Schiegl stepped down from the Group Management after more than 20 years and will take over the Supervisory Board mandate from Michael Egger starting in autumn, thus helping to shape the strategic orientation of the EGGER Group in the future as well. Michael Egger celebrates his 75th birthday at the end of August and will then retire from the strategic board. The position of Walter Schiegl as responsible Chief Technology Officer is taken over by Hannes Mitterweissacher. Frank Bölling complements the Group Management and is responsible for the supply chain management. EGGER is thus responding to the potential and developments in the area of internal and external supply chain. Likewise, after many years, a representative of the Egger family will once again be active in the operational management of the EGGER Group: Michael Egger Jr. will take over the marketing/sales agenda from Ulrich Bühler, who will accompany Michael Egger Jr. with his many years of experience and expertise.Together with Thomas Leissing and Michael Egger Jr., Hannes Mitterweissacher and Frank Bölling thus form the new management team of the EGGER Group.
The EGGER Annual Financial Report 2021/2022 is online!
