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“In the last six months we were able to use the overall positive economic situation to our advantage. We utilised the capacities of our 18 modern plants and reached these satisfactory turnovers and results together with our now 9,600 employees”, says Thomas Leissing, Head of Finances / Administration / Logistics and spokesperson of the EGGER Group Management, on the day the balance sheet is published. The turnover of the EGGER Group for the first half-year 2018/19 was able to reach EUR 1,432.0 million and exceed by 8.2% the previous year’s level. The adjusted EBITDA increased by 4.0 % to EUR 231.4 million. The adjusted EBITDA margin of 16.2% (previous year: 16.8%) is still at a good level.
The largest turnover increase, with 76.5 %, was registered by EGGER in the furniture and interior design product segment (EGGER Decorative Products). The sales in this segment have grown in all relevant geographic markets as compared to the previous year, and reached a total of EUR 1,222.6 million (+3.8 %). When it comes to flooring (EGGER Flooring Products), the market situation remains difficult throughout Europe. Nevertheless, the volumes from the Gagarin (RU) plant increased, particularly on the Russian market. This means the division sales increased to EUR 225.3 million (4.7 %), which corresponds to 14.1% of the total turnover. EGGER reports for the first time in its half-year balance sheet the newly created segment “Others”. It includes Group functions, the sawmill in Brilon (DE), and currently the Argentinian plant in Concordia acquired in 2017. This segment has a turnover of EUR 151.1 million and currently contributes 9.4% to the Group turnover.
For the second half-year, EGGER is expecting a stable development in all European markets and Russia., and a virtually full utilisation of production capacities in all plants.
The EGGER half-year financial report for 2018/2019 is now available at www.egger.com/credit-relations.