The EGGER Group announced new records for 2016/2017. Group sales rose 1.7 per cent to EUR 2.38 Bn while EBITDA climbed 4 per cent, hitting EUR 363.7 Mn, reaching record levels for the company’s 56-year history.
The volume of raw boards (incl. timber) produced increased to 7.9 million m3 (+3 %), suggesting that all primary production capacities were fully utilised.
There is optimism in the coming years as positive sales developments were achieved and market share secured in almost all regions. Despite uncertainties following the Brexit vote, business in the UK over the past 12 months was positive. Diminished sales and earnings are due to a weaker British Pound. The unrest in Turkey also led to lower sales which, was largely compensated through exports.
The Group’s management announced significant investments in Poland, Argentina, and the USA, an amount totaling EUR 259.2 Mn (previous year: EUR 302.7 million).
Some upcoming projects are the acquisition of Masisa’s Concordia plant in Argentina, a first outside Europe; it will construct a new chipboard plant in Biskupiec, Poland, which will be completed in end 2018; another green field investment is the a wood-based materials plant in Lexington, North Carolina.
EGGER expects revenue and results to continue growing in the current business year.