Pfleiderer’s 3Q sees 24.6% rise in EBITDA but earnings still “below expectations”

The Pfleiderer Group, one of the world’s largest producers of wood-based panels, announced a 3.3 per cent revenue increase in the first nine months of the year amounting to EUR750.9 Mn, compared to the same period last year.

EBITDA rose 24.6 per cent, amounting to EUR96.2 Mn while EBITDA margin increased to 12.8 per cent.  The company said the positive results were due to improvements in operational efficiency, good sales performance and reduction in non-sustainable items.

However, CEO Tom K. Schäbinger said that the results were below expectations due to substantial increases in the price of raw material last year. He said, “I am convinced that the cost issue will be addressed. We have strong foundations for further growth – the new management team is finally established and we have now successfully launched our development strategy. Its implementation will translate into value for its shareholders in the next quarters.”