Pfleiderer's revenues amounted to Euro 489.3 million in the 1H 2016, slightly below the level posted in the same period last year (Euro 497.5 million). Revenues were negatively affected by lower sales prices and negative exchange rate effects amounting to Euro 14.6 million. However, Pfleiderer has grown in volume by Euro 9.2 million, as the company said in the press release received by Lesprom Network.
Sustainable EBITDA amounted to Euro 70.4 million and was 9.2% higher compared to the same period last year, due to volume growth, favorable material costs and synergies from the integration of ONE PFLEIDERER.
EBITDA margin stood at 14.4% (compared to 13% EBITDA margin in the first half of 2015) and overachieved expectations for the reporting period.
The current year is regarded as extraordinary concerning non-sustainable items, due to the expenses in H1 2016 for the re-IPO (Euro 10.2 million) and in connection with the integration of Eastern and Western businesses (Euro 4.2 million).
Net profit (after tax) amounted to Euro 4.1 million in the first half of 2016 compared to Euro 14 million in the same period of 2015.
“As expected and communicated to the market, the first half of the year was influenced by several non-sustainable issues related to expenditures on the re-IPO process and the full integration of the Eastern and Western segments. However, due to consistent strategic focus on the development of the sales of value-added products and the growing impact of synergies arising from the integration of the Pfleiderer organization, we have achieved very satisfying results in the first six months,” Michael Wolff, President and CEO of the Pfleiderer Group, said.
The Pfleiderer Grajewo Group is a leading European manufacturer of wood-based products, specializing in the production of materials in the furniture industry, the interior industry and construction.
