23 November, 20:44
During the first three quarters of 2017 Pfleiderer Group generated a solid financial performance. Consolidated revenue during the first nine months of the year amounted to Euro 750.9 million, as compared to Euro 726.6 million in the same period of the previous year, which represents a 3.3% increase.
EBITDA amounted to Euro 96.2 million and was higher by 24.6%. EBITDA margin increased to 12.8%. The results were positively influenced by significant efficiency improvements, continued good sales performance and the expected significant reduction in non-sustainable items. At the same time the Group continues to face massive increases in the prices of raw materials over last year.
Tom K. Schäbinger, CEO Pfleiderer Group, said: “In 9 months of 2017 we recorded solid set of financial results, which however were below our expectations. In these period management initiatives were offset by tough growths in procurement costs. However, I am convinced that cost issues are successfully addressed and our efforts taken in recent months are reflected in the positive outlook for next periods. We have strong foundations for further growth – the new management team was finally established and we successfully launched our development strategy. Its implementation is supposed to translate into a stable increase of the Group's value for its shareholders in next quarters.”
Pfleiderer Group is a leading European producer of fiber-based products specializing in the production of materials in the furniture industry, the interior industry and construction.