Swiss Krono Group, based in Lucerne, Switzerland, increased its consolidated gross revenue by more than 11% to reach CHF 2 billion ($$ 2 billion) in the financial year ended September 30, 2018. This represents more than 7% revenue growth in local currency compared with the previous year, as the company says in the press release received by Lesprom Network.
The Group managed an above-average increase in operating profit, clearly exceeding its own targets. Martin Brettenthaler, CEO and chair of the executive committee, comments: “It is extremely gratifying that Swiss Krono Group managed to take a positive market environment and achieve even more than expected.” The Group-wide production volume of 6 million cubic meters of wood materials represents a new peak.
A buoyant construction industry brought more than 18% revenue growth (in local currency) for OSB panels in the Building Materials division (revenue share 32%). The Interiors division (furniture panels, revenue share 27%) also generated, gratifyingly, 11% growth, thanks to the launch of two new chipboard lines in the Group’s Swiss and Russian plants.
Given the stagnant nature of the global market for laminate flooring, revenues in the Flooring division (revenue share 41%) were more or less unchanged from the previous year. In this challenging market environment, Swiss Krono retained a European market share of around 30%, confirming its position as the world’s largest laminate flooring manufacturer.
Swiss Krono Group is one of the world's leading manufacturers of engineered wood.
