Consolidated net turnover of the Bauwerk Boen Group declined by12.3% to CHF 128.3 million ($141.3 million) in the 1H 2020, compared to CHF 146.2 million ($161 million) in the 1H 2019. Adjusted for significant negative exchange rate impacts when applying the previous year's exchange rate, the reduction amounted to -7.5%. Thanks to the improvements in efficiency in production which were implemented in recent years and further cost-saving measures that were immediately introduced, the key earning figures were improved despite the decline in sales. In the 1H 2020 the operating result EBITDA amounted to CHF 13.4 million ($14.7 million) which results in an EBITDA margin of 10.5%.
The international pandemic situation in the 1H 2020 was inconsistent, as individual markets were completely in lockdown, while construction activity was still possible in others. Overall, the volume sold in the 1H 2020 fell by around 10% to C4.1 million square meters. Despite the decline in volume and sales, the group managed to maintain or even improve margins. Further improvements in productivity and efficiencies in the factories, relaxation in the material procurement markets, significant saving measures in other operating expenses and, last but not least, compensation contributions for short-time-work contributed significantly to this positive development. The operating result after depreciation EBIT amounted to CHF 7.6 million ($18.4 million), or 5.9% of net sales, compared to CHF 8.1 million ($8.9 million), or 5.5% EBIT margin in the prior-year.
Bauwerk Boen Group is Europe’s leading developer, manufacturer and supplier of parquet flooring in the premium segment as well as the second-largest market participant in wood flooring.
