EGGER profits rise 15% to €262 million

Aug 10, 2012. /Lesprom Network/. Panels giant EGGER has posted a 15% rise in annual earnings before interest, tax, depreciation and amortization to €262 million, as the company said in the press release received by Lesprom Network. Sales at the Austria-based group grew 11% to €1.9 billion. The company, which is celebrating its 50th anniversary, said the acquisition and expansion of the Russian particleboard plant in Gagarin had contributed “disproportionately” to the increase in operating profits. Three-quarters of total sales were decorative wood products. Sales in the furniture and interior design division grew 16% to €1.57 billion. “Compared with last year we have expanded our market share in this segment in a difficult environment,” said Ulrich Bühler, EGGER group executive responsible for sales and marketing. The building products division, which incorporates lumber and OSB, saw sales fall to €167 million (2011: €186 million). The retail products division, which focuses on flooring, recorded sales of €348 million (2011: €329 million). Overall, 46% of buyers of EGGER products came from the office, kitchen and household furniture industry, with 45% from retailers, craftsmen, architects and hardware stores and 9% from the DIY trade. Egger said to two major new collections launched in 2012 – Zoom and Floorline – had been successful. The company expects to see full production utilisation for the fiscal year 2012/13.