Pfleiderer's 3Q revenue increased by 3.8% to Euro 347.3 million

Nov 24, 2009. /Lesprom Network/. Panels manufacturer Pfleiderer AG has reported a revival business in both western and eastern Europe during the 3Q. The Neumarkt-based manufacturer recorded 3Q earnings before interest, tax, depreciation and amortisation (EBITDA) of Euro 26.4 million, down from Euro 60.2 million a year ago, from Euro 347.3 million revenue (2008: Euro 436.4 million), as TTJ reported. EBITDA for the first nine months was Euro 105.5 million, down 41% on a year ago, with revenue standing at Euro 1.039 billion (2008: Euro 1.35 billion). A 3.8% revenue increase in the 3Q, compared with the previous quarter, was “stronger than usual at this time of year and indicates a general revival of demand”, said Pfleiderer. “At present, we cannot yet say with certainty how sustained this positive development of demand will be,” said CEO Hans Overdiek. “In recent months, production capacities totalling 1.2 million cubic metres have been closed in central Europe, so capacity utilisation has improved again. This opens up new scope for some price increases, with which we intend to offset the expected increases in raw material prices.” Pfleiderer said it had reached agreement with its lenders on key points concerning future financing. Pfleiderer Group is one of the worldwide leading manufacturers of engineered wood, surface finished products and laminate flooring.