The operative result before interest, taxes, depreciation and amortisation (EBITDA) rose in the business year 2013 by 17% to Euro 104.4 million. This meant an improvement in the EBITDA margin from 9.4% to 11.2% of sales. This is primarily due to the different measures to increase efficiency and to cost savings achieved thanks to a leaner organisation (all figures are preliminary, not yet certified).
“In the first year following the reorganisation of our Group, Pfleiderer has developed well,” said Michael Wolff, Spokesperson of the Pfleiderer GmbH Management. “Through our clear positioning in continued, hard-fought markets, and through numerous measures to increase efficiency, we have sustainably improved the earnings position. We have won back our customers’ and business partners’ trust in Pfleiderer and made the Group fit for the future.”
The Core West business unit with Pfleiderer Holzwerkstoffe GmbH as the operative business unit achieved sales of Euro 608.9 million, 5.1% less than 2012, in an overall market that has shrunk yet again and was under significant price pressure. However, at the same time the company managed to increase the operative EBITDA by 5.1% to Euro 62.2 million. The integrated sales introduced at the beginning of 2013 for all brands and products, together with cross-location supply chain management and the restructured group of plants meant that the company was able to utilise sales potential with customers better, reduce delivery times and organise processes more efficiently.
The Core East business unit with the listed Pfleiderer Grajewo S.A. in Poland, in which Pfleiderer holds around 65% of the shares, increases sales in 2013 by around 2.1 %to Euro 349.1 million. The operative EBITDA increased significantly by 30.7% to Euro 39.6 million, above all as a consequence of more favourable material costs, higher capacity utilisation of the plants and general efficiency increases.
The balance sheet total of the Pfleiderer Group as of 31 December 2013 amounted to Euro 889.6 million. The equity ratio reached the sound value of 27.9%. The financial debts at the end of 2013 amounted to Euro 408.1 million.
Richard Mayer, Commercial Director of Pfleiderer GmbH: “Following the substantial debt relief, Pfleiderer now has a stable and healthy capital base and a marketable debt to equity ratio. We therefore have sufficient room for manoeuvre for the challenges of the market.”
Pfleiderer is one of the leading wood-based panel manufacturers in Europe.
