The EGGER Group recently announced it closes its 2022/2023 financial year with an increase in revenue and a decline in earnings. Company officials say they have maintained stable development despite an extremely volatile financial year, in which the business environment saw sharply rising interest rates, high inflation, declining new construction figures, highly volatile raw materials and energy markets, as well as geopolitical uncertainties.
“We are pleased that we were able to conclude another successful financial year, especially in the current challenging macroeconomic situation. The last few years have been exceptional for our industry. Demand for our products was extremely high during the pandemic thanks to the accompanying cocooning effect. We are now seeing a return of our key figures to a stable and sustainable level in the long term,” said Thomas Leissing, Chief Financial Officer and Speaker of the Group Management, at the annual press conference at the headquarters in St. Johann in Tirol, Austria.
With a group-wide turnover of $4.89 billion generated for 2022/2023 (+5.1% compared to the previous financial year), EGGER reports an increase in revenue, but a decline in earnings. EBITDA amounted to $657 million (-31.3% compared to the previous year) and the EBITDA margin was 13.5% (previous year 20.7%). Officials say that after the extraordinarily high demand experienced during the pandemic, the result is settling at a level that is sustainable in the long term. The equity ratio remains at a high level of 45.9%.
“Our stable financial basis as well as our approach of sustainable and responsible management, which we have always lived by, provide us with stability even in a challenging situation. We were also able to successfully reach a decisive growth milestone in the past financial year. Thanks to the majority shareholding in the Italian wood-based material manufacturer SAIB, the EGGER Group’s 21st plant is located in Caorso [Italy],” says Leissing.
EGGER implemented numerous investment projects that further underpin their effective and sustainable production, including acquisitions in the amount of $556.8 million (previous year: $320.1 million). The investment focus was on the areas of circular economy, renewable energy and optimised logistics as well as further refinement capacities.
Already, 65% of the wood used by EGGER comes from recycling or by-products of industrial wood processing steps, such as wood chips or sawdust. 70% of the energy used is obtained from renewable sources. The wood-based material manufacturer is pursuing the goal of increasing both shares even further in the future.
“As a manufacturing company, EGGER feels it has a responsibility to actively contribute to climate protection and aims to continuously reduce its own climate-impacting emissions. These ambitions will be clearly expressed in future investment projects,” says Frank Bölling, Chief Supply Chain Officer.
Visit www.egger.com for more information.