Egger’s turnover increases by 2.3% in first semester 2014/2015
27 January 2015Austria’s Egger Group has announced results for the first half of the 2014-2015 fiscal year (May 1, 2014 - April 30, 2015).
The company reported an increase in turnover despite a difficult market situation at the conclusion of the half-year balance of October 31, 2014.
In comparison to the same period of the previous year, turnover increased by 2.3% to €1,163m (previous year: €1,137m).
In the period EBITDA increased to €172.6m and Egger's investments reached €113.6m (previous year: €102.2m).
By business units, the decorative products department, which sells products for furniture and interior design, reached the largest turnover growth with 3.7%.
In retail products (flooring), the turnover decreased by 7.9% against the same period of the previous year. The company explained this contraction as a result of a very challenging economic context and of the company's conscious decision to forgo unprofitable volume business.
The turnover of OSB and timber for Egger building products also proved to be declining (-5.4%). Decreasing demand and the price pressure for OSB marked these markets.
