Homann Holzwerkstoffe publishes consolidated financial statements for 2022: Strong revenue growth and clearly positive result

Homann Holzwerkstoffe publishes consolidated financial statements for 2022: Strong revenue growth and clearly positive result

• Revenues up by 17.9% to EUR 394.9 million (previous year: EUR 334.9 million)
• Adjusted operating EBITDA of EUR 75 million; EBITDA margin of 18.3%
• Forecast for 2023: Continued revenue growth and moderate decline in earnings due to start-up costs in Lithuania
• Michael Albert appointed as new Managing Director of Homanit Holding and CFO of the Group

Munich, April 28, 2023 – Homann Holzwerkstoffe GmbH, a leading European supplier of thin, refined wooden fibreboards for the furniture, doors and coatings industries, today published its consolidated financial statements for the financial year 2022. The company’s revenues increased by 17.9% to EUR 394.9 million from EUR 334.9 million in the same period of the previous year. The strong revenue growth was mainly driven by higher sales prices as a result of the sharp rise in input costs for wood, glue and energy since 2021, which represent the most significant part of the Group’s manufacturing costs.

At EUR 75.0 million, adjusted operating EBITDA was below the previous year’s level (EUR 82.7 million), but remained at a high level and exceeded management's expectations. The EBITDA margin stood at 18.3%, compared to 24.6% in the prior year period. The consolidated net income amounted to EUR 44.6 million (previous year: EUR 48.7 million).

Equity increased to EUR 150.0 million in the reporting period, in particular due to the clearly positive consolidated net income (December 31, 2021: EUR 107.3 million). This sent the equity ratio rising to 30.3% – in spite of greatly increased total assets – compared to 28.6% at the end of the financial year 2021.

“We are satisfied with our performance in 2022,” said Fritz Homann, Managing Director of Homann Holzwerkstoffe GmbH. “Our output markets remained robust in spite of the macroeconomic turmoil. We reached important milestones in our expansion strategy, including the joint venture to enter the markets of North Africa and the progress made in the construction of our new plant in Lithuania, which is currently scheduled to start operations in the third quarter of 2023.”

For the financial year 2023 as a whole, management projects slightly rising revenues in view of the continued high price level but expects EBITDA to decline, not least due to start-up costs to be incurred for the plant in Lithuania.

The annual report for 2022 is available at https://www.homann-holzwerkstoffe.de/en/investor-relations/press-releases-documents/financial-reports/.

Changes on the management team of Homann Holzwerkstoffe Group

Homann Holzwerkstoffe Group also announces a change in the management team. Helmut Scheel, Managing Director and CFO of the Group, will leave the company with effect from April 30, 2023. He will be succeeded by Michael Albert, who has served as Managing Director of Homanit Holding since February.

“We are pleased to welcome Mr Albert, an experienced financial expert, as a new member of the management team,” said Fritz Homann, Managing Director of Homann Holzwerkstoffe GmbH.

About Homan Holzwerkstoffe

Headquartered in Munich, Homan Holzwerkstoffe GmbH is a leading supplier of thin, high-quality finished medium-density and high-density fibreboards (MDF/HDF). With production plants in Losheim am See, Germany, as well as Karlino and Krosno/Oder, Poland, the Group serves the global furniture, doors and coatings industries, with the main focus on the European markets. The family-owned company looks back on a long tradition and has been established on the capital market since 2012. Its 2021/2026 corporate bond (ISIN: DE000A3H2V19; WKN: A3H2V1) is listed on the Frankfurt Stock Exchange.

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Press/Investor Relations:
IR.on AG
Anna-Lena Mayer, Eric Effey
T +49 221 9140 970
homann@ir-on.com

Contact:
Homann Holzwerkstoffe GmbH
Teresa Baumgärtner
T +49 (0)89 99 88 69 23
tb@homanit.org