DGAP-News: HOMANN HOLZWERKSTOFFE GmbH: HOMANN HOLZWERKSTOFFE GmbH Reports Revenue Increase in First Half of 2013
(firmenpresse) - DGAP-News: HOMANN HOLZWERKSTOFFE GmbH / Key word(s): Half Year
Results/Half Year Results
HOMANN HOLZWERKSTOFFE GmbH: HOMANN HOLZWERKSTOFFE GmbH Reports Revenue
Increase in First Half of 2013
27.09.2013 / 13:18
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PRESS RELEASE
HOMANN HOLZWERKSTOFFE GmbH Reports Revenue Increase in First Half of 2013
- Further investments in company growth
- Ongoing strengthening of the profitability
Munich/Herzberg am Harz, 27 September 2013 - HOMANN HOLZWERKSTOFFE GmbH, a
leading European provider of thin, refined fibreboard panels for the
furniture, door, coating and automotive industry, reports a satisfying
performance despite the difficult market environment, which continues to be
characterised by intense competition and extremely high wood prices in
Germany. In the first half of 2013, the expansion of the downstream
facility at the Polish production sites Krosno and Karlino progressed by
means of significant investments. The consistent exploitation of the entire
value chain enables the Company to further improve its profitability in the
future and to be less susceptible to price fluctuations. By consistently
specialising in highly refined thin MDF/HDF, high end-bonded, extremely
dense wood boards, the Company is reinforcing its market position, which
will enable further international expansion in the years to come.
Owing to the investment in Homanit Krosno, which had been acquired in 2012,
the Group revenue went up to EUR 95.1 million, a year-on-year increase of
EUR 10.4 million. Compared to the prior year, earnings before interest,
taxes, depreciation and amortisation (EBITDA) were lower and amounted to
EUR 3.2 million, compared to EUR 42.1 million in 2012, which included the
one-off EUR 30.5 million from the sale of the shares from the former joint
venture Homapal to the Formica Group. Adjusted for currency effects, most
of which did not affect the liquidity, and the extremely high increase in
wood and biomass prices in Germany in the reporting period, EBITDA amounted
to EUR 8.6 million compared to EUR 10.0 million in 2012, the difference
being largely attributable to the as yet incomplete integration of Homanit
Krosno. As a result of the one-off effect from the sale of the shares from
the former joint venture Homapal to the Formica Group and the integration
of Homanit Krosno, the net profit dropped from EUR 30.0 million to minus
EUR 5.0 million. Due to the result, the equity ratio also dropped slightly
to 14.3 per cent on 30 June 2013, compared to 17.5 per cent on 31 December
2012.
Fritz Homann, Director of HOMANN HOLZWERKSTOFFE GmbH: 'In the first half of
2013, we further continued with the integration of Homanit Krosno. The
on-going incorporation of this plant and the unusually steep increase in
wood prices in Germany are reflected in our figures. The development of the
two finishing centres in Poland makes the Group less susceptible to raw
material price fluctuations. The gradual reduction of labour-intensive
finishing process in Germany will allow us to effectively improve our
profitability in the coming years.' Up until the end of the
reporting period, the HOMANN HOLZWERKSTOFFE Group had invested EUR 8.7
million in all three plants. Apart from the two Polish plants, the
facilities in Losheim, Germany, also saw further modernisation as well as
investment in a new plant for wood fibre processing and additional
warehouses.
On the procurement side, which is significant to the operational income
development, the persistent bad weather in the first quarter of 2013 and a
shortage of round timber in Germany led to a major increase in purchasing
prices, which can only be passed on to the customers from September 2013.
This will have a positive effect on the EBITDA for 2013 as a whole. As far
as the use of glue - the second important raw material besides wood - is
concerned, HOMANN HOLZWERKSTOFFE's investment in new dry gluing systems
will enable a substantial reduction of its glue costs in the future.
In the reporting period, the corporate bonds placed with institutional
investors were successfully increased by EUR 25 million. The Company
received the funds only after the end of the reporting period. As was the
case with the first tranche, the proceeds will be invested in the Company's
future growth. 'Apart from further strengthening our three sites, we also
remain open to possible acquisitions of companies or production sites',
explains Fritz Homann.
See also: www.homann-holzwerkstoffe.de
Further Information:
Stefanie Schusser
Schusser Communications
Tel: +49 89 32657590
E-mail: Stefanie.Schusser(at)schusser-communications.de
or
Martina Siebe
Homann Holzwerkstoffe
Tel: +49 89 99886911
E-mail: ms(at)homanit.org
End of Corporate News
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Datum: 27.09.2013 - 13:18 Uhr
Sprache: Deutsch
News-ID 300857
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