EQS-News

Homann Holzwerkstoffe publishes consolidated financial statements for 2023: Clearly positive result despite economic uncertainties

EQS-News: HOMANN HOLZWERKSTOFFE GmbH / Key word(s): Annual Report/Annual Results Homann Holzwerkstoffe publishes consolidated financial statements for 2023: Clearly positive result despite economic uncertainties 26.04.2024 / 09:00 CET/CEST The issuer is solely responsible for the content of this announcement. Homann Holzwerkstoffe publishes consolidated financial statements for 2023: Clearly positive result despite economic uncertainties

• Adjusted operating EBITDA on target at EUR 55.2 million, EBITDA margin: 15.7%
• Revenue declines by 10.2% to EUR 354.5 million (previous year: EUR 394.9 million) as a result of the challenging market environment due to price factors
• Forecast for 2024: Stable EBITDA development with slightly declining revenue

Munich, April 26, 2024 – 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 2023. Despite difficult market conditions, the company has mostly succeeded in achieving its own targets. The Homann Holzwerkstoffe Group's revenues amounted to EUR 354.5 million, which represents a decline of EUR 40.4 million compared to the record revenues of 2022. By contrast, sales volumes were very robust and only slightly below the previous year's level. As already forecast in the 2023 half-year report, this decline is primarily due to the challenging market environment, the continuing decline in demand for MDF/HDF boards and the associated price pressure.

At EUR 55.2 million, operating EBITDA adjusted for one-time effects from exchange rate fluctuations was down on the previous year (EUR 75.0 million), but was still within the management's expectations. The EBITDA margin amounted to 15.7% after 18.3% in the same period of the previous year. Consolidated net profit amounted to EUR 23.7 million (previous year: EUR 44.6 million).

Equity increased further to EUR 179.7 million in the reporting period (December 31, 2022: EUR 150.0 million), in particular due to the clearly positive consolidated net income for the year. Despite a significant increase in total assets, the equity ratio therefore rose to 31.1%, compared to 30.4% at the end of the financial year 2022.