In the first six months of 2023, Homann Holzwerkstoffe GmbH revenues decreased by 9.0% from Euro 213.0 million in the same period of the previous year to Euro 193.8 million. In addition to slightly lower sales volumes, this was mainly due to price pressure resulting from lower demand.
The Group reported EBITDA of Euro 36.9 million (prior year period: Euro 46.1 million), while EBITDA adjusted for one-time effects from exchange rate fluctuations amounted to Euro 34.8 million (prior year period: Euro 45.7 million).
Adjusted operating EBITDA declined to Euro 34.8 million compared to the same period of the previous year (H1 2022: Euro 45.7 million), but exceeded the company’s plans, demonstrating the high resilience of the business model in a challenging market environment. At 17.8%, the EBITDA margin was slightly below the prior year level (H1 2022: 20.8%). Consolidated net income was clearly positive at Euro 18.4 million (H1 2022: Euro 30.3 million).
Equity increased further to Euro 175.6 million in the reporting period (31 December 2022: Euro 150.0 million) due to the clearly positive consolidated result for the first half of the year as well as the reduction of the negative difference in equity resulting from currency translation. As a result, the equity ratio rose to 31.2% compared to 30.4% at the end of the financial year 2022, despite the significant increase in total assets.
Fritz Homann, Managing Director of Homann Holzwerkstoffe GmbH: “In the first half of 2023, we have successfully held our ground in a declining market environment and almost achieved our revenue targets. We were largely able to avoid the steady decline in demand for MD/HD fibreboards, although we expect revenues for the second half and the full year to be lower than in the previous year. Despite the ongoing challenges, we are confident to meet or even exceed our earnings expectations for the full year.”
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.
