For the first nine months of 2020, Homann Holzwerkstoffe Group continued its positive performance and achieved a clearly positive operating result on a par with the high level of the previous year, despite the impact of the coronavirus pandemic. Adjusted operating EBITDA amounted to Euro 35 million, compared to Euro 35.3 million in the first nine months of 2019.
Revenues came in at Euro 191 million (9M 2019: Euro 207.2 million), and the EBITDA margin improved to 18.3%. At Euro 14 million, consolidated net income was also clearly positive at the nine-month stage, compared to Euro 16 million in last year.
Equity capital increased by 20% from Euro 45.1 million at the end of 2019 to Euro 54.3 million as of September 30, 2020. As total assets also picked up, the equity ratio stood at 17.4%.
Fritz Homann, Managing Director of Homann Holzwerkstoffe GmbH, said: “Developments to date make us confident that we will achieve the targets set for 2020 despite the cuts the pandemic will bring. The second partial lockdown currently imposed in Germany and other European countries have not yet had any impact on our business, so we still expect to generate EBITDA at the 2019 level with about 10% lower revenues.”
Headquartered in Munich, Homan Holzwerkstoffe Group is a leading supplier of thin, high-quality finished medium-density and high-density fibreboards (MDF/HDF).
