Homann Holzwerkstoffe GmbH published its consolidated financial statements for the financial year 2021. In spite of a challenging market environment, the company was once again able to continue its profitable growth. Revenues increased by a noticeable 27% to Euro 334.9 million. At Euro 82.7 million, Homann Holzwerkstoffe’s operating EBITDA again reached a record level and were up by 67% on the financial year 2020 (Euro 49.4 million). The EBITDA margin, i.e. EBITDA as a percentage of total output, thus rose by over 5 percentage points to 24.6%.
The Group’s consolidated net income amounted to Euro 48.7 million (previous year: Euro 19.1 million). Consequently, equity picked up noticeably from Euro 57.9 million on the 2020 reporting date to Euro 107.3 million on 31 December 2021. Although total assets increased sharply, the equity ratio improved to 28.6% (previous year: 18.7%). At Euro 87.9 million, operating cash flow more than doubled from the previous year’s Euro 43.3 million.
“With this good overall result, we continued our success story also in 2021,” says Fritz Homann, Managing Director of Homann Holzwerkstoffe GmbH. “This is essentially attributable to the Covid-19 pandemic and the resulting change in purchasing and consumer behaviour, which, in turn, is due to the fact that people spent more time at home both professionally and privately and bought furniture to make their surroundings more attractive.”
Meanwhile, Homann Holzwerkstoffe is continuing its large-scale investment in Lithuania. Production at the new site near the capital of Vilinius is expected to commence next winter. In its forecast for the financial year 2022, management remains cautiously optimistic and projects growing revenues and stable EBITDA.
Headquartered in Munich, Homann Holzwerkstoffe GmbH is a leading supplier of thin, high-quality finished medium-density and high-density fibreboards (MDF/HDF).
