Bauwerk Boen: Sales decline in second half of year

During the second half of 2016, business slowed at Swiss Bauwerk Boen Group. While sales volume of the two brands Bauwerk Parkett and Boen had risen in the first half of the year by 5.6%, the second six months showed decline. Cumulative figures for the whole year indicated a slight increase in sales of 1.2% to 9.5m m². In terms of turnover, the company achieved growth in 2016 of 4.7% to SFR279.4m. After adjustment for positive currency-exchange effects, net turnover reached SFR277.4m, representing year-on-year improvement of 4%.

In Germany, one of Bauwerk Boen's core markets, business showed an above-average positive trend, with the group showing growth of roughly 5% in each of turnover and sales volume. The company also claims to have achieved growth in Scandinavia, and highlighted the Norwegian market, where roughly 3% growth was reached in both turnover and results despite the generally difficult market environment. In Switzerland, turnover stagnated at a high level.
In terms of results, Bauwerk Boen suffered declines in some cases. These were primarily attributable to substantial cost increases in raw-material procurement triggered by scarcities in the sector of oak face layers, especially in the second half of the year. Overall, non-budgeted costs totalling SFR6m accrued, which were not fully compensated for by efficiency-enhancement measures. Against that backdrop, the EBITDA was down by 3.8% to SFR25.7m.

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