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Bauwerk Boen’s financial results still under pressure

09.10.2019 − 

The key performance figures of Bauwerk Boen Group continued to decay in the first half-year. EBITDA fell by 16.4 % to 14.4m CHF. The EBITDA margin fell to 9.8 %. Adjusted for non-recurring items, connected mainly with efficiency-enhancing measures at the production facilities in Kietaviskes, Lithuania, and Durdevac, Croatia, as well as currency effects, EBITDA amounted to 15.2m CHF and the corresponding margin to 10.3 %. The company registered a reduction of 28.8 % in EBIT to 8.1m CHF; the margin calculated on the basis of this decreased to 5.5 %. Adjusted EBIT was 8.8m CHF and the adjusted EBIT margin was reduced to 6.0 %. The pre-tax result fell by 35.7 % to 5.4m CHF with a similarly heavy loss in net profit to 4.6m CHF. Bauwerk Boen’s earnings position deteriorated during the second half-year 2018. In the second half of the year, however, the company had still succeeded in achieving low double-figure percentage growth rates.

Development in consolidated net sales revenue, which had still been positive a year earlier, fell by 3.0 % in the period under review to 146.2m CHF. Adjusted for the effects of exchange rates, the company recorded a reduction of -1.6 %. In total, Bauwerk Boen sold 4.5m m² of parquet of the two “Bauwerk” and “Boen” brands in the first half-year, falling roughly 2 % of last year’s volume.

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