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Bauwerk Group improves results despite turnover loss

10.05.2021 − 

In the 2020 financial year, Bauwerk Group recorded a turnover decline of 7.1% to CHF261.4m. Adjusted to account for currency fluctuations, turnover was 3.5% below the previous year's figure. The parquet manufacturer - which previously operated under Bauwerk Boen and changed the company name as of 1 September - attributes the decline mainly to the corona crisis. Overall, the volume of parquet sold under the Bauwerk and Boen brands decreased by around 6% to 8.2m m². In comparison with the first half of the year, however, the company was able to partly offset the decline during the second half of the year. During the first half of the year, the turnover decline had still amounted to 12.3% and 7.5% after adjustments to account for currency fluctuations, and sales volumes had decreased by 10%.

Despite the negative development concerning volumes and turnover, the Bauwerk Group re-corded significant increases in some of its results figures. This is attributed to progress made in the areas of material efficiency and productivity, as well as cost savings in connection with the pandemic. The EBITDA increased by 5.3% to CHF31.2m, and the EBIT by as much as 10.5% to CHF19.5m. Consequently, the EBITDA margin rose to 11.9% and the EBIT margin to 7.4%. In the case of pre-tax profit, an increase of 8.6% to CHF13.7m was achieved. Concerning net profit, however, a decline of 8.8% to CHF11.8m was recorded. A higher tax burden and unfavourable currency effects were given as reasons for this negative development.

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