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Jeld-Wen Europe develops most positively

17.12.2020 − 

In the third quarter, the Europe business division of Jeld-Wen Holding recorded turnover growth of 8.1% to US$311.0m, developing much more positively than the segments of North America (+0.6% to US$662.7m) and Australasia (-4.5% to US$139.2m). However, this increase was primarily due to exchange rate effects, which provided a 5% bolster to turnover. The effect, achieved through higher sales volumes and changes to the product mix, was reported at +2%; average sales prices rose by 1%. As a result, the Europe business division achieved core growth of 3%. Core growth in the North America segment amounted to 1% (price +6%, volume/mix -5%) and in Australasia -8% (price -1%, volume/mix -8%). Australasia additionally recorded negative currency influences of -3%.

Due to the significant price increases, results figures in the North America segment showed the strongest development. The EBITDA in this segment increased by 38.6% to US$92.4m, resulting in a margin of 13.9%. For Europe, growth of 32.4% to US$40.0m was recorded; the margin thus increased at a slightly lower rate to 12.9%. In the Australasia segment, by contrast, adjusted EBITDA decreased by 9.1% to US$18.5m, meaning the margin, at 13.3%, remained slightly below the preceding year’s figure.

Group turnover in the third quarter increased by 1.9% vis à vis the preceding year to US$1.113bn. The effect on turnover from higher average prices, reported to be at +3%, was offset by negative influences from sales volumes and product mix (-3%). Jeld-Wen, however, also benefited within the group from favourable development in exchange rates (+2%). Adjusted EBITDA growth was significantly more pronounced, increasing by 20.0% to US$130.7m; the corresponding margin rose to 11.7%.

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