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Jeld-Wen now expects slight turnover decline in 2019

04.11.2019 − 

Jeld-Wen has again adjusted downwards its forecast for the 2019 financial year. As the third quarter also developed along negative lines, the group meanwhile anticipates a turnover decline of 2%. When the half-yearly figures were published in August, the group had still expected turnover to remain at the preceding year’s level. The group had originally forecast growth between as much as 1-5% and core growth of some 2% for 2019. With regard to the adjusted EBITDA margin, Jeld-Wen expects a decline of approximately 60 basis points.

The current forecast was announced within the scope of the publication of the preliminary figures for the third quarter on 10 October. According to these figures, turnover in the third quarter fell by 3.9% to some US$1.09bn. The adjusted EBITDA decreased to approximately US$110m. The North America and Australasia business divisions were particularly below expectations, whereas development for the Europe division is tending to be more positive. Jeld-Wen attributes the decline in figures to the weak demand for windows and doors in private housing construction.

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