In the fourth quarter, Masonite International increased its turnover by 16.4% to US$618.5m compared to the corresponding period in the preceding year. For the first time in a considerable period, the Europe division also contributed to this growth, with turnover of US$83.2m. In the preceding three quarters, turnover in the Europe division had developed along negative lines. The division’s adjusted EBITDA rose by 37.2% to US$16.7m (12.2m) and the corresponding margin increased to 20.1%. The result thus improved further, after an increase of 41.1% had already been recorded in the third quarter. In the first two quarters, by contrast, adjusted EBITDA had declined significantly.
As in the first three quarters, Masonite recorded renewed increases in the division North America residential. With an increase of 26.2% to US$452.6m, turnover growth accelerated once again. The same applies to adjusted EBITDA, which rose by 62.2% to US$87.5m compared to the corresponding period in the preceding year. The acquisition of a door factory from Lowe’s was concluded according to schedule in the fourth quarter. Turnover in the architectural division, in which North American commercial orders are consolidated, slackened off again by 10.1% to US$77.3m. The division’s adjusted EBITDA plummeted by 83.9% to US$1.0m.
