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Masonite records further rise in adjusted EBITDA

14.11.2019 − 

In the third quarter Masonite International was able to increase its EBITDA adjusted to account for special effects by 7.1% to US$75.8. This key figure had also developed along positive lines in the preceding two quarters, whereas a decline was recorded for all other key figures. The company attributes the positive development of the adjusted EBITDA to factors such as an increase in sales prices as well as measures already implemented to increase productivity. Masonite is currently implementing its restructuring programme which provides for the closure of four US locations. The plant in Stockton, California has already been closed; production based here has been relocated to the Verdi location in Virginia. In addition to Stockton, the US production locations in Denmark (South Carolina), Largo (Florida) and Tampa (Florida) are also to be closed down by the end of the year. By contrast, new production facilities established in Tijuana, Mexico, have meanwhile been commissioned; the first interior doors left the plant in October.

In the third quarter group turnover decreased by 0.9% to US$552.2m. With regard to sales volumes, turnover dropped by as much as 4.3%, Currency effects also had a negative impact. The fact that overall turnover declined only slightly is due to price increases and acquisition effects. At US$46.0m, operating profit was just below last year’s figure. Declines in pre-tax profit, at US$20.4m, and net profit, at US$15.0m, were more significant.

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