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Masonite: turnover decline in Europe down to 2.2%

18.12.2020 − 

In the third quarter, US door group Masonite International generated total turnover of US$587.7m. The increase of 6.4% vis à vis the comparative period of the preceding year was facilitated by sustained positive development in the division North America residential (+12.5% to US$420.5m). According to Masonite, this was primarily attributable to the 12% increase in average prices. In contrast, the Europe (-2.2% to US$74.3m) and architectural (-10.2% to US$86.7m) divisions suffered turnover declines, as was the case in the preceding quarter.

These latest declines in Europe, however, were significantly lower than in the first half year. Due to a corona-related decline in sales, Europe turnover plummeted by 63.1% to US$29.9m in the second quarter; turnover had already fallen significantly short of the preceding year’s figures in the first quarter (-16.1% to US$70.7m). Parallel to the turnover declines, results figures in the first half year had also declined. Accumulated over the first six months, the adjusted EBITDA of the Europe division remained 62.4% below the preceding year’s figure. Following a moderate decline at the beginning of the year (Q1: -3.0% to US$9.7m) a deficit was recorded in the second quarter (-US$0.9m).

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