Double-figure decline in Kimball’s sales revenue

Sales revenue generated by Kimball International in the third quarter of its business year 2020/2021 fell sharply by 22 % to US$138.7m, the fourth successive quarter with a marked double-figure reduction. Adjusted for Poppin, taken over in December, sales revenue was 37.3 % lower than in the same period of last year at US$129.8m. In the “Health” and “Hospitality” divisions, sales revenue generated in the third quarter was 19 % down in both instances to US$24.6m and US$35.2m, respectively. In the “Workplace” segment, sales revenue was almost a quarter lower at US$78.9m.

Cumulated over the first nine months, total sales revenue was down by 26 % to US$422.8m. US$261.6m (US$344.4m) of this was accounted for by Workplace (-24 %), US$89.0m by Hospitality (-36 %), and US$72.2m by Health (-17.0 %).
The key performance figure slipped into the negative zone in the third quarter. The operating result amounted to -US$7.7m and the net loss to -US$4.5m. As such, an operating loss of -US$3.3m (+US$43.4m) was recorded for the nine-month period. A small net profit was achieved to the tune of US$19,000 (+US$31.9m). On the basis of the present orders situation, Kimball is working from the assumption that sales revenue for the current fourth quarter is going to be similar to the third-quarter figure.

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