Following double-digit decreases in the four preceding quarters, the turnover decline of Kimball International tapered off somewhat in the fourth quarter of the 2020/2021 financial year. With total turnover of US$146.2m, the company still generated almost US$10m - or 6% - less turnover than in the comparative period of the preceding year, in which the first effects of the corona crisis had already become apparent in the form of a 20% decline.
The decline in the current reporting period is primarily attributable to poor development in the hospitality business division (-35% to US$28.4m). In the health segment, by contrast, turnover rose by 16% to US$25.1m. The workplace division also achieved growth, up 2% to US$92.7m. However, the December 2020 acquisition of office furniture manufacturer Poppin had a positive effect in this connection, contributing US$12.5m to turnover.
Kimball closed the entire 2020/2021 financial year with a turnover decline of 22% to US$569.0m. Of this figure, US$354.3m was attributable to the workplace segment (-19%), US$117.4m to hospitality (-36%) and US$97.3m to health (-11%).