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Forte: increase in results despite particleboard losses

18.11.2019 − 

According to preliminary information, in the third quarter Fabryki Mebli Forte generated turnover of PLN264m and thus surpassed last year’s figure by 3.1%. According to in-company information, the negative trend on the particleboard markets also continued in the third quarter. The sales prices recently achieved mean that, despite relatively stable raw material procurement costs, it was not possible to generate a positive contribution margin. Export turnover generated with particleboard was indicated at PLN16m in the quarterly report.

Despite losses in particleboard business, the EBITDA improved by 22% to PLN33m in the third quarter. According to preliminary figures, the EBIT rose by nearly one third to PLN19m. Development of results was adversely affected in the third quarter by a one-off effect of PLN2m in connection with the sale of financial assets of steel trader and logistics services provider Kwadrat, which belongs to the group.

 Accumulated over the first nine months, the group’s EBITDA increased by 10% to €94m. The increases in the first (+64.4%) and third quarters contrasted with a decline of 35.7% in the second quarter.

 

 

 

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