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Forte’s profits down again in first quarter

22.05.2018 − 

According to provisional information, sales revenue generated by Polish Forte was 6 % up in the first quarter of its business year 2018 at 295m PLN. Sales revenue in 2017 as a whole had already been only slightly higher than a year earlier at 1.096bn PLN. The company also had to continue put up with considerable reductions in its key performance figures in the first quarter. EBITDA, for example, halved to 23m PLN. EBIT fell even more sharply by 61 % 16m PLN. Forte is aiming to announce the final figures for the first quarter on 24 May.

In the last few months, growth in sales revenue had been slowed considerably and the company’s results impaired by high prices in particular by the limited availability of chipboard along with internal squeezes in production capacity. The release published on 25 April states that Forte is working from the assumption that the start-up of its own chipboard works in Suwalki and the switch in the production process underway since the beginning of the year are going have a positive impact on the financial result in the forthcoming quarters.

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