Kronospan Holding Germany delivered almost unchanged adjusted EBITDA of €44.9m in its 2018/2019 financial year, which ended on 30 September. According to its annual report, which was added to the electronic version of the German Federal Gazette on 5 November, group revenues fell by 9.0% to €455.3m. The EBITDA margin increased to 9.9 % as a result. Kronospan said that both price effects and lower sales volumes had spurred this decrease in revenues. Lower average prices were tied to a downturn in raw material costs during the year. The resulting cost cuts also helped to improve earnings. The material ratio thus dipped by one percentage point to 59 %. However, the personnel ratio and depreciation rate each climbed to 10%, the annual report states.
Kronospan saw the German market fare a little better than export operations in the 2018/2019 financial year, with 49 % of group revenues booked in Germany. Only small shifts surfaced among the different product groups. MDF/HDF and refined products accounted for 60 % of group revenues, with particleboard and refined products contributing 24 %. Other products again added 16%.
