The EGGER Group, headquartered in St. Johann in Tirol (Austria), closed the first half of its 2021-22 financial year (reporting date Oct. 31, 2021) with consolidated sales of 1.98 billion euros ($2.24 billion) an increase of 36.5% as compared to the previous year. Special economic circumstances in the construction and furniture sector as well as capacity increases of new plants contributed significantly to the result. Raw material markets, however, created challenges.
The EGGER Group Management with Ulrich Bühler, Thomas Leissing and Walter Schiegl (from left) reports a continuing special situation.
The coronavirus pandemic and its effects on the economy and society were also decisive factors for the EGGER Group in the first half of the 2021-22 financial year. The special situation in which the industry has found itself since summer 2020 remained in place. The strong increase in demand continued.
During the first half-year 2021-22 the EGGER Group was able to generate sales of EUR 1,978.1 million (+36.5% compared to the first half-year 2020-21) and an EBITDA of EUR 478.6 million (+62.9% compared to the previous year). This result reflects the high level of demand. The new EGGER plants in Biskupiec (PL), and in Lexington, NC (US), contributed significantly to the increase in sales and results. In addition, the product mix was optimized in all plants. The building products product area in particular recorded disproportionate growth.
Despite continued uncertainties due to the coronavirus pandemic, the overall outlook for the second half of the 2021-22 financial year is positive.