AUSTRIA – In the initial half of the 2023/2024 financial year, the Egger Group recorded sales of EUR 2,097.8 million, reflecting a decrease of 7.0% compared with the same period in 2022/2023.

EBITDA amounted to EUR 299.2 million, indicating a decrease of 15.4% compared to the previous year. The EBITDA margin stood at 14.3%. These figures highlight the impact of the highly volatile general economic conditions over the past six months.

Thomas Leissing, Chief Financial Officer of the Egger Group and Speaker of the Group Management, reflected on the challenging first six months of the financial year, stating, “The persistent high inflation in many regions, stricter capital requirements for home purchases, and global geopolitical uncertainties have resulted in a general weakening of consumption and a decline in demand across almost all markets. Despite these obstacles, our more than 11,000 employees’ dedication has allowed us to report a slight decrease in Group-wide sales. We are particularly pleased that, in the first half of 2023/2024, we successfully initiated strategically forward-looking decisions, such as the acquisition of our 22nd production plant in Germany and the Egger Group’s commitment to climate protection with the Net Zero 2050 target.”

Given the considerable uncertainty in the overall economic outlook, Egger approaches the second half of the 2023/2024 financial year with cautious earnings expectations. The wood-based material manufacturer foresees a continued decrease in demand, influenced in part by seasonal effects. Nevertheless, Egger is confident in its ability not only to navigate the ongoing macroeconomic downturn successfully but also to emerge from it in a stronger position than before.