AUSTRIA – On December 21st 2016 the Egger Group reported on results of the first semester that ended on October 31st of the 2016/2017 FY.

Headquarters in St. Johann in Tirol (Austria), the Group has completed the first half of its financial year 2016/2017 with consolidated sales of EUR 1.19 billion. With this steady turnover development, the EBITDA increased by 10.1% on the previous year to reach EUR 189.6 million and the EBITDA margin increased to 15.9% (previous year: 14.4%).

The Egger Group Management expressed satisfaction with its first half-year developments. “The general economic situation was very unstable in the last half-year. Nevertheless, as compared to the previous year, we were able to grow in almost all relevant geographic markets in our main product segment, Furniture and Interior Design, which represents 75% of our total turnover. The big exception is the UK, where uncertainty following the Brexit vote led to a devaluation of the currency,” explains Thomas Leissing, Head of Finance/Administration/Logistics and spokesperson of the Egger Group Management.

In the first six months of the current 2016/2017 financial year, Egger invested EUR 145.6 million in property, plant and equipment, as well as in intangible assets (previous year: EUR 142.8 million). EUR 36.4 million were maintenance investments. EUR 109.2 million were used for growth investments of which the main projects were: completing the installation of the MDF/HDF production line including flooring production in the Gagarin plant (RU), investments in energy, maintenance and storage capacities in the two French plants of Rambervillers and Rion, as well as an additional edging production line in the Brilon (DE) plant. “Thanks to the continued high-level investments, we have 17 modern, environmentally-friendly and safe plants,” said Walter Schiegl, Head of Production/Technology of the Egger Group.