GERMANY – Pfleiderer GmbH, one of the leading manufacturers of engineered wood in Europe, can look back on a successful first half of 2014.

Compared to the same period of the previous year, turnover increased by 6.3 % to 486.4 million euros. Both business units, Core West (Western Europe) and Core East (Eastern Europe) were able to increase their revenues. Earnings before interest, tax, depreciation and amortization (EBITDA) grew disproportionately to 59.2 million euros and almost doubled in comparison to the previous year (+94.1 %). This increase is due to higher prices, and to significant savings resulting from the on-going efficiency programs that have led to a significantly improved cost structure. The Management Board of Pfleiderer GmbH is also anticipating for the year 2014 as a whole an increase in turnover in comparison to the previous year, as well as a continuing increase in earnings.

“Pfleiderer gained in clout in the first six months of the year and is on a clear path of growth. Customers have confidence in the Pfleiderer brand and value our product range. At the same time, we have made considerable progress in reducing our costs and increasing our efficiency. On this basis, Pfleiderer was able to benefit from a market environment for engineered wood products that was stable in Western Europe and friendly in Eastern Europe and significantly increase both turnover and earnings”, said Michael Wolff, spokesman of the Management Board (CEO) of Pfleiderer GmbH.

“Furthermore, in July, we successfully returned to the capital market with the placement of an issue worth 321.7 million euros and created a solid foundation for the financing of our company for the long-term. On this basis, we are confident as regards the developments in the rest of the year, even against a background of the economic risks having recently increased again.”