POLAND - In the first half of 2017 the Pfleiderer Group, one of the main wooden panel manufacturers in Europe, generated a solid set of financial results.

Sales revenues amounted to EUR 506.0 million and increased by 3.4% in comparison to H1, 2016 (EUR 498.3 million). This is mainly the result of organic developments supported by a strong market.

Pfleiderer has grown in sales volumes - high single-digit increase was recorded on majority of the business lines in H1, 2017. Sales revenues increase was followed by the growth in sales margin, as the share of value-added products increased to 66% of revenues. As a result, the gross profit margin increased from 22.2% in H1, 2016 to 23.6% in H1, 2017.

The Group’s reported EBITDA amounted to EUR 66.1 million and was 27.6% higher compared to the same period last year (EUR 51.8 million). Productivity enhancement programs, successful cost initiatives and good margin management compensated for higher raw-material prices.