GERMANY - Consolidated sales of Pfleiderer Group, a leading European manufacturer of wood products for the furniture industry, interior industry and construction, increased by 8.8% in 3Q-2018 to EUR 266.5 million.

Growth was supported by higher prices of products sold, increased sales volumes as well as an improved product mix. The share of high value-added products such as laminated and lacquered chipboards (MFC) and high-pressure laminates (HPL) in sales amounted to 63% in 3Q-2018 (and 64% in 9M-2018). 3Q-2018 EBITDA rose by 16.9% to EUR 35.2m, supported primarily by top line growth.

The increase came despite rising costs of raw materials used for production, including prices of wood and chemicals. Net profit for the period reached EUR 9.8m versus EUR 0.4m in 3Q-2017.

In the January-September period, consolidated revenues rose by 6.5% to EUR 799.7 million, while group EBITDA improved by 8.7% to EUR 104.6m. Year-to-date EBITDA margin stood at 13.1% (up by 0.3 p.p.).

Tom K. Schäbinger, CEO of Pfleiderer Group, commented: “The third quarter was Pfleiderer’s best quarter so far in 2018 in terms of growth. The firm managed to improve its profitability despite the visible impact of rising prices of raw materials, including wood, resins and chemicals. This was thanks to strict cost control, improving the efficiency of our production plants and well as our smart pricing policy. We managed to successfully transfer the rising costs of raw materials to end products and expand sales at the same time. We will continue to focus on increasing sales of high value-added products, where we still see room for improvement.”