SPAIN - Finsa, Spain's leading manufacturer of wood-based panels, achieved a record turnover of EUR 1,119 million in 2021, 34 % more than in 2020 and 21 % above that achieved in 2019, far exceeding the pre-pandemic level.
Not only sales, favored by both higher volume and an increase in the average price in an inflationary environment, also results grew. Finsa recorded recurring EBITDA of EUR 167.7 million compared with EUR 104 million in 2020, while profit doubled from EUR 52.5 million in 2020 to EUR 108.4 million in 2021.
The investment figure in 2021 was EUR 64 million. Giving continuity to the investment aimed at the technological upgrade of manufacturing facilities and the digital transformation of processes.
Despite the good results of the past financial year, the company warns of the current difficulties. "We continue to be affected, as all other sectors, by the impacts on the global economy arising from Russia's invasion of Ukraine, mainly increases in raw material and energy prices and tension in the supply chain. They also warn about "the uncertainty regarding the evolution of the socioeconomic situation and its impact on the markets in the coming months, a we have already noticed a drop in demand in recent weeks".