AUSTRIA - The Egger Group, one of the largest global wooden panel manufacturers, headquartered in St. Johann in Tirol (AT), closed the first half of its 2022/2023 financial year (reporting date 31 October 2022) with consolidated sales of EUR 2.26 billion (+14.0% as compared to the previous year) and an EBITDA of EUR 353.7 million (–26.1% compared to the previous year).

However, the highly volatile general conditions are also a challenge for the wood-based materials manufacturer: It is forced to register a noticeable decline in demand. The outlook for the second half of the year is reserved.

The first half of the 2022/23 financial year was marked by a multitude of crises and uncertainties, both economically and politically.

Thomas Leissing, Chief Financial Officer Egger Group: "The very strong results of the previous year are due to the extremely high demand following the cocooning effect that resulted from the Corona crisis, and can therefore be classified as exceptional. This boom in demand has noticeably decreased since spring 2022. In the meantime, we are seeing a decline in demand in almost all markets. At the same time, we continue to face a multitude of uncertainties."

The overall economic outlook remains fraught with uncertainty for the coming months and will continue to be strongly influenced by the challenges on the energy and raw material markets. This means that earnings expectations for the second half of the 2022/23 financial year are also reserved.