Arbonia AG / Key word(s): Profit Warning
Arbon, 12 January 2023 – The financial year 2022 was challenging due to increased material and logistics costs, material shortages, a dramatic rise in energy costs, increased interest rates, and the Swiss franc significantly appreciating. In general, this situation did not ease in the second half-year of 2022 due to factors such as energy costs continuing to rise.
The price increases that were announced for both divisions due to the sharp rise in material costs were brought into effect during the second half-year of 2022, although the rapid increase in energy costs towards the end of the year had an additional impact on results. The raw material markets revealed a varying picture in which some material prices were able to stabilise at a high level, but overall the Doors Division did not see any easing of the situation, particularly in relation to wooden materials. Demand for single-family homes also dropped as a result of the situation of interest rates and construction costs. Due to the overall situation, the HVAC Division felt the strain of a huge volume reduction that came unexpectedly after a healthy first and second quarter of 2022; amounting to as much as 25%, this affected radiators – in particular, steel panel radiators. Arbonia believes that the destocking which had a negative impact on the HVAC and Doors Divisions in the 2022 financial year will come to an end in the foreseeable future and that demand will return to the long-term trend.
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