DGAP-News: HOMANN HOLZWERKSTOFFE GmbH / Key word(s): Annual Report/Annual Results
Homann Holzwerkstoffe GmbH publishes consolidated financial statements for 2021 and reports record results
Munich, April 28, 2022 - Homann Holzwerkstoffe GmbH, a leading European supplier of thin, refined wooden fibreboards for the furniture, doors and coatings industries, today published its consolidated financial statements for the financial year 2021. In spite of a challenging market environment, the company was once again able to continue its profitable growth. Revenues increased by a noticeable 27% to EUR 334.9 million. At EUR 82.7 million, Homann Holzwerkstoffe's operating EBITDA again reached a record level and were up by 67% on the financial year 2020 (EUR 49.4 million). The EBITDA margin, i.e. EBITDA as a percentage of total output, thus rose by over 5 percentage points to 24.6%.
The Group's consolidated net income amounted to EUR 48.7 million (previous year: EUR 19.1 million). Consequently, equity picked up noticeably from EUR 57.9 million on the 2020 reporting date to EUR 107.3 million on 31 December 2021. Although total assets increased sharply, the equity ratio improved to 28.6% (previous year: 18.7%). At EUR 87.9 million, operating cash flow more than doubled from the previous year's EUR 43.3 million.
"With this good overall result, we continued our success story also in 2021," says Fritz Homann, Managing Director of Homann Holzwerkstoffe GmbH. "This is essentially attributable to the Covid-19 pandemic and the resulting change in purchasing and consumer behaviour, which, in turn, is due to the fact that people spent more time at home both professionally and privately and bought furniture to make their surroundings more attractive."
Meanwhile, Homann Holzwerkstoffe is continuing its large-scale investment in Lithuania. Production at the new site near the capital of Vilinius is expected to commence next winter. In its forecast for the financial year 2022, management remains cautiously optimistic and projects growing revenues and stable EBITDA.
The annual report for 2021 is available at https://www.homann-holzwerkstoffe.de/en/investor-relations/press-releases-documents/financial-reports/. In summer 2022, the company will also publish its first sustainability report, which will provide comprehensive information on its sustainability strategy.
About Homann Holzwerkstoffe
Headquartered in Munich, Homann Holzwerkstoffe GmbH is a leading supplier of thin, high-quality finished medium-density and high-density fibreboards (MDF/HDF). With production plants in Losheim am See, Germany, as well as Karlino and Krosno/Oder, Poland, the Group serves the global furniture, doors and coatings industries, with the main focus on the European markets. The family-owned company looks back on a long tradition and has been established on the capital market since 2012. Its 2021/2026 corporate bond (ISIN: DE000A3H2V19; WKN: A3H2V1) is listed on the Frankfurt Stock Exchange.
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28.04.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
HOMANN HOLZWERKSTOFFE GmbH
089 99 88 69-0
089 99 88 69-21
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