DGAP-News: HOMANN HOLZWERKSTOFFE GmbH / Key word(s): Half Year Results/Interim Report
HOMANN HOLZWERTSTOFFE GmbH publishes figures for the first half of 2020
Munich, September 29, 2020 - HOMANN HOLZWERKSTOFFE Group, a leading European supplier of thin finished wooden fibreboards for the furniture, doors, coatings and automobile industries, generated Group revenues of EUR 117.4 million in the first half of 2020 (H1 2019: EUR 140.2 million) - under the influence of the temporary lockdown as a result of the coronavirus pandemic. Adjusted operating EBITDA amounted to EUR 19.8 million (H1 2019: EUR 24.8 million) and the EBITDA margin reached 17.0% (H1 2019: 17.7%).
At EUR 5.3 million, consolidated net income for the first six months of 2020 was clearly positive (H1 2019: EUR 13.7 million). Equity increased to EUR 46.6 million in the reporting period (December 31, 2019: EUR 45.1 million). This corresponds to an equity ratio of 19.2%, compared to 18.3% at the end of 2019.
Fritz Homann, Managing Director of HOMANN HOLZWERKSTOFFE GmbH: "All in all, we have come through the difficult months of the crisis well - in this context, special thanks also go to our employees. With the exception of April and May, all of the Group's plants showed good capacity utilization. The months of July and August were significantly stronger than planned, both in terms of revenues and earnings."
For the second half of the year, management is confident - based on the assumption that there will be no further significant restrictions on economic activity due to the COVID-19 pandemic - that it will be possible to partially make up for the revenue shortfall of the first half of the year and almost completely offset the decline in earnings, and that EBITDA will reach the level of 2019.
On the basis of a solid liquidity position, the company is well positioned in the medium to long term. The investments in the existing plants will therefore be made as planned this year.
The interim Group report for the first half of 2020 is available at www.homann-holzwerkstoffe.de.
29.09.2020 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
Regulated Unofficial Market in Berlin, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange
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