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Egger Group closes 2023/24 financial year with a turnover of €4.13bn
able to initiate far-reaching strategic developments. “Thanks to our very solid financial basis and long-term strategy, even considering the fragile market situation, we are taking steps towards growth and are growing despite the market situation.” In the 2023/2024 financial
Above: Egger’s Markt Bibart plant is undergoing extensive investment
Leading wood-based panels producer Egger Group recorded €4.13bn turnover in its financial year 2023/24 published at the start of August. The company also reported
EBITDA of €493.6m despite the turbulent overall economic environment.
The period also marked some major investments and developments, including the addition of a 22nd plant in Markt Bibart, Germany, plus the acquisition of a minority stake in Thai wood-based
material manufacturer Panel Plus. A pioneering climate strategy with its commitment to the Net Zero objective by 2050 was also established. “We are not entirely satisfied with the results,” said Thomas Leissing, chief financial officer Egger Group and Speaker of the Group Management. “At the same time, we are proud that we have been holding our own in this very difficult environment. We are clearly focused on the future and are delighted to have been
Martco starts production on
second OSB line in Corrigan Martco has revealed that its second OSB production line in Corrigan, Texas pressed its first board in June. Paul Pfingsten, Martco
Director of OSB Sales, announced the first board news in the company’s recent market update and said the 7/16 APA trademark stamp had been obtained in early August and the company was currently in the process of obtaining stamps for other thicknesses.
Dieffenbacher supplied a
four-head forming station, a CombiLine - which transforms continuous forming into discontinuous mat preparation without raw material loss and an 8 x 24ft 16-opening press. “Our team is excited about
what this facility will bring to the market now, as well as in the future,” said Mr Pfingsten. “The additional production from this line will position us to better serve our customers and expand our presence across the country. “This is coming at a great time for our team, as we have a full press rebuild project beginning in January 2025 at our OSB facility in Oakdale, Louisiana. We are planning for 12 full weeks of zero production in Oakdale during this time, so our second line in Corrigan will help offset a portion of the footage removed from the market. We have also begun execution of an inventory build plan in both Oakdale and Corrigan.”
year, Egger Group produced 10.4 million m³ of wood-based materials and timber (previous year: 9.6 million m3
).
“People in the vast majority of our markets have to deal with high inflation, the higher cost of living and more difficult construction conditions,” said Michael Egger Jr, Chief Sales Officer Egger Group. “All of this has led to a
low propensity to consume and significant decline in construction permits – and ultimately to a low demand for our products.” Unconsolidated turnover in the Building Products segment (products for wood
construction and flooring) fell by -22.0% to €704.9m. In the Decorative Products segment (products for furniture and interior design), the plants in Western and Eastern Europe have been well utilised, but the situation in the core markets in Central Europe has been challenging. The Decorative Products segment generated an unconsolidated turnover of €3.62bn (-3.8% compared to the previous year). Group investments in the financial year totalled €568.6m – on company acquisitions, expanding existing capacities, including more capacity for coating with decorative surfaces, in furniture component lines and laminate production.
The chipboard plant acquired in Markt Bibart in November 2023 has seen extensive recent investments, enabling it to use recycled wood and upgrade to laminated chipboard.
Tecno Logica joins SCM Group
SCM Group has signed an agreement with Tecno Logica to take over control of its share capital. This is a strategic operation which expands the range of products and services offered by the group from Rimini with integrated modular and scalable systems, for
large automotive, furniture and door production manufacturers. Tecno Logica is based in
Treviso and is one of the main manufacturers of highly productive and flexible systems for a wide range of industrial processes, with over 200 installations globally.
Above (from left): Marco Mancini, CEO of SCM Group; Luigi De Vito, general manager of SCM Group; Giovanni Gemmani, vice-president of SCM Group; Carlo Toniolo, technical director of Tecno Logica; Mirko Piasentin, CEO of Tecno Logica; and Andrea Aureli, president of SCM Group
www.wbpionline.com | August/September 2024 | WBPI
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