The EGGER Group reports sales for the first half of its 2021/2022 financial year (reporting date Oct. 31) were up 36.5% compared to the previous year to 1.98 billion euros.
The company says high demand in the construction and furniture sector as well as the capacity increases of new plants contributed significantly to the result. The situation on the raw material markets was challenging. The outlook for the second half of the year is optimistic despite existing uncertainties.
The so-called cocooning effect, “the increased consumer investment in one's own home, as well as uninterrupted new construction activities in almost all regions of the world are the main drivers behind the high demand for our products,” EGGERS says in a release.
“We are pleased that we have been able to make good use of the opportunities offered by this market. At the same time, the pandemic also presents us with significant challenges, especially in the area of raw material supply."
“Despite continued uncertainties due to the corona pandemic, the overall outlook for the second half of the 2021/2022 financial year is positive. Challenges include volatility in raw material costs, reduced logistics capacity and inflation risks that could lead to reduced consumption. Traditionally, construction activity is limited in the winter and therefore the second half of the financial year is weaker. EGGER Group management expects a stable development of the main markets and emphasises that the company, with its modern industrial base, its broad product range, its solid financial basis and, last but not least, its approximately 10,600 motivated and loyal employees, is very well positioned to face any new challenges.