Homann Holzwerkstoffe Publishes Consolidated Financial Statements for 2023

Homann Holzwerkstoffe GmbH, a prominent European supplier of wooden fibreboards, has reported its financial performance for 2023, indicating a reasonable outcome despite economic pressures. The company registered an adjusted operating EBITDA of EUR 55.2 million, marking a decline from the previous year's EUR 75.0 million, yet within management expectations. The annual revenue saw a decrease of 10.2%, falling to EUR 354.5 million primarily due to lower market prices and high price sensitivity in the sector.

Despite these challenges, the company's consolidated net profit amounted to EUR 23.7 million, down from EUR 44.6 million. However, equity saw an increase, reaching EUR 179.7 million by the end of 2023, which boosted the equity ratio to 31.1%. This financial health underscores the company's resilience in a tough market environment, characterized by significant price volatility and a demand reduction for MDF/HDF boards.

Fritz Homann, the Managing Director, expressed satisfaction with the performance and remains cautiously optimistic about 2024. The company’s focus will be the integration of their new facility in Lithuania, expected to significantly contribute to their long-term expansion strategies despite its delayed start.