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HOMANN HOLZWERKSTOFFE GmbH grows dynamically in FY 2014

DGAP-News: HOMANN HOLZWERKSTOFFE GmbH / Key word(s): Final Results
HOMANN HOLZWERKSTOFFE GmbH grows dynamically in FY 2014

22.04.2015 / 13:49

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HOMANN HOLZWERKSTOFFE GmbH grows dynamically in FY 2014

- Sales revenues climb 8.5% to EUR 203.0 million
- Significant improvement in earnings figures: EBITDA of EUR 14.4 million
(+23.1%) and EBIT of EUR 3.9 million (+50.0%)
- 3-shift operation in Krosno to begin shortly
- Successful start to the new financial year 2015

Munich/Herzberg am Harz, April 22, 2015 - HOMANN HOLZWERKSTOFFE GmbH, a
leading European supplier of thin finished wooden fibre boards for the
furniture, doors, coatings and automobile industries reports dynamic growth
for the 2014 financial year. The Group increased both its revenues and its
operating result significantly. "Although last year's results are slightly
lower than planned, we took yet another important step in the development
of our company and strengthened the profitability of our Group," said a
satisfied Fritz Homann, Managing Director HOMANN HOLZWERKSTOFFE GmbH.

The Group's sales revenues increased by 8.5% to EUR 203.0 million in 2014
(2013: EUR 187.0 million). This positive performance is mainly attributable
to the start-up of another finishing plant in Karlino/Poland as well as to
moderate price increases in individual segments. The relocation of the
personnel cost-intensive finishing activities from Germany to Poland, which
was completed in mid-2014, already has a positive effect on the operating
results. Earnings before interest, taxes, depreciation and amortization
(EBITDA) increased by 23.1% to EUR 14.4 million (2013: EUR 11.7 million)
while earnings before interest and taxes (EBIT) climbed 50.0% to EUR 3.9
million (2013: EUR 2.7 million). The Group's result for the year improved
by EUR 1.9 million to EUR -5.7 million (2013: EUR -7.6 million). Cash flow
from operating activities amounted to EUR 4.1 million (2013: EUR 2.1
million). The Group employed 1,338 people on an annual average (2013:
1,151).

Investments in the 2014 financial year focused on the production facility
for HDF/MDF raw boards in Krosno/Oder, Poland. Taken into operation in Q1
2015, the HOMANN Group's new facility is the most modern thin board plant
in the world and allows the same number of staff to produce five times as