DGAP-News

Homann Holzwerkstoffe GmbH: Rating agency confirms solid financial profile, affirms BB- rating and raises outlook to stable - Seite 2

Overall, the significant increase in profitability and cash flow capability in recent years as well as the solid financial profile with noticeably reduced leverage (net debt/EBITDA of 2.4x) open up scope for further expansion in Europe. As recently announced, the Group plans to build a fourth plant in Lithuania for the production and finishing of thin fibreboards for the rapidly growing furniture industry in the region. The plant is currently scheduled to go into operation in the course of 2022.

Fritz Homann, Managing Director of Homann Holzwerkstoffe GmbH: "The confirmation of the rating and the lifting of the outlook to 'stable' impressively prove that, thanks to the effective expansion investments made over the past years and the resulting increase in earnings and cash flow, we have achieved a financial profile with rock-solid key figures that makes us very crisis-resilient. This is clearly reflected in our good Q3 figures, with results that are on a par with the strong previous year. We are thus in an excellent position to take advantage of the growth opportunities arising in Eastern Europe."

 

Press/Investor Relations:
IR.on AG
Fabian Kirchmann, Anna-Lena Mayer
T [phone]
[e-mail]

Contact:
Homann Holzwerkstoffe GmbH
Teresa Kerscher
T [phone]
[e-mail]

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02.11.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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Language:	English
Company:	HOMANN HOLZWERKSTOFFE GmbH
	Adalbert-Stifter-Straße 39a
	81925 München
	Germany
Phone:	089 99 88 69-0
Fax:	089 99 88 69-21
E-mail:	[e-mail]
ISIN:	DE000A2E4NW7
WKN:	A2E4NW
Listed:	Regulated Unofficial Market in Berlin, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID:	1144515