The turnover threshold of 1 billion euros was broken for the first time. The decline in the operating result was also relatively moderate. Adjusted earnings before interest and taxes (EBIT) fell by 12.9 percent to EUR 80.2 million, the company announced on Friday. The company had previously warned of a significant drop in profits.
Group sales were around EUR 1.04 billion, after EUR 884.1 million in the same period of the previous year. This corresponds to an increase of 17.5 percent. According to its own statements, the group benefited from high demand, increased sales prices and favorable exchange rate effects.
Nevertheless, the difficult economic environment, above all the tense supply chains and the high energy and material costs, had a dampening effect on the result. In addition to slight reductions in EBIT, earnings before interest, taxes, depreciation and amortization (EBITDA) fell by 10.5 percent to EUR 119.5 million, while consolidated earnings fell from EUR 56.1 million to EUR 39.2 million.
Source: Nachrichten
