Egger grows by 5.6 per cent

Egger Group Management appears to be very satisfied with the sales of EUR 2 841.5 mio gained in financial year 2018/2019. That is an increase of 5.6 per cent compared to the previous year. The amount of raw panels produced including sawn timber was able to be increased to 8.8 mio m3 (+3.5 per cent). According to statements made as part of the annual press conference yesterday at the company headquarters in St. Johann in Tirol, this corresponds to full utilisation of all primary production capacities. Throughout the whole group, Egger employed an average of 9 481 staff last year.Problem child ArgentinaNon-European countries a playing a growing role for Egger. In financial year 2018/2019 they made up 11.6 per cent of overall sales with EUR 330 mio (plus ten per cent compared to the previous year). However sales at the new plant in Argentina remained below expectations: "The Argentinian market, which is new for us, was very challenging as it was shaped by very high inflation and the currency decline of the Argentinian pesos and the economic recession associated with this," explains Ulrich Bühler, Egger Group Management Sales/Marketing.High investmentsIn financial year 2018/2019, Egger made investments in tangible and intangible assets to the amount of EUR 489.1 mio (previous year: EUR 483.8 mio). Of this, EUR 78.1 mio was attributed to maintenance investments, EUR 411.0 mio to growth investments. The largest positions were taken up by the two projects in Biskupiec, Poland, and in Lexington, North Carolina, (USA).