Record turnover and solid operating profit for Deceuninck | Inland

taketonews

In the first six months of the year, Deceuninck achieved a turnover of 488.7 million euros (+21 percent) and an EBITDA of 56.8 million euros (+11.2 percent). This is shown on Wednesday from the half-year results of the manufacturer of windows and doors. This is due to price increases to offset higher commodity prices and inflation, it said.

Net profit fell to 18.2 million euros. According to the company, the reason for this is mainly due to the impairment of all tangible fixed assets of Deceuninck in Russia (7.5 million euros) as a result of the uncertainty surrounding future activity in the country. Hyperinflation in Turkey has a negative accounting impact of 10.7 million euros, Deceuninck also reports.

Volumes decreased by 6.1 percent year-on-year due to the collapse of the Russian market, the difficult economic environment in Turkey and a slowdown in residential construction activity in all regions towards the end of the semester.

“Despite continued increases in commodity prices, occasional supply chain disruptions and a challenging economic environment in most of our end markets, we managed to push our sales and adjusted EBITDA to new records. At the same time, we have made significant progress in restoring our operational efficiency, especially in the US where this has resulted in higher profitability compared to last year,” said CEO Bruno Humblet.

Outlook

In terms of prospects, the company says it is a very uncertain economic environment for the second half of the year. “It is unclear whether the slowdown that we saw at the end of the second quarter and that continues into the third quarter will be temporary or rather long-lasting,” said Deceuninck.

Finally, the company also states that it is committed to reducing its own CO2 emissions by 60 percent by 2030.

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