Wood-based panel products supplier grows UK division

Manufacturer of wood-based panel products to the furniture industry, EGGER, has reported a growth in UK turnover and profit.

According to its latest filed accounts for the year ended 30 April 2022, total sales rose 32.5% to £398.8m from £301.1m in 2021.

Gross profit increased by 51.6% to £88.6m, with gross margin up to 22.1% from 19.4. EBITDA increased 35.8% to £66.6m from £49.1m.

Stated within its report, the company said that the improved market conditions following Covid-19 drove sales growth and expects to continue this momentum despite the current uncertain economic outlook.

“EGGER UK is well placed to sustain its financial performance based on its mix of customers, investments in employees, ongoing reinvestment in production technologies and product range, and high levels of service in the long term.”

EGGER has also recently achieved two awards in sustainability ratings: Prime status in the ISS ESG Corporate Rating and the EcoVadis silver medal.

EGGER has set itself ambitious goals and has its own performance evaluated annually by leading global ESG rating agencies. “We have high standards for our sustainability management and our transparent reporting. Through the objective analyses of external ESG rating agencies, we gain additional valuable insight into how we can further translate our objectives into our processes,” says Thomas Leissing, Chief Financial Officer EGGER Group.

Corporate ESG Performance – ISS ESG Prime status: ISS ESG is one of the leading rating agencies in the sustainable investment segment. For the third time already, it awarded the EGGER Group Prime status, which is reserved for the best companies in their respective industries. ISS ESG follows a scientifically based rating concept. Non-financial information from the areas of environment, social affairs and governance is taken into account. Companies achieve Prime status if they meet or exceed the sustainability performance requirements defined by ISS ESG for a specific industry. Companies with Prime status are considered sustainability leaders in their industry. EGGER found itself in the top 3 of 49 companies in its own industry that were assessed by ISS.

Ecovadis Silver Medal: EcoVadis, one of the world’s largest providers of sustainability ratings, awarded EGGER the silver medal for the fourth time already. This puts the wood-based materials manufacturer among the top 25 percent of all companies evaluated. The evaluation focuses on 21 criteria, which are subdivided into four subject areas: Environment, Labour and Human Rights, Ethics and Sustainable Procurement.

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