08/25/2021 | Press release | Distributed by Public on 08/25/2021 01:56
The leading full-range supplier of flooring systems has closed the first half of 2021 with record figures despite the considerable effects of the raw material procurement situation: Compared to the previous year, Group sales increased by 18.6 % to 221.7 million euros (first half of 2020: 186.9 million euros). With 29.0 million euros, earnings before interest and taxes (EBIT) in the first half of the year were also 87.6% above the previous year's level (first half of 2020: 15.5 million euros).
With the products of the brands Uzin, Wolff, Pallmann, Arturo, Codex, RZ and Pajarito, Uzin Utz closed the first half of 2021 with a new record. All companies in the core and growth regions achieved an increase in sales and earnings in the first six months compared to the previous year. In addition, Group sales increased compared to 2020 despite the ongoing pandemic and difficult raw material procurement.
As a result, Group sales in the first half of the year amounted to €221.7 million (€186.9 million in the first half of 2020), which corresponds to an increase of 18.6% compared to the previous year's figure. Earnings before interest and taxes (EBIT) rose significantly by 87.6%, from €15.5 million to €29.0 million.
'However, the availability of raw materials has not improved. Due to our leading market position, the strong procurement organisation as well as the fast and targeted cost management, Uzin Utz was able to gain market share and achieve record results despite all difficulties', says Heinz Leibundgut, member of the board of Uzin Utz, responsible for finance and management of the associated companies. 'Our strong product portfolio, high customer demand worldwide and the excellent operational performance of our workforce have contributed to achieving a new record in the first half of 2021,' Leibundgut added. A further effect for the disproportionate growth in earnings results, amongst other things, from a one-time special effect of 1.3 million euros, which can be attributed to the sale of an investment property.
With the products of the brands Uzin, Wolff, Pallmann, Arturo, Codex, RZ and Pajarito, Uzin Utz closed the first half of 2021 with a new record.
Heinz Leibundgut, Chief Financial Officer of Uzin Utz AG.
On the one hand, Uzin Utz was able to report record figures, but on the other hand the company is having to cope with massive price increases and supply bottlenecks, which have been gathering pace since December 2020. 'The forecast assumes that further uncertainties in procurement prices will remain and that the supply situation will be challenging in all manufacturing companies,' says Heinz Leibundgut. 'The situation will become more difficult as the supply bottlenecks in the procurement of raw materials last longer. We must therefore by be careful not to rest on our efforts and expect production restrictions and the associated effects to continue in the second half of the year,' says Heinz Leibundgut on the further development of the business trend.
About the Uzin Utz Group
With around 1,300 employees and a consolidated turnover of EUR 383,6 million (2020), the Uzin Utz Group, Ulm, is a leader in the development and manufacture of products and machines for floor laying. The construction chemical product systems for the laying of all kinds of floor coverings, including surface finishing and machines for tillage, are all developed and manufactured by the Group companies themselves and marketed worldwide under the internationally successful brands Uzin, Wolff, Pallmann, Arturo, codex, RZ and Pajarito. As a system partner of the skilled trades, planners, architects and builders, Uzin Utz has been dedicated for 100 years to providing professional support to end customers and installers in all areas of floor laying. More press releases on www.uzin-utz.com