Homann Holzwerkstoffe GmbH reported revenues of EUR 188.1 million for the second half of 2025, representing a 2.5% increase from the same period in 2024 when revenues were EUR 183.5 million. The growth was primarily driven by higher sales volumes, with prices remaining largely stable. The company, a leading European supplier of thin, refined wooden fibreboards for furniture, doors, and coatings industries, published its interim Group report in compliance with obligations tied to its Bond 2025/2032.
Adjusted operating EBITDA for the Group was EUR 16.1 million, down from EUR 27.9 million in the prior year period, with the margin on total output falling to 8.2% from 15.5%. This decline was significantly affected by operating start-up losses at the new plant in Pagiriai, Lithuania. Excluding these losses, the existing plants generated adjusted EBITDA of EUR 27.2 million, compared to EUR 30.8 million previously. The remaining decrease was attributed to a higher cost of materials ratio and increased other operating expenses. The consolidated result for the half-year was a loss of EUR 10.1 million, whereas it was a profit of EUR 6.3 million in the second half of 2024; adjusted for the start-up losses, it would have been a profit of EUR 6.7 million.
Managing Director Fritz Homann stated that the existing plants showed stable performance overall and slightly improved their earnings contribution compared to the first half of the year. He noted that the new Lithuanian plant is progressing through its planned ramp-up phase, with the associated start-up losses being an expected effect that will diminish as operations advance. The company has strengthened its long-term financing structure by prolonging financing in Lithuania until 2030.
On November 3, 2025, Homann Holzwerkstoffe concluded a settlement agreement regarding its joint venture Global MDF Industries B.V. in Egypt, selling its shares back to the joint venture partner and terminating pending arbitration proceedings. The company's equity stood at EUR 186.3 million as of December 31, 2025, corresponding to an equity ratio of 30.0%, down from EUR 197.1 million at the end of 2024, mainly due to the negative half-year result and currency translation effects.
Based on unaudited figures, the company confirmed its full-year 2025 forecast, with revenues expected to be EUR 383.1 million, slightly above the previous year's EUR 369.9 million, while adjusted EBITDA is anticipated to decrease to EUR 38.2 million from EUR 56.3 million, as previously expected. An outlook for 2026 will be provided in the Annual Report 2025, scheduled for publication on April 24, 2026. The interim Group report for the second half of 2025 is available at https://www.homann-holzwerkstoffe.de/en/investor-relations/press-releases-documents/financial-reports/.
