Homann Holzwerkstoffe GmbH increased group revenue in the 2025 financial year, reporting sales of €383.1m compared with €369.9m a year earlier, despite subdued demand for MDF and HDF panels and continued geopolitical uncertainty.
© Homann Holzwerkstoffe GmbH
The company said audited consolidated results showed revenue met forecasts while pricing remained largely stable. Adjusted EBITDA, excluding currency effects, declined to €38.2m from €56.3m, representing a margin of 9.5% versus 15.3% in the previous year.
The reduction was largely linked to €15.6m in start-up losses at the group's new plant in Pagiriai, Lithuania, which began production in May 2025. Excluding these effects, existing operations generated adjusted EBITDA of €53.9m. Higher material costs and increased operating expenses also weighed on earnings.
Net loss improved slightly to €12.9m from €14.2m. Equity stood at €186.3m at year-end, compared with €197.1m in 2024, while total assets rose to €627.6m. The equity ratio remained solid at 29.7%.
Managing director Fritz Homann said the launch of production in Pagiriai and ongoing investment at the Losheim site had strengthened the group's operational base. He also highlighted the successful placement of a fourth corporate bond and the listing of the bond on the Oslo Stock Exchange as key financing milestones.
During 2025, the company issued a new €120m seven-year bond, refinanced earlier debt and extended financing for the Pagiriai plant to 2030. It also continued expansion works at Losheim and exited the Global MDF Industries joint venture in Egypt.
For 2026, Homann Holzwerkstoffe GmbH expects moderate growth in both revenue and adjusted EBITDA, driven by rising utilisation and lower start-up losses in Lithuania.
Source: www.moebelfertigung.com
