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Successful financial year 2019/20 despite the pandemic

11.11.2020 | News | SWISS KRONO Group

SWISS KRONO Group can present a solid business result despite the difficult circumstances of the most recent financial year: since the coronavirus crisis hit the economy hard and customers had to shut down due to the lockdown, SWISS KRONO recorded a decrease in turnover of over 30% in April and 20% in May compared to last year. In the following months, the situation stabilised and improved through consistent crisis management focused on short-term potential. The Group closed the financial year on 30 September 2020 with a gross turnover of EUR 1.7 billion (CHF 1.82 billion), bringing the figure to just approx. 4% below the 2018/19 financial year’s EUR 1.8 billion. In the flooring sector, the gross turnover of approx. EUR 715 million (CHF 768 million) was slightly more than the previous year’s level. Sales in the building materials (OSB) sector were still strong – gross turnover was 5% below the previous year at around EUR 518 million (CHF 557 million) due to pricing policy. The interiors sector was the most severely affected by the industry’s coronavirus-related shutdowns: a 13% decline in gross turnover compared to the previous year had to be accepted here. This brings the figure to EUR 391 million (CHF 421 million) for the past financial year. “We are pleased that, despite the difficult market conditions of the last few months, we can look back on a satisfactory result given the circumstances. Our efforts were successful not least thanks to quickly and efficiently implemented crisis management that enabled us to adapt to the new conditions,” says Georg Mäder, the Group’s CSMO.

Martin Brettenthaler, CEO and President of the Executive Committee is cautious about the upcoming financial year: “The ongoing global pandemic situation is a major element of uncertainty that we simply cannot judge. Therefore, we are making plans for 2021 with the appropriate caution. Nevertheless, we as a Group are looking into the medium-term future with optimism: we are convinced that even in a difficult global economic situation, the demand for high-performance, CO2-neutral and, therefore, sustainable wood material will develop favourably for us.” On this note, SWISS KRONO Group has resumed the investment projects that were interrupted in spring to further prepare the company for the future. Investments of around EUR 180 million are planned for the 2020/21 financial year. The largest investment project is the launch of OSB production at the Russian site in Sharya.

Following the death of company founder Ernst Kaindl in 2017, his daughter and Chairwoman of the Board of Directors Ines Kaindl-Benes has finally settled all outstanding inheritance issues and has, in the last few months, consolidated the shareholder base. Ines Kaindl-Benes is now 100% owner of SWISS KRONO Group. This important step secures the future of SWISS KRONO as a family business.

Since the Group’s management team under the leadership of Martin Brettenthaler (CEO since 2016) has proved successful, Ines Kaindl-Benes has, therefore, decided to stand down from this body after twelve years as Chairwoman of the Board of Directors. The Board will be chaired by Dr Wilhelm Hörmanseder, who has many years of experience on this Board. Mr Georg Benes will also join the Board of Directors.


About SWISS KRONO Group

SWISS KRONO Group is one of the world’s leading manufacturers of wooden materials and stands for sustainable and innovative solutions in the home interiors, flooring, and building materials sectors. Founded in 1966 as a family business, its head office is located in Lucerne, Switzerland and has production sites at ten locations in eight countries. The Group currently employs around 5,000 staff. SWISS KRONO Group has always had a relentless focus on quality and sustainability. The result: wood in its finest form.

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Katja Hallbauer
Corporate Communications