In the third quarter turnover of the kitchen furniture group Alno dropped by 10.2% to €97.1m. Whilst export turnover developed along fairly stable lines, a clear decline of 12-14% was recorded on the domestic market. The company considered the decline to be due to a slump in demand, which was more significant than had been expected, particularly in the summer months. The decline in turnover in the third quarter was, nevertheless, less significant than had been the case in the first quarter (-15.3%) and in the second quarter (-14.4%). EBITDA dropped by more than half to €1.6m, whereby the result in the comparative period last year had been influenced by one-off special effects. The EBIT was negative at -€1.5m.
Source:
http://www.euwid-wood-products.com/news/furniture/single/Artikel/alno-turnover-decline-of-10.html
