W.Classen Booked Growth in Turnover to €343.5m in The 2011 Business Year

The German company W. Classen, which acts as umbrella company for the Classen group, booked growth in turnover to €343.5m in the 2011 business year, according to the latest financial report published in the electronic Federal Gazette. €92m of turnover were generated on the domestic market in Germany and €288.8m abroad. The export rate thus stood at 84%. The Classen group’s financial situation was adversely affected by rising raw material costs, in particular. Wood prices had climbed by an average of 13% over the year and glue prices by as much as 27%. Classen says it was able to pass on the higher costs in the form of own price increases and via additional production optimisation with a certain time-lag. However, the result from ordinary business activities remained negative at -€1.0m.