The Management Board of Fabryki Mebli FORTE has released preliminary financial results for the third quarter of the 2024/2025 financial year, covering October to December 2024. Consolidated sales revenue for the period reached PLN 293 million, an increase from PLN 282 million in the same quarter of 2023/2024. Sales of surplus furniture board outside the Group amounted to PLN 37 million, slightly lower than PLN 41 million in the previous year.
Photo: Fabryki Mebli FORTE.
Fabryki Mebli FORTE reported total sales revenue of PLN 772 million for the nine-month period from April to December 2024, compared to PLN 758 million in the previous financial year. The estimated consolidated EBIT for this period was PLN 36 million, a significant improvement from PLN (-)4 million in 2023/2024. The Group's EBITDA increased by 108% to PLN 77 million.
The Management Board attributes these improvements to cost optimisation efforts and the success of FORTE's hedging strategy, which mitigated the impact of currency fluctuations. Without this strategy, revenue would have been significantly affected by the strengthening EUR/PLN exchange rate. The strategy's positive effect on financial results increased by PLN 22.5 million in Q3 alone, bringing the total impact for the nine-month period to PLN 42.7 million.
However, a PLN 4.4 million charge to operational costs was reported due to production downtime at TANNE's raw board division, caused by issues with the main boiler. Despite industry difficulties, FORTE maintains a financial debt-to-EBITDA ratio of 2.6, within the range agreed with banks.
Source: www.biznes.meble.pl