balance sheet analysis

Binderholz breaks more than one record

Article by Gerd Ebner (translated by Eva Guzely) | 12.05.2022 - 09:09

Balance sheet analysis of Austrian sawmills: 2020 as good a year as the previous ones

In 2020, the coronavirus pandemic started. The second quarter was characterized by Covid-19-related uncertainties about the future. In July, it became clear that it would be “a very good year”. The big Austrian timber companies came close to the great results of 2019. Read more …

Six of the analyzed companies have made massive investments, acquired companies and modernized production sites and equipment since 2014. Only Donausäge Rumplmayr was comparatively conservative.

Two companies stood out in particular in the years from 2014 to 2020: Mayr-Melnhof Holz und Binderholz. The former went from being in the deep red in the previous period to becoming a company which generated nearly €370 million in profits in seven years, with an operating margin of around 14% both in 2019 and 2020.

However, everything pales in comparison with the developments taking place at Binderholz. The company’s sales passed the €1 billion mark in 2020 and are expected to reach an incredible €2.6 billion this year, following the acquisitions of two big US sawmills.

In the ranking of revenue from ordinary activities, Binderholz is in the lead with a year-on-year increase of 70% in 2020 and a total of €214 million. This is more than twice the revenue reported by Mayr-Melnhof Holz which ranks second.

In terms of operating margin, Binderholz reported a 20% margin and is thus in second place behind Holzindustrie Maresch. With an equity ratio of 89%, Holzindustrie Maresch is the number one company when it comes to this key figure as well. In the period 2014 to 2020, Pfeifer is in third place of the companies with the highest total annual profits with €185 million.

Hasslacher Holding reported a total of €126 million. Thanks to acquisitions and expansions, the Carinthian company managed to increase the balance sheet total by 2.4 times in the years from 2014 to 2020.