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Dr. Andreas Ludwig, CEO of the Umdasch Group © Umdasch Group

Umdasch achieves second-best annual result ever

Article by Dinah Urban, translated by Robert Spannlang | 26.05.2015 - 08:15
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Dr. Andreas Ludwig, CEO of the Umdasch Group © Umdasch Group

Despite fluctuating demand, Austrian formwork and shopfitting specialist Umdasch, Amstetten, achieved sales of € 1.1 billion (+0.4%) in 2014 – the second best result in the company’s history. Profit increased by 72% to € 79 million, reports the daily newpaper Die Presse. Given an export quota of 90%, the group of course also benefitted from the weak euro. Short-time work in the Doka plant, which had become necessary towards mid-year, was lifted in the 4Q. Wage cuts and an extension of working hours had previously been accepted by the employees. In return, the company guaranteed to continue operating at least for the next two years.

The company’s subsidiary Umdasch Shopfitting halved its losses last year. Tbe business felt the stagnation of investment in the trade, especially the clothing trade, a company speaker said. Sales in the food retail sector, on the other hand, held stable.