- Uzin Utz is in a stable position even in the most severe economic crisis since the Second World War
- Group sales and earnings at previous year's level
- Construction sector remains resilient
Ulm, August 26, 2020 – The leading manufacturer of floor laying systems remains stable in the first half of 2020 despite the considerable impact of the corona pandemic: Compared to the previous year, sales increased by 0.3% to 186.9 million EUR (half-year 2019: 186.3 million EUR). The EBIT of the first six months remains at last year's level despite the impact of the Corona crisis (half-year 2019: 15.4 million EUR). The main reason for the good result is the core business in Europe.
Renovation and modernisation provide additional impetus
Germany's construction industry is still in a good position compared to many other European countries. "At present, residential construction in Germany is barely affected by the COVID 19 pandemic," Heinz Leibundgut, CFO of Uzin Utz, says. "Completions in new construction are still at a high level. The themes of renovation and modernisation are providing additional impetus in the market. Those who cannot or do not want to go on holiday are investing the money in their own four walls," Heinz Leibundgut continues. The situation in other countries was somewhat more difficult than in Germany.
The national companies in France, England and the USA, among others, are particularly affected by the consequences of the Corona shutdown. "The stable result of our core business shows how resilient our industry is even in the crisis," Heinz Leibundgut says. "However, we are not yet able to make a reliable forecast of how Corona will affect our business in the coming months. We see the challenges and have managed them well: Uzin Utz remains stable and is very solidly positioned.
Internal and external pandemic measures
Uzin Utz has implemented extensive measures as part of the global effort to contain the spread of coronavirus. In particular, these measures are designed to prevent infection of employees and to minimise downtime in production or other areas. Whenever possible, the workforce currently works in shifts from home. In the production area, multi-shift operation was organised and separated from each other in such a way that the potential risk of infection and downtime was limited.
"In the meantime, we have learned what rules and measures are necessary to get infection control into our everyday life. Of course, this means that many things that were taken for granted before the pandemic will not exist for the time being. We are very proud of our employees. Everyone is willing to try out new approaches and supports us in this situation," Julian Utz says, member of the board.
In order to remain available to its customers at all times during the Corona crisis, Uzin Utz has expanded its service activities and adopted new approaches in good time. These include digital service offerings such as online setup recommendations using a floor navigator, WhatsApp video chat and other mobile tools. Customer training courses are once again being held in person, both digitally and with the appropriate hygiene and distance concept.
"We have a clear plan for the next few years and continue to adhere to the goals of our PASSION 2025 strategy. We have made great progress in developing our digital capabilities. Despite the current difficult environment, we can build on the strength of our employees and partners. Together, we look forward to the coming months with confidence", Philipp Utz says, also a member of the Management Board.
"We cannot make a final assessment of what the outcome will be on December 31. A pandemic has no rules, is not predictable and therefore does not allow a serious forecast", Heinz Leibundgut says about the further development of the business.