Uzin Utz achieves robust third quarter in a challenging environment

• Group turnover of EUR 370.5 million as of the third quarter of 2022 is 12.3 % above the value of the previous year
• Earnings before interest and taxes (EBIT) in the first nine months of 2022 22.2 % below the previous year due to strongly increased prices

Uzin Utz again achieved a solid economic result in the third quarter of 2022. The decisive factors here were the continued robust demand for construction chemical products and tools for floor treatment, a good order situation and ongoing cost discipline.

In a difficult market environment, Uzin Utz held its ground solidly in the third quarter of the current financial year. Despite the continuing economic challenges, the group of companies was able to increase its order intcome. As a result, consolidated turnover rose by 12.3 % to EUR 370.5 million as of the third quarter and is thus EUR 40.6 million above the previous year's level (EUR 329.8 million). Earnings before interest and taxes (EBIT) as of September 30, 2022 were 22.2 % below the previous year (EUR 39.3 million) at EUR 30.6 million. The decline in earnings is primarily due to margin deteriorations as a result of higher raw material prices and transport costs. Price increases could not be passed on in full.

"The past months were again very challenging and characterised by significant geopolitical and economic turbulences. But Uzin Utz showed many strengths that make us confident. Our customers' demand for our product solutions remained almost as high as before and we made very good use of our opportunities in the markets," Heinz Leibundgut, Chief Financial Officer of Uzin Utz, said who will retire from the company at the end of the year. Christian Richter (41), member of the Executive Board since October, will take over the Finance and Controlling, Compliance, Risk Management and Investor Relations departments from January 2023 and will succeed Heinz Leibundgut.      

“For the coming months, our dedicated employees are working on various scenarios to flexibly manage the challenges of the coming years," Leibundgut continues. In particular, this involves counteracting possible risks from the availability and price increases of raw materials and energy, bottlenecks in the supply chains, the effects of inflation, rising interest rates and the resulting macroeconomic effects at all locations.

Outlook

The continuing high demand for housing, both nationally and internationally, and the efforts of the alliance of affordable housing set up by the German government continue to make Uzin Utz confident in these economically turbulent times. With the change of legal form to a public limited company under EU law (Societas Europaea, or SE for short), the company sees itself as future-oriented and growth-oriented. Uzin Utz assumes that the result for the fourth quarter, with further growth in turnover, will continue to be burdened by the high prices for raw materials and logistics and will therefore be significantly lower than in the previous year.