Uzin Utz narrowly misses the record sales revenues of the previous year and is slightly below the previous year's earnings before interest and taxes

Uzin Utz (ISIN DE 000 755150 9; General Standard), a global full-range supplier of flooring systems based in Ulm, Germany, was able to reduce the year-on-year decline in EBIT up to the third quarter by the end of the year. According to the unaudited IFRS figures, earnings before interest and taxes (EBIT) amounted to EUR 34.5 million, down slightly by 5.1% compared to the previous year (EUR 36.3 million). Group sales revenues amounted to EUR 479.3 million, compared to EUR 487.1 million in the previous year. This corresponds to a fall in sales of 1.6%. The audited figures will be published on the website on March 28, 2024 after adoption of the Annual Financial Statements of Uzin Utz SE and approval of the Consolidated Financial Statements.

In the 2023 financial year, the development of the factors affecting the construction industry also had an impact on the sales markets relevant for Uzin Utz. The already tense mood in the industry deteriorated further due to a number of factors. These factors include weak global economic development, persistent inflation and a notable turnaround in monetary policy, which has led to a significant rise in interest rates. Despite the challenges posed by various factors in the core markets, which led to a decline in overall construction output, Uzin Utz succeeded in demonstrating its resilience. With sales revenues of EUR 479.3 million, the company achieved a performance that almost matched the high level of the previous year. EBIT was lower than in the previous year due to the same factors as in the previous three quarters. While some cost items slowly normalized during the year, personnel expenses rose disproportionately in relation to the increase in the number of employees. Furthermore, exchange rate effects and the increase in depreciation had a negative impact on EBIT. Nevertheless, the decline in earnings up to the third quarter was reduced in the fourth quarter. This was largely due to the lower material usage ratio compared to the same quarter of the previous year, whose decline was also influenced by inventory change effects, as well as positive cost effects from further ongoing cost-saving measures.