Eurobaustoff sales suffer massively in the first half-year

The course of business so far this year has brought a considerable decline in turnover for the German speciality trade cooperative Eurobaustoff. By mid-June, centrally invoiced turnover had dropped by around 16 per cent. Taken on their own, the figures are not "super-critical", not least against the background of double-digit growth rates in 2020 and 2021 as well as an increase of 9.03 per cent to EUR 9.082 bn in centrally invoiced turnover last year, said Dr Eckard Kern, chairman of the board of management, at the shareholders' meeting. "We had great years," said Kern in summary. Now, however, a decline in volume is facing the cooperative.

Eurobaustoff is the largest trading group in building materials, wood and tiles in Europe. Kern criticised the German government's housing construction policy with unclear guidelines and a wrong subsidy policy, especially for the German market.

His managing director colleague Hartmut Möller also pointed to the critical situation of stocks in the building materials trade. The background to this is high stockpiling until the end of 2022, while now goods are not flowing out in sufficient quantities because construction projects are stalling. For the group's retail activities, the head office expects satisfactory availability of goods again, but also buying restraint among customers and fierce price wars. Declines in the high single-digit range are to be expected.

Boy Meesenburg, chair of the supervisory board of Eurobaustoff, informed the shareholders about an important personnel update: the contract of Dr Eckard Kern, which was due to expire in 2024, has been extended by another five years to 2029.