Homan Holzwerkstoffe GmbH reported adjusted EBITDA of Euro 16.1 million for the second half of 2025, down from Euro 27.9 million in the same period last year, primarily due to operating start-up losses at the new plant in Pagiriai, Lithuania.
Revenues increased by 2.5% to Euro 188.1 million, driven by a volume effect as prices remained largely constant. The EBITDA margin based on total output stood at 8.2%, compared to 15.5% a year earlier.
Excluding the start-up losses from the Lithuania facility, the company’s existing plants generated adjusted EBITDA of Euro 27.2 million, slightly below the Euro 30.8 million recorded in the prior-year period. The decline was mainly attributable to a higher cost of materials ratio and increased other operating expenses. The consolidated result for the half-year was a loss of Euro 10.1 million, compared to a profit of Euro 6.3 million in the same period of 2024.
Group equity amounted to Euro 186.3 million as of December 31, 2025, representing an equity ratio of 30.0%. The decrease from Euro 197.1 million at the end of 2024 was due to the negative half-year result and currency translation effects.
On November 3, 2025, the company concluded a settlement agreement regarding its joint venture in Egypt, selling its shares back to the joint venture partner and terminating pending arbitration proceedings.
The company confirmed its full-year 2025 forecast, with revenues expected at Euro 383.1 million, slightly up from the prior year, and adjusted EBITDA expected to decrease to Euro 38.2 million. The new plant in Pagiriai is progressing through its planned ramp-up phase, with start-up losses expected to be overcome as operations advance.
Homann Holzwerkstoffe GmbH, headquartered in Munich, is a manufacturer of thin, highly refined, medium-density and high-density wood fiberboards (MDF/HDF).