23.11.2020

Swiss Krono planning additional investments

 

Menznau LU – Due to the coronavirus pandemic, sales at Swiss Krono were down in the previous financial year to the end of September 2020. The Lucerne-based wood processing firm is, however, looking ahead to the future with renewed confidence. For the current financial year, the company is planning investments totaling 180 million euros.

 

In the financial year to the end of September 2020, Swiss Krono generated total sales amounting to approximately 1.7 billion euros, according to a report in the newspaper “Luzerner Zeitung”. In comparison with the previous year, this equates to a decline of 4 percent. Following severe declines in spring, sales did therefore begin to recover over the final few months of the financial year.

 

A quote from Georg Mäder, Chief Sales Marketing Officer at Swiss Krono, that featured in the wood processing company’s press release announcing its annual financial results was also published in the “Luzerner Zeitung” article: “We are pleased that, despite the difficult market conditions of the last few months, we can look back on a satisfactory result given the circumstances. Our efforts were successful not least thanks to quickly and efficiently implemented crisis management”.

 

Looking ahead to the future, the company is cautiously optimistic. For the coming year, the situation continues to look bleak due to the ongoing pandemic, according to CEO Martin Brettenthaler, who is quoted in the same press release. However, over the medium term, he is convinced that “even in a difficult global economic situation, the demand for high-performance, CO2-neutral and, therefore, sustainable wood material will develop favorably for us”.

 

For the current financial year, the Group, which operates on a global basis, has therefore planned to make investments totaling 180 million euros. The majority of this volume has been earmarked to expand the company’s Sharya site in Russia. More detailed information on the funds set aside for investment projects in Switzerland have not been disclosed by Swiss Krono, according to the report in “Luzerner Zeitung”. However, after contacting the company, the newspaper was told that Swiss Krono “continually invests tens of millions each year in technology, environmental protection and new products” at the Menznau site in the canton of Lucerne.


Swiss Krono



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