Deceuninck FY2020 Financial Results: Strong Performance, Continued Growth in North AmericaMarch 4th, 2021 by Editor
Deceuninck Group resumed a profitable growth track in fiscal year 2020, with an adjusted EBITDA and the company is reporting net results reaching their highest levels of the last decade. The Group says the performance was buoyed by continued growth in North America.
Deceuninck North America 2020 sales increased by 20%, for a total of US$183,361,939. While demand was erratic and unpredictable, the overall impact of Covid-19 on total 2020 volumes remained limited.
“I am impressed by the drive, commitment, and flexibility of our customers, partners, and colleagues around the world. It is thanks to all of them that our company is weathering this storm so well,” said Francis Van Eeckhout, CEO of Deceuninck.
The Group’s strategic projects remain on track, including further investments in the sustainability of products and production processes and capacity expansions in the U.S. New lines that came online at Deceuninck North America’s facility in Monroe, Ohio, at the end of 2020 resulted in a 10% increase in extrusion capacity. In addition, a further 20% capacity increase is in progress for 2021. The company is also growing its workforce and actively recruiting.
“We are looking to and investing in the future,” said Joren Knockaert, president and CEO of Deceuninck North America. “Over the last decade, we notched double-digit growth (10%) spurred by strong business development, operational investments, and the roll out of innovative products. We will continue to focus on our customers, our people, and deliver solutions to better serve the industry.”
Deceuninck’s performance in 2020 has continued in the first weeks of 2021 with high growth in all regions.