2023 outcome
We have now closed the financial year 2023 and can summarise a year with challenging market conditions. The year was characterised by high inflation and high interest rates which has affected the general demand negatively.
The US flooring market has held up better than the European, which has been positive for our license revenues but the weak European market has led to decreased volumes of Woodura.
We have geared up our activities, especially related to Woodura sales but also in our licensing business, but it has not translated into stronger revenues due to the difficult market conditions.
The Floor locking business is performing satisfactory mainly driven by a decent market for resilient flooring. In the Furniture locking business we have signed quite a number of new licensees, but the license revenues are still below our objectives.
Budget 2024
Our key focus areas include;
