Flügger's adjusted sales decrease by 4 per cent

In the first quarter of 2021/2022, Danish paint manufacturer and retailer Flügger recorded sales in the order of DKK 736 mio (EUR 99.0 mio), an increase of 17 per cent over the same period in the previous year. Adjusted for acquisitions and currency effects, this was a decrease of 4 per cent, representing a normalisation from last year's very high sales to consumers, the company comments. After a year of working from home during the Covid-19 pandemic, many private customers are now returning to the workplace. Flügger has also stated that during the first half of the 2021 calendar year, the group's production was extremely challenged by unstable raw material supplies and dramatic increases in raw material prices.
The group owns 240 stores of its own and has 143 franchise stores. In May, the competition authorities approved the acquisition of the Eskaro Group, a Finnish company. Eskaro is a paint manufacturer with branches in six countries: Belarus, Latvia, Russia, Ukraine, Finland and Estonia. Flügger expects additional sales in Eastern Europe due to increasing activity levels in the construction industry.
On 25 June 2021, Flügger acquired the online paint supplier Malgodt.dk. With revenue of DKK 30 mio (EUR 4.0 mio), Malgodt.dk is the leading web shop for sales of paint in Scandinavia