Wood-based panels giant Pfleiderer recorded an operating loss (EBIT) of €6.5m (2009: €22.6m loss) for the first half of 2010.
Sales were boosted 6.4% to €737m as the company saw an upward trend in business in all markets except for laminate products in North America.
It said its prime goal now was to improve gross margin and reduce debt substantially by €350m in the coming years.
Volume growth in western Europe was concentrated mainly on surface-finished panels. Prices of raw panels increased but with scope for surface-finished panels to catch up.
For July and August, Pfleiderer expects weaker business for seasonal reasons, before the autumn revival starts in September.
The company predicts full-year earnings of just below €1.5bn and a net loss. But a further sustained improvement of earnings is expected for 2011.
