US furniture manufacturer Knoll has reported its highest quarterly sales ever.
Q4 2018 sales were $354.6 million, up 12.2% from the prior year period, as its acquisition of Scandinavian office furniture brand Muuto continued to deliver a solid top-line performance. Adjusted EBITDA was $50.4 million, an increase of 23.1%.
In the company’s Office segment, sales growth of 1% to $212 million was driven by newer workplace platforms and ancillary products, offset by a slight decline in legacy systems. Adjusted EBITDA for the division was up 2.7% to $22.5 million.
For FY2018, Office sales increased 8.2% to $782 million due, while adjusted EBITDA rose 12.8% to $80.1 million.
Knoll CEO Andrew Cogan said: “Our efforts to diversify our sources of revenue into higher margin Lifestyle categories, combined with efforts to improve the profitability for our Office segment, are leading to better than industry top-line growth and margin expansion. We are well positioned to continue to build on these initiatives and benefit from the trend to more social and hospitality-based workplaces in 2019 and beyond.”
Q4 2018 sales were $354.6 million, up 12.2% from the prior year period, as its acquisition of Scandinavian office furniture brand Muuto continued to deliver a solid top-line performance. Adjusted EBITDA was $50.4 million, an increase of 23.1%.
In the company’s Office segment, sales growth of 1% to $212 million was driven by newer workplace platforms and ancillary products, offset by a slight decline in legacy systems. Adjusted EBITDA for the division was up 2.7% to $22.5 million.
For FY2018, Office sales increased 8.2% to $782 million due, while adjusted EBITDA rose 12.8% to $80.1 million.
Knoll CEO Andrew Cogan said: “Our efforts to diversify our sources of revenue into higher margin Lifestyle categories, combined with efforts to improve the profitability for our Office segment, are leading to better than industry top-line growth and margin expansion. We are well positioned to continue to build on these initiatives and benefit from the trend to more social and hospitality-based workplaces in 2019 and beyond.”
