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Poland Furniture Report - 2014

Poland Furniture Report - 2014

This report covers the market developments in FY 2013, January-November 2014 and the data available as of December 2014.

The Polish furniture sector managed to cope with the difficulties related to shrinking external and domestic demand in 2013 and in January-November 2014 and remained among the leading EU producers and exporters.

The furniture output returned in the positive area in 2014, after having declined in 2013 in almost all categories, driven downwards by the producers’ downsizing capacities in order to adjust to lower external and domestic demand. In January-November 2014, statistical data reveal double-digit y/y growth of output for all categories.

The main growth driver for furniture production is external demand, since approximately 78% of output is exported. In 2013, furniture exports increased by 8.3% y/y to over €6.7bn and in 2014 the exports are forecasted to reach €7.3bn, according to market data.

Poland is currently the third largest furniture country at European level. The sector employs around 140,000 persons (ranking 1st in the EU by employment) in 14,421 companies.

Key points:
• Poland remains among leading European furniture producers, exporters
• Furniture exports expected to hit record level for second consecutive year in 2014
• Sold production value returns on upward path in 2013, accelerates growth in Jan-Nov 2014
• Furniture output volume increases at double-digit annual pace in Jan-Nov 2014
• Ikea’s sales in Poland increase 14% y/y in FY 2014
• Nowy Styl launches production facility in Jaslo, following €26mn investment
• Polinova Polska starts construction of furniture factory in Wagrowiec


Executive summary 4
Market overview 5
Poland remains among leading European furniture producers, exporters 5
Profitability, sales revenues of furniture companies rise in 2013, Jan-Sep 2014 7
Furniture exports expected to hit record level for second consecutive year in 2014 8
Furniture, radio, TV, household appliances retail sales grow 2.3% y/y in October 2014 9
Sold production value returns on upward path in 2013, accelerates growth in Jan-Nov 2014 10
Furniture output volume increases at double-digit annual pace in Jan-Nov 2014 11
Corporate news 12
Forte reports double-digit y/y hike of revenues, profit in Jan-Sep 2014 12
Ikea’s sales in Poland increase 14% y/y in FY 2014 13
Ikea opens largest sawmill in Poland, in Stalowa Wola 13
Nowy Styl launches production facility in Jaslo, following €26mn investment 14
Nowy Styl acquires 50% stake in Turkish TCC The Chair Company 14
Meble Negro plans to expand plant in Czarne 14
Polinova Polska starts construction of furniture factory in Wagrowiec 14
Paged reports improving profit, lower sales in Jan-Sep 2014 14
Germany’s Homanit continues expanding production facilities in Poland 15

Table 1 Furniture consumption in Poland vs EU28, 2012, breakdown by national production, imports (% shares, €mn) 6
Table 2 EU 28 top five furniture producers in 2003-2012 (index number 2003=100) 6
Table 3 Furniture production in Poland vs EU28, 2012 (%, €mn) 6
Table 4 Furniture exports/production ratio in Poland vs EU 28, in 2003-2012 (%) 6
Table 5 Top 15 furniture producers- Selected financials (PLN mn, latest available year) 8
Table 6 Furniture exports by product in 2006-2013 (annual, PLN mn, y/y) 9
Table 7 Furniture production volume in 2011-2014 (thou units, y/y) 12
Table 8 Forte S.A.- Selected financials in 2012-2014 (PLN thou) 13
Table 9 Paged S.A.- Selected financials in 2012-2014 (PLN thou) 15

Figure 1 Furniture industry- Net turnover, profitability rate in 2009-2014 (PLN mn, %) 7
Figure 2 Number of furniture manufacturing enterprises in 2008-2014 (annual, 9M) 7
Figure 3 Furniture exports to the world in 2007-2017f ($ bn, annual) 9
Figure 4 Main destinations for furniture exports in 2013 (PLN thou, % in total) 9
Figure 5 Main import sources for furniture in 2013 (PLN thou, % of total) 9
Figure 6 Furniture, radio, TV and household appliances retail sales index in 2008-2014 (monthly, y/y) 10
Figure 7 Furniture sold production value in 2010-2014 (PLN mn) 10
Figure 8 Furniture gross output in 2007-2017f ($bn, annual) 11
Figure 9 Furniture production in 2007-2017f, selective indicators ($mn, y/y) 11
Figure 10 Furniture production volume in 2011-2014 (thou units, y/y) 1

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