Kährs adjusts capacities and introduces further efficiency plans to mitigate lower demand into 2024
The low demand in the Residential segment linked to increased interest rates and a high cost inflation expects to continue into 2024, especially in Europe.The demand for flooring solutions continues to go down, in both renovations of private homes and in new built, especially in Europe. Within new built the demand is expected to fall sharper towards the second half of 2023 and be weak until 2025. The renovation segment is expected to recover a bit from low levels in 2023 into 2024, when the destocking among major customers is in balance and the consumers’ willingness to invest in their