Maribor - Lumar, a Maribor-based maker of prefabricated energy-efficient homes, generated a record EUR 19.2 million in revenue in 2021 and finsihed the year with a net profit of EUR 1.2 million, just under the 2020 figure.

Despite the unpredictability brought about by the Covid pandemic, there is great demand for Lumar's "almost zero-energy" houses and sustainable products, its director Marko Lukić said in the company's annual report.

Sales in Slovenia dropped slightly to EUR 15.2 million, but increased to EUR 4 million in foreign markets, where Austria is Lumar's largest market.

Profit too was a bit below that in 2020, mostly due to higher prices of inputs and services.

Lumar took a number of measures to mitigate the impact of the price hikes, but it nevertheless expects them to have an impact on its business.

The prices of materials and energy increased by 10-40% and in case of wood, by around 150%.

Despite the tremendous pressure on prices, people still buy a property as a safe and stable investment that maintains a high added value in the long term, said Lukić.

This is why Lumar is seeing growth in demand and exceptionally good sales, while not encountering any major problems or delays in the supply of raw materials, he said.

Last autumn, the company with around 85 employees entered a strategic partnership with iQwood, a small producer of innovative and sustainable solid wood products.

Lukić said at the time the tie-up was worth EUR 1.5 million, with most of the investment being a capital injection for iQwood to expand production and export its end-products.

The Mengeš-based firm has developed technology for manufacturing solid wood walls without glue, which is an advantage in terms of ecology and a healthy living climate.

Its production capacity was planned to expand from around 2,000 cubic metres of wood in 2021 to 5,000-10,000 cubic metres in three to five years.