1,760.2 million euro turnover, 250 million Ebitda Adjusted and 258.7 million Ebitda Adjusted Proforma. The trend distinguishes both of the company's divisions, labels and premium self-adhesive solutions, as well as speciality papers for luxury packaging and other creative solutions
- The group is now the world's leading supplier of wine labels and speciality papers for luxury packaging, and third in self-adhesive materials, thanks in part to the three acquisitions made last year and an additional two in the 2022 quarter.
- The key factor was the decision, driven over the past three years, to move both businesses towards the segments of the premium offering: +22.8% turnover in luxury packaging and other creative solutions +20.7% in labels and self-adhesive solutions in 2021
- Fedrigoni closed 2021 with €1,602.9 million in revenue (+21.9% vs. 2020), €214.8 million in Ebitda Adjusted (+29% vs. 2020) and 221 million in Ebitda Adjusted Proforma (+12.1% vs. 2020)
- Fedrigoni's growth has continued in the first quarter of this year (January-March 2022) with €517.7 million in revenues and €83.5 million Ebitda Adjusted.
- "It has been a very intense year, - notes CEO Marco Nespolo - but we have managed to continue with determination our strategic plan and ensure the comprehensive continuity of the business, remaining faithful to the commitments to customers without neglecting the commitment to sustainability that now permeates all our decisions".
The Fedrigoni Group, which is one of the world's largest suppliers of labels and premium self-adhesive materials and of special piers for luxury packaging and other creative solutions, has achieved 1,760.2 million euros in sales, 250 million euros in Ebitda Adjusted and 258.7 million euros in Ebitda Adjusted Proforma (between March 2021 and March 2022) in March 2022. Even better results compared to the already excellent performance reflected in the 2021 financial statements, which showed a turnover of 1. 602.9 million euro (+22% compared to 2020), distributed between Italy (393.5 million euro, +20.9%), Europe (752.2 million, +16.6%) and the rest of the world (457.2 million, +32.8%), an Ebitda Adjusted of 214.8 million euro (+29% compared to 2020) and an Ebitda Adjusted Proforma of 221 million euro (+12% compared to 2020). Extremely positive figures also for the first quarter of 2022 (January-March): 517.7 million euros in revenue and 83.5 million euros in Ebitda Adjusted. Constant growth that demonstrates the effectiveness with which our company is implementing its development plan, at a time when the global economy has been experiencing deep turbulence for two years now.
A continuous growth path that has led the Group to become the first supplier in the world of wine labels and special papers for luxury packaging and the third supplier of self-adhesive materials with 4,500 employees in 27 countries, 52 production centres, cutting and distribution and 25,000 products, to which must be added the thousands of solutions realised exclusively for the major fashion and luxury brands.
"It has been a very intense year, - notes Marco Nespolo, CEO of the Fedrigoni Group - but we have managed to continue with determination our strategic plan and ensure the comprehensive continuity of the business, remaining faithful to the commitments made to customers thanks to a preventive intervention in our processes, stocking and transport in order to face the ongoing health emergency and the shortage of raw materials and their price increase. Looking at the excellent results, especially over the past 12 months (March 2021- March 2022), we remain optimistic about the future despite tensions due to the war in Ukraine."
"We have continued our plan to attract and develop talent (over 377 have joined the Fedrigoni family worldwide, 900 in the last three years). We have continued to invest in the growth and development of our people - continues Nespolo - expanding our global presence to Europe, Latin America, USA and Asia thanks to openings in the UK, Poland, China, Indonesia, Philippines and new acquisitions to strengthen our position in the market, increase production capacity and enrich our premium product portfolio. Indeed, we acquired the American company Acucote, the Mexican Rimark and 70% of a newco in joint venture with Tecnoform, for the production of innovative solutions for thermoformed cellulose packaging, which together with the M&A operations in the first quarter of 2022 (the Spanish company Divipa and the French company Tageos specialised in RFID) led to an increase to 8 acquisitions in the last 3 years. We have also accelerated in terms of investments, with more than 66.6 million euros invested last year (+40.4% compared to 2020) to increase production capacity and develop new products; budgets that we aim to continue to increase in 2022."
Compared to the product portfolio, the repositioning - over the past three years - of the two business units towards the premium offer segments, capable of absorbing the price increases and compensating for the general increase in upfront costs, has been the determining factor. In 2021, both business lines have indeed grown in terms of volumes and sales: €700.2 million of sales in the world of speciality papers for luxury packaging and other creative solutions (+22.8% compared to 2020) and €937.6 million of that of self-adhesive labels and materials (+20.7%).
Growth that, for Fedrigoni, must also be sustainable, making progress every day and aligning it with the entire ecosystem, especially with customers and suppliers. The commitment to sustainability permeates the Group's entire strategy. Compared to the environmental impact, absolute CO₂ emissions were reduced by 1.5% with a volume increase of about 5%. Clean water returned to the environment has exceeded the 2030 target (97% against a target of 95%), recovered waste has reached 84% and volumes of products with advanced ESG characteristics have doubled. On the social front, the company is committed to creating an increasingly safe and inclusive workplace: a significant target, for example, in terms of the injury frequency index, which fell by 32% in 2021 (the 10-year target is -67%). In terms of the 2030 target of 30% women in leadership positions, the year ended at 25%. "Another important role of Fedrigoni - adds Nespolo - is to support customers in the ecological transition: from replacing plastic with greener materials such as paper, to creating self-adhesive materials made from ever more recyclable raw materials, to helping customers sustainably manage waste that is reused as raw materials in new supply chains rather than destined for landfills, according to a virtuous circle model."
For Fedrigoni, the challenge now is to continue on the path of sustainable and innovative growth by pursuing a plan based on five fundamental pillars: An ever more distinctive offer with premium products, the effective and exclusive relationship with each and every customer, excellence in production and stocking, the creation of an inclusive environment aimed at the development of people and acquisitions focused on the geographical expansion and diversification of the offer in the world of labels and self-adhesive premium materials and luxury packaging and other creative solutions.