The paper manufacturer also recorded an adjusted EBITDA for the period of €250m and a pro forma adjusted EBITDA – which takes into account the impact of M&A, synergies, and operating efficiencies – of €258.7m.
The company said its results exceeded “the already excellent trend reflected in the 2021 annual report, which closed in December”, with a turnover of €1.602m, an adjusted EBITDA of €214.8m, and a pro forma adjusted EBITDA of €221m.
The company’s numbers for the first quarter of 2022 (January-March) showed a turnover of €517.7m and an adjusted EBITDA of €83.5m. It said this growth “shows how effectively the company is implementing its development plan at a time when the world economy has been undergoing profound disruption for over two years”.
Fedrigoni Group CEO Marco Nespolo commented: “It has been a year of great intensity which saw us moving forward on our strategic plan with determination to guarantee the full continuity of the business.
“We honoured our commitments to our customers, thanks to preventive operations on our processes, procurement, and transport, and coped with the ongoing global health emergency and the shortage and increase in the price of raw materials.
“Considering the excellent results, particularly in the last 12 months [to March 2022], we remain optimistic for the future despite the tensions because of the war in Ukraine.”
He added: “The challenge now for Fedrigoni is to continue on the path of sustainable growth and innovation, following a plan that rests on five fundamental pillars: a range of increasingly distinctive premium offer, an effective and exclusive relationship with each customer, excellence in production and procurement, the creation of an inclusive environment focused on people development, and acquisitions aimed at geographical expansion and diversification of the offer, in the world of premium labels and self-adhesive materials, and luxury packaging and other creative solutions.”
Established in 1888, Fedrigoni currently has 4,500 employees in 27 countries and sells and distributes its products in 132 countries.
