The eighth-generation, German papermaker has posted sales up 22.4% to €941m (£793m), while operating profits rose 13.7% to €76m. 

“The conditions in the industry were marked by huge price hikes in the energy markets. Revenues in the reporting year are characterised by a rise in sales volumes and price increases, which could be made on the basis of rising raw materials prices and energy costs on the market,” the firm stated. 

Koehler said it expected “further significant growth in turnover” for the current financial year, and said that its strong balance sheet would safeguard the company's independence. 

The group makes a range of specialty paper and board and has five mills in Germany, with 70% of its output exported. 

CEO Kai Furler commented: “We are delighted to have been able to meet our customers’ expectations in the past financial year and to have significantly increased our turnover despite the difficult conditions.”

However, despite the strong results the group also warned that supply chain issues would remain challenging. 

“The Russian invasion of Ukraine has further exacerbated these problems. Added to this is the difficult energy situation, which is seeing global prices for goods rise even further. The situation is being made worse due to the limited availability of ship capacities and sea containers,” the group noted. 

At its Oberkirch site Koehler is just coming to the end of a summer shutdown for maintenance and updating of the equipment and power plant. 

The site has three paper machines and makes carbonless, décor and other specialty papers. The phased re-start should be completed this week.  

By 2030 Koehler’s Renewable Energy business unit aims to generate more energy from renewable sources than it needs for its own paper production facilities.