Fabriano – Fedrigoni ended 2023 with a turnover pro forma of 1.8 billion euros divided between 1,100 million of the Self-Adhesives business unit and 708 million of Special Papers, down 10% compared to the record results of 2022 but with increasing margins.
Ebitda rose by 8% from 314 million euros in 2022 to 338 million in 2023 demonstrating the solidity and profitability of the company despite the decline in sales and volumes in both businesses of the multinational.
One of the key factors in the growth strategy is the increasingly global scale of the Group, both in terms of the presence of offices and production sites in 28 countries and in terms of diversification of revenues, of which 21% come from the Italian market, for 49% from the rest of Europe and 30% from the rest of the world.
2024 has started with signs of optimism: the first quarter in fact recorded growth in volumes in both business units with estimated revenues of 470 million euros, up 10.9% compared to Q4 2023 and 2.4% compared to Q1 2023.
«2023 was a year of great volatility, driven by geopolitical instability, excess inventories in many value chains and an unfavorable macroeconomic environment – comments Marco Nespolo, CEO of Fedrigoni – we continued to gain market share across all sectors and geographies, closing the year with stable financial results, and we once again demonstrated the resilience of our business model. Looking to 2024 the first quarter started positively, with a recovery in demand. However, we still find ourselves in a highly volatile market context of great geopolitical instability due to global conflicts in which agility and adaptability remain fundamental: we expect this schizophrenic market trend to characterize the coming yearswith large fluctuations in orders, which will require much more flexibility».
The great focus on the industrial plan brought Fedrigoni not to take a step back on its growth strategiesdespite slowing demand last year. In fact, between the end of 2023 and the first months of 2024, four M&A transactions were completed on three continents, and two financial operations that have further improved the already solid capital structure.
