Progroup AG, the German paper making and sheet feeding specialist, has posted its results for the full year 2020.
Turnover reached €881m, down slightly on the same period in 2019 (€887m). EBITDA was €178m, down from €223m in 2019; this was an EBITDA margin of 20.2%.
“In the financial year 2020, Progroup achieved substantial sales volume growth in both the corrugated board as well as the containerboard business despite the ongoing coronavirus pandemic,” explained Jürgen Heindl, CEO. “The price levels for both corrugated board and containerboard declined in 2020. Due to further normalised sales prices, overall sales slightly declined. At the end of the year, price levels increased.”
During the last year, the company still managed significant start-up projects, including PM3 paper mill in Sandersdorf-Brehna, as well as the PW12a ‘Packaging Park’ in the UK with Krystals and PW13 in Eisfeld, Germany.
