VPK Group has reported on its performance in 2021, confirming turnover reached €1.75 bn, a 28% increase compared with previous year. The group’s paper machines recycled 1.4 million tonnes of recovered paper.
Due to inflationary pressure, the increase in EBITDA was limited to 7% to reach €212m. Net operating profit remained stable at €88m. 2022 is equally characterised by a significant increase in raw material and energy costs.
“The group’s strategy is marked by a strong long-term vision and continuing efforts to achieve sustainable growth, in both economic and ecological terms,” said Pierre Macharis, CEO. “The continued rise in raw material and energy costs in the first quarter of 2022 is putting enormous pressure on margins. Despite the challenges we face today, the demand for sustainable and protective packaging continues to rise. VPK Group expects continuing growth in all the segments in which it is active. As a company we are also continuing to work on our energy transition, reducing and decarbonizing our energy consumption by systematically transitioning to biomass, cogeneration and efficient use of residual heat on our sites.”