By 2022, Fedrigoni had increased its sales by 37 % and passed the 2 billion euro mark. This growth applies equally to high-end labels and self-adhesive materials, as well as specialty papers.
- The Group confirms its position as the world's leading player in wine labels and specialty papers for luxury packaging, second in design papers and third in self-adhesive materials, thanks in particular to the 6 acquisitions made last year, bringing the total number of transactions since 2018 to 12.
- Fedrigoni ended 2022 with sales of 2,2111 billion euros (+37 % vs. 2021), pro forma adjusted Ebitda of 340¹ million euros (+54 %) and around 80 million in investments.
- Growth continued for both business units, which are asserting themselves in high-end segments: +43 % in sales for specialty papers and +31 % for self-adhesive materials.
- CEO Marco Nespolo comments: " 2022 was a year of profitable and responsible growth, despite an unstable geopolitical context and supply chain disruptions. A flexible business model, a focus on innovation, constant transformation and the involvement of our employees have enabled us to confirm our position as the world's leading producer of wine labels and specialty papers for luxury packaging. "
The Fedrigoni Group, one of the world's leading players in high-end labels, self-adhesive materials and specialty papers for luxury packaging and other creative solutions, has closed 2022 by surpassing the 2 billion euro sales mark: 2.2 billion versus 2021's 1.6 (+37 %), distributed between Italy (504 million, +44 %), the rest of Europe (1,054 million, +36 %) and the rest of the world (653 million, +31 %), with adjusted pro forma Ebitda of 340¹ million (+54 % versus 2021) and around 80 million euros of investments (over 60 in 2021).
This growth concerns both of the company's business units, which in recent years have been repositioned in high-end product segments. Sales of labels and self-adhesive materials reached 1,307 million euros (+31 %), while sales of specialty papers for luxury packaging and other creative solutions reached 904 million euros (+43 %). Today, Fedrigoni employs over 5,000 people in 28 countries, has 68 production plants and slitting and distribution centers, and distributes 25,000 products in 132 countries; the Group is the world's leading player in both luxury packaging and high-end wine labels, third in self-adhesive solutions for industrial use (pharmaceuticals, food and beverages, household and personal care products) and second in art and creative papers.
" 2022 will have been another year of profitable and responsible growth for Fedrigoni, despite a difficult economic climate. unstable geopolitical context and supply chain disruptions "comments CEO Marco Nespolo. " Our Group is a flexible, innovation-driven business model. Its constant transformation and the involvement of our employees have enabled us to confirm our position as world leader in the production of wine labels and special papers for our mission: to create materials that are sources of inspiration for our customers. for brands worldwide. The year ended on a positive note with the entry of in the shareholding of a new private equity fund, BC Partner, which has supported Bain Capital in our growth trajectory over the next five years, and the entire the management team reinvested in the company. "explains Marco Nespolo.
" Since 2018, Fedrigoni has undertaken a profound transformation in terms of product ranges, geographical presence, go-to-market, operating model, culture and governance "continues Marco Nespolo. " In 2022, we pursued our acquisition plan, with six operations in the United States, Turkey, Spain and France, bringing the total number of mergers to 12. acquisitions over the past four years. In the self-adhesive segment, Spain's Divipa, French RFID solutions specialist Tageos and Turkey's Unifol are now part of the Group. This has enabled us to expand into the coating film segment for vehicles; as for specialty papers, in addition to the acquisition of Spanish company Guarro Casas and France's Zuber Rieder, we signed an agreement with American Mohawk to expand our presence in the United States. The year 2023 began with two major operations: a industrial partnership with a specialized translucent paper manufacturer in China, and the acquisition of a research and development center in Grenoble, France (both of which were part of the Group's R&D strategy) part of the Arjowiggins Group, which filed for bankruptcy last September). But that's not all. We we have also made progress on all fronts of our strategic plan: from improving our supply chain to the innovation of ever more distinctive and sustainable products, from the attention to customer experience to the creation of a safety-focused working environment and development of our employees while remaining focused on our impact environmental and social. "
Commitment to sustainability underpins the entire Fedrigoni strategy, which in June 2022 was awarded the Platinum Medal by the international Ecovadis agency, placing the Group in the top 1 % of companies in the same sector for ESG performance. The most complex operation involves reducing CO₂ emissions by 30 %. Other targets for 2030 include a 10 % reduction in water requirements (of which 97 % is returned clean to the environment), the recovery of all waste with a view to complete circularity, and a product offering comprising only recyclable special papers and self-adhesive materials suitable for recycling or reuse. Fedrigoni's priorities in terms of product innovation include supporting customers in the ecological transition: from replacing plastic with paper to recycling waste in a logic of circularity. In the social sphere, the company is committed to creating a safer, more inclusive environment: from reducing workplace accidents (the target for 2030 has risen to -85 % compared with 2020, from -67 % previously) to increasing the number of women in management positions, which is expected to be 35 % by 2030 (from 30 % previously).
" The first months of this year have not been easy. "concludes the CEO, " demand continues to be extremely volatile, as shown by the slowdown in volumes: sales in the 492 million in the first quarter, down 5 % on 2022. However, the decline in sales is well below the industry average of between -12 % and -20 %. Our solid industrial plan, our flexibility and our ability to adapt production to we were able to limit the impact. We are now seeing positive signals from the market share. At last, energy and raw material costs are falling, and the markets that we serve - luxury goods, wines and spirits, pharmaceuticals, etc. - are doing well. - are doing well and we are gaining market share in all sectors. That's why we remain optimistic and believe that the economic situation will gradually improve over the course of the year. Our Our long-term vision and ambition remain unchanged: to become a world leader in our sectors. business with increasingly durable products, accelerating our expansion in the United States and in Asia. "
