Italy-based Favini's H1 EBITDA climbs 8% year-over-year to €10M as sales climb 9% to €68.8M; company credits new innovations, higher brand recognition
ROSSANO VENETO, Italy
September 10, 2013
– Favini SRL announces 2013 headline figures for the 6 months to June. During this period the group posted sales of 68.8 M€, up 9.3% vs. 2012; EBITDA also improved in the period by around 10%.
In 2012, where the financial year was characterised as a year of rising energy and pulp prices, with recession in key markets, EBITDA was strong at €10m (8.3%) on a turnover of €119m.
These results follow a series of activities deepening Favini’s market development with new innovations and higher brand recognition. ‘Crush’ was launched in Monaco, winning the prestigious ‘Luxepack in Green’ award; Security paper business reached a critical mass; Release paper division launched several fashionable grains and consolidated its market share in key markets. Supporting communication strategies and internet activity were improved, leading to a higher level of ‘Favini’ brand awareness and market salience.
Overall, in speciality papers Favini is increasing its market share in a challenging market. The graphic papers division is performing well despite a strongly declining domestic market. Sales in some other European markets and many emerging economies are growing strongly as the business rebalances its dependence on the Italian market. The Release division shows excellent results after suffering in the first half of 2012 from a general market contraction. The Converting division remains strong with a consistent and excellent record of profits.
Commenting, Andrea Nappa, Favini CEO, said ‘Favini is building year on year – building a reputation for innovation, exciting products and tailored solutions enabling it to grow and increase share in a market facing significant structural changes. I believe we are strongly positioned to further improve our mix and continue to take market share’