The Board of Directors of Grifal approved the Group’s Consolidated Half-Year Financial Report as of June 30, 2023. The main evidence that emerged:
- Revenue 19,392,737 euros (18,564,121 euros as of June 30, 2022)
- Value of Production Euro 20,926,952 (Euro 20,671,649 as of June 30, 2022)
- EBITDA Euro 2,671,605 (Euro 1,947,759 as of June 30, 2022)
- EBIT Euro 1,202,955 (Euro 489,168 as of June 30, 2022)
- Net profit Euro 570,036 (Euro 121,202 as of June 30, 2022)
- Negative net financial position (net debt) of 20,801,685 Euros (18,865,018 Euros as of December 31, 2022)
- Shareholders’ equity of 18,180,366 euros (17,696,371 euros as of December 31, 2022)
Fabio Gritti, president and CEO of Grifal, commented as follows:
“In this first half of the year, the company’s growth in both revenues and margins confirms the validity of our business model based on innovation and sustainability, even in a difficult economic phase for the industrial sector.
In recent months a major reorganizational effort has been brought into the improvement of the corrugator engineering and production area with the inclusion of a dedicated general manager.
Great effort has been put into the completion of the new production area cArtù® where the start-up of production lines is underway and will be completed within the year.
We started the joint venture in Portugal SEVEN CARTÙ for which we are building the production line that will be installed in early 2024.
The project on cArtù® converting machines that will be offered to the corrugated board converter market and packaging users is at an advanced stage.
The ongoing collaborations with some large partner companies, to which we offer support in research and development, are continuing very positively, and we expect important developments from them over the coming months.”
Grifal Group’s Proposal for sustainable and cost-effective packaging solutions continues to attract and convince new customers: the first half of 2023 closes with Consolidated revenues of 19,392,737 Euros, in line with the Preliminary revenues released last July 24., grew by 4.5 percent compared to the corresponding period of 2022 (18,564,121 euros) and in contrast to the market marked by a generalized reduction in volumes and revenues.
The growth of the Group’s flagship product (sales of cArtù® reached 34 percent of Group revenues) continued, as did that of foreign sales whose share reached 27 percent of the total.
The full press release is available in the “Financial Press Releases” section of the Investor Relations area.