Grifal Group approved the Group’s updated Consolidated Annual Financial Report as of 12/31/22. Among the many positive indicators listed below and available in the official statement Investor Relations, stands out, for example, the growth of cArtù®, l’innovative environmentally sustainable corrugated cardboard, whose sales increased from €6.2 million to €12.2 million and now accounts for about one-third of consolidated Group revenues.
Key economic and financial figures show that 2022 was also an extraordinary year for Grifal Group:
- 36.9 Million € in revenues (+41% vs 2021)
- 4.4 Million € EBITDA (+108% vs 2021)
- 12% EBITDA margin (+47% vs 2021)
The message from Fabio Gritti, CEO of Grifal Group
“Theyear 2022 has been confirmed as an extraordinary year for our Group; the numbers confirm what all our Collaborators and Partners were hoping for.
The market recognizes and rewards the qualities of our products: attention to the environment, sustainability, innovative techniques and flexibility, values that in a complex period like the one we are experiencing in Europe allow us not only to maintain our competitiveness but even to gain market share.
The significant growth rate, both in volume and profitability, confirms the soundness of our strategic choices, among which I would like to mention the very low energy impact in the processing of our flagship product, cArtù®. This has enabled us to overcome the significant increase in energy costs without any particular problems, giving us an additional competitive advantage over other market players.
We also made agreements useful for the development of a European network of production sites dedicated specifically to the production of cArtù®, a project that started during 2022 with the increase and subsequent optimization of production at the unit located in Romania and then materialized at the beginning of 2023 with the establishment of the company Seven cArtù Lda, which is equally owned with our Portuguese partners in the José Neves Group.
During the year 2022 we also completed the expansion of the Cologno al Serio site, which will enable us during 2023 to further increase our production capacity and cope with the growing supply demands from the market.”
Investor Relations
The full press release, available in the Investor Relations section, provides full details on financial indicators, major activities in 2022, significant events since 12/31/22, and business outlook.