Following the new Sustainability Report, Grifal Group approved the Group’s first Consolidated Annual Financial Report updated to December 31, 2021.
Key economic and financial indicators demonstrate the growth of market interest, both Italian and international, in the packaging solutions offered by the Group. Among these it is possible to highlight:
- 26.1 Million € in revenues (+55% vs 2020)
- 2.1 Million € EBITDA (+121% vs 2020)
- sales of packaging solutions based on cArtù®, theinnovative environmentally sustainable corrugated cardboard, rise to 23% of Group revenues and are also a strong driver for overseas sales, these having reached 25% of total sales
The message from Fabio Gritti, CEO of Grifal Group
“FY2021 was marked by a number of extraordinary activities. We carried out the acquisition of Cornelli BPE Srl, the acquisition of Tieng Srl, and the transfer from Grifal SpA to Tieng Srl of the cArtù and Mondaplen machine design and production area.
We started the production of cArtù in Romania with Grifal Europe Srl and the construction of more than 6,000 new square meters of production area adjacent to the Cologno al Serio plant, with the acquisition of the area and the start of the works. We continued the development of the new cArtù 4.0 production line.
Fabio Gritti, CEO of Grifal Group
We began promotion and training activities in the Grifal Group Innovation Hub at the Kilometro Rosso technology district in Bergamo.
Positive order trends in the first months of 2022 make us confident about an improvement in margins and expected cash flows.
A series of activities are underway to rapidly and significantly increase production capacity to meet the massive demand for packaging products with the environmentally sustainable characteristics of our cArtù and cushionPaper.
Despite the fact that the international situation creates concern, our strategy to create a network of production sites dedicated to the production and processing of cArtù® and the sale of environmentally sustainable packaging solutions based on this material is showing its full validity.”
Investor Relations
The income statement and balance sheet figures as of December 31, 2021 are consolidated figures following the acquisitions by Grifal S.p.A. of Tieng S.r.l. and Cornelli BPE S.r.l in the first quarter of 2021. The main economic items on a like-for-like basis can be found in the section “Main economic results of the parent company Grifal S.p.A.,” see the official press release available in the Investor Relations section.