{"id":42137,"date":"2022-03-31T09:23:00","date_gmt":"2022-03-31T09:23:00","guid":{"rendered":"https:\/\/www.grifal.it\/financial-results-2021\/"},"modified":"2025-01-27T09:25:24","modified_gmt":"2025-01-27T09:25:24","slug":"financial-results-2021","status":"publish","type":"post","link":"https:\/\/www.grifal.it\/en\/financial-results-2021\/","title":{"rendered":"Consolidated Financial Report 2021: +55% revenue, +121% EBITDA"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Following the new <a href=\"https:\/\/www.grifal.it\/bilancio-sostenibilita-2020\/\">Sustainability Report<\/a>, Grifal Group approved the <strong>Group&#8217;s first Consolidated Annual Financial Report<\/strong> updated to December 31, 2021.<\/p>\n\n<p class=\"wp-block-paragraph\">Key economic and financial indicators demonstrate the <strong>growth of market interest<\/strong>, both Italian and international, in the <a href=\"https:\/\/www.grifal.it\/progettazione-di-soluzioni-imballo-su-misura\/\">packaging solutions<\/a> offered by the Group. Among these it is possible to highlight:<\/p>\n\n<ul class=\"wp-block-list\">\n<li>26.1 Million \u20ac in revenues (+55% vs 2020)<\/li>\n\n\n\n<li>2.1 Million \u20ac EBITDA (+121% vs 2020)<\/li>\n\n\n\n<li>sales of packaging solutions based on <strong>cArt\u00f9\u00ae<\/strong>, the<a href=\"https:\/\/www.grifal.it\/materiali\/cartu\/\">innovative environmentally sustainable corrugated cardboard<\/a>, rise to 23% of Group revenues and are also a strong driver for overseas sales, these having reached 25% of total sales<\/li>\n<\/ul>\n\n<h2 class=\"wp-block-heading\"><strong>The message from Fabio Gritti, CEO of Grifal Group<\/strong><\/h2>\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-7387b849 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p class=\"wp-block-paragraph\">&#8220;<em>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 cArt\u00f9 and Mondaplen machine design and production area.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>We started the production of cArt\u00f9 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 cArt\u00f9 4.0 production line.<\/em><\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"718\" height=\"552\" src=\"https:\/\/www.grifal.it\/wp-content\/uploads\/2023\/06\/Fabio-Gritti_relazione-finanziaria-consolidata.png\" alt=\"\" class=\"wp-image-32925\" srcset=\"https:\/\/www.grifal.it\/wp-content\/uploads\/2023\/06\/Fabio-Gritti_relazione-finanziaria-consolidata.png 718w, https:\/\/www.grifal.it\/wp-content\/uploads\/2023\/06\/Fabio-Gritti_relazione-finanziaria-consolidata-300x231.png 300w\" sizes=\"(max-width: 718px) 100vw, 718px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Fabio Gritti, CEO of Grifal Group<\/p>\n<\/div>\n<\/div>\n\n<p class=\"wp-block-paragraph\"><em>We began promotion and training activities in the Grifal Group Innovation Hub at the Kilometro Rosso technology district in Bergamo.<\/em><\/p>\n\n<p class=\"wp-block-paragraph\"><em>Positive order trends in the first months of 2022 make us confident about an improvement in margins and expected cash flows.<\/em><\/p>\n\n<p class=\"wp-block-paragraph\"><em>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 cArt\u00f9 and cushionPaper.<\/em><\/p>\n\n<p class=\"wp-block-paragraph\"><em>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 cArt\u00f9\u00ae and the sale of environmentally sustainable packaging solutions based on this material is showing its full validity.&#8221;<\/em><\/p>\n\n<h2 class=\"wp-block-heading\"><strong>Investor Relations<\/strong><\/h2>\n\n<p class=\"wp-block-paragraph\">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 &#8220;Main economic results of the parent company Grifal S.p.A.,&#8221; see the <a href=\"https:\/\/www.grifal.it\/comunicati\/\">official press release<\/a> available in the Investor Relations section.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Grifal Group 2021 financial results are available. Market interest in environmentally sustainable packaging solutions based on cArt\u00f9\u00ae continues to grow.<\/p>\n","protected":false},"author":12,"featured_media":32924,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[254],"tags":[259,274,263],"class_list":["post-42137","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investor-relations-en","tag-fabio-gritti-en-4","tag-grifal-group-en-2","tag-italian-stock-exchange"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Consolidated Financial Report 2021: +55% revenue, +121% EBITDA<\/title>\n<meta name=\"description\" content=\"Grifal Group financial results available. 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