Nordenia reports 9.9 percent sales growth in 2011
Flexible packaging manufacturer's sales rise to €880.8 million (US$1.17 billion) in 2011.
During the 2011 financial year, flexible petfood packaging manufacturer Nordenia International continued its strong growth, reporting that sales rose by 9.9 percent to â‚¬880.8 million (US$1.17 billion).
Sales volume grew by 1.4 percent to 244,670 tons, compared to 2010, and adjusted earnings before interest, taxes, depreciation and amortization fell 4.4 percent below the previous year to â‚¬101.1 million (US$133.8 million).
"Because of the global economic crisis 2009 was a tough year for the plastics-processing industry. In 2010 the economy picked up again. The packaging industry, which showed strong growth, also benefited from this. Against this positive background, in 2010 we saw above-average growth rates and thus the best result in our company history. We were unable to repeat these excellent 2010 figures in 2011. The adjusted EBITDA of â‚¬101.1 million means for the Nordenia Group the second best result in its history," said Ralph Landwehr, CEO and chairman of the executive board.
According to Nordenia, the increase in sales, which was disproportionate in comparison with sales volume, was the result of increased prices for raw materials, which was not immediately able to be passed on to customers, as well as a change in the product mix in the direction of higher-quality products.
In 200, more than 90 percent of the company's sales were from products in the Fast-Moving Consumer Goods market, which includes pet-care products. Combined sales of hygiene, converting fast-moving consumer goods, food, and pet-care and garden products accounted for more than 80 percent of sales, a total of â‚¬157.5 million (US$208.5). Sales of pet-care and garden products combined were â‚¬98.3 million (US$130.1 million).