Fedrigoni releases 2023 annual report

Fedrigoni Group has closed 2023 with pro-forma turnover of EUR 1.81 billion. Despite market volatility and a 10 percent drop in revenues, the group grew EBITDA by 8 percent and increased its market shares in all geographies and business segments.

One of the key factors in the growth strategy is the group's increasingly global scale, both in terms of presence of offices and production sites in 28 countries and in terms of revenue diversification, 21 percent from the Italian market, 49 percent from the rest of Europe and 30 percent from the rest of the world.

Today, Fedrigoni employs 5,500 people in 28 countries, has 73 production plants and cutting and distribution centers and 25,000 products distributed in 132 countries. It is one of the leading global players in specialty papers for luxury packaging and premium wine labels, papers for art and drawing, self-adhesive materials for industrial uses and RFID inlays manufacturing.

‘2023 was a year of great volatility, driven by a combination of geopolitical instability, excess inventories in many value chains and an unfavorable macroeconomic context - comments Marco Nespolo, CEO at Fedrigoni Group. ‘Nevertheless, we continued to gain market share in all sectors and geographies, closing the year with stable financial results, and we once again demonstrated the resilience of our business model. The agility of our processes and our focus on innovation, sustainability, product excellence, customer proximity and the acquisition of new skills and technologies, supported by the experience and passion of our people, have enabled us to further strengthen our position as a reference global player.

‘Looking ahead to 2024 the first quarter got off to a positive start, with a recovery in demand. However, we are still in a highly volatile market environment with great geopolitical instability due to world conflicts in which agility and adaptability remain crucial: we expect that this schizophrenic market trend will characterize the next few years, with big fluctuations in orders, hence much more flexibility will be needed.’