The company closes 2020 with Euro 23.7 million in consolidated sales, an increase of 39 per cent compared to the previous year. The growth is largely generated by the increase in production of biodegradable and compostable packaging. Promateris thus strengthens its position as a regional leader by developing distribution channels in Central and Eastern Europe, in countries such as Greece, Poland and Hungary.
Promateris Group closes 2020 with EBITDA of Euro 2.7 million, up 68% compared to 2019, according to the preliminary reports for 2020. In recent years, the company has recorded significant year on year increases: 28% (2018 vs. 2019), 57% (2019 vs. 2018), 39% (2020 vs. 2019). This demonstrates that investments in green products are both profitable and in line with the market demand. The group’s goal for 2025 is to become the Eastern European market leader in sustainable packaging, while reaching a Euro 50 million turnover, with a projected EBITDA of Euro 7 million.
Tudor Georgescu, CEO of Promateris: “Starting from 2017, we decided to appoint a new management team, by getting on board young and visionary professionals, who wanted to make an impact both at company level, and also from a social standpoint. For me it’s important to work with people that are knowledgeable in regards to technological innovations in the sustainable packaging market. I am pleased to have a team of young and ambitious professionals by my side, with whom we can continue to demonstrate that by adhering to the principles set out in the Green Deal, companies can grow and at the same time reduce their environmental impact.”
Promateris invested in developing its production capacities by purchasing state-of-the-art equipment, training its technical and management teams, investments in the R&D department in order to develop new products with low environmental impact. In 2020 Promateris installed a bioplastic recycling line, thus reaching a recycling rate of 100 per cent for its technological waste. In the future, the Promateris group aims to develop three new divisions, in order to strengthen its presence in the markets where has recently started operating.
- Biomaterials – strengthening regional leadership and investments in producing higher added-value products, such as bio-compostable flexible packaging for the food industry
- Recycling – reducing the volume of virgin plastics used in packaging manufacturing and replacing it with recycled materials, thus respecting the circular economy principles
- Paper – development and manufacturing of sustainable packaging solutions, paper and biomass based, with a strong emphasis on biodegradability, regenerability and recyclability of these materials.
Source: Promateris Group