The Model Group achieved consolidated Group sales of CHF 921m in the past financial year, which corresponds to a decline of 24% compared to the previous year. This was due to a 7% drop in sales volumes of corrugated packaging, a fall in prices and changes to the product portfolio.
On average, the Model Group employed 4,335 people (previous year 4,541), 764 of whom worked in Switzerland. Investments reached a record level of CHF 246m (previous year CHF 152 million). Investments focused on two new corrugators, including new buildings for Nymburk (CZ) and Bilgoraj (PL), new flexo and digital printing machines and the major construction site for the conversion and de facto new construction of the paper mill in Eilenburg (Saxony).
In April, the paper mill in Eilenburg will start producing lightweight containerboard. “The resulting impetus for the corrugated packaging range will have a positive impact on demand for our products, which is why we no longer expect sales volumes to fall despite the possibility that market sentiment will remain subdued. Once again, it is becoming apparent that periods of weak demand can be periods of strong innovation,” stated Dr Daniel Model, CEO.
