In reporting its financial results, VPK Group continues to build on its long-term vision over the last year, of which sustainable growth and well-considered investments are an integral part. The results of 2019 provide insight into a number of noteworthy investment projects that support the additional geographical expansion and the improvement and expansion of our product range within the packaging market.
The consolidated financial statement shows turnover was €1,362m, up 6.5% on the previous year (€1,279m). The company also posted a 25% growth in its EBITDA, at €175m.
The last few years have seen some important milestones for the Group and approximately €215m invested, including:
- State of the art manufacturing site in Halden, Norway (pictured below);
- Acquisition of Corenso’s European and Chinese tube divisions by Corex;
- Acquired majority shareholding in CorrBoard UK Ltd, the sheet feeding operation;
- Acquired majority shareholding in Viallon Emballages in France.
VPK Peterson site in Halden, Norway
“As for many companies, the recent months have been challenging for VPK Group, in which we as a company had to find a new path and anticipate the ever-changing market demand as a result of the evolving corona crisis,” says Pierre Macharis, CEO and Owner. “Meanwhile, a second wave is building up in most of Europe and we are unable to predict what the coming months will bring. Similarly as during the first wave, we will continue to take the necessary preventive measures with regard to hygiene and social distancing within the VPK Group. It is vital to us that our employees can continue to work in the safest conditions possible, to prevent the further spread of the virus and to continue to play our critical role in the supply chain.”
He continues, “Despite much uncertainty in the short-term, VPK Group is continuing to build on its long-term strategy. In the coming years, we aim to pursue the healthy growth of our company, taking into account all stakeholders, while operating in a responsible manner to keep our ecological footprint as small as possible. On the one hand we carry on with broadening and optimising our packaging range by proactively responding to the changing society. On the other hand, we continue to focus on our international presence and geographical expansion so we can ensure we meet the growing needs of our customers.”
