Global cosmetics packaging manufacturer Quadpack has registered a 34% increase in net sales of €142.6m ($157m) in fiscal year 2022 (FY22), compared with €106.4m in FY21.
This increase in turnover is attributed to high levels of order intake and growth in the regions of Europe, the Middle East and Africa (EMEA).
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Quadpack said that EMEA region represents approximately 84% of the company’s total turnover in FY22.
For the fiscal year, which ended on 31 January 2023, the company said it had a strong recovery rate after two years of loss caused by the global pandemic.
Its recurring earnings before interest, taxes, depreciation, and amortisation (EBITDA) for FY22 stood at €12.6m. It represents an increase of 65% from €7.6m recurring EBITDA recorded in FY21.
If the operating losses of Quadpack Plastics are adjusted, the group’s recurring EBITDA would have increased to €13.5m from €12.6m.
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By GlobalDataIn FY22, the operating profit of the company was €2.7m while the same was €1m in FY21. This reflects an increase of approximately 377%.
The company’s net result for 2022 showcases a profit of €1m, against a net loss of €2.3m in FY21.
Quadpack CEO Alexandra Chauvigné said: “2022 was also a year of recovery from the effects of the global pandemic. Our financial results were highly encouraging, with a €142.6 million turnover – the highest in our history.
“Looking ahead, we are prioritising sustainability and innovation over the next five years, with a view to becoming a high-performance organisation.
“We are focusing on our people’s competencies, promoting autonomy, accountability and a sense of ownership, and making sure we have the right organisational structure to support growth in a fast-changing business environment.
“We will also look at sustainable co-creation with local suppliers, providing products and services in the region, for the region, with an initial focus on the American continent.”
Headquartered in Spain, Quadpack specialises in providing packaging solutions for the cosmetics industry. In April 2022, the company received B Corp certification.
The company recently launched new airless packaging for Denmark’s skincare brand NUORI.
