Promateris plans to increase compostable packaging production by 40% in 2022, thus consolidating its position as a regional leader in Central and Eastern Europe.
Promateris announces an increase of 110% for biodegradable and compostable packaging compared to last year. This growing demand has contributed to the company's results in2021. Promateris recorded a 66% increase in turnover for the first nine months of the year compared to the same period last year. The group recorded a consolidated turnover (including the distribution company Biodeck) of 27.5 million euros and a consolidated EBITDA of over 4 million euros, a 112% increase compared to the same period of the previous year.
Awareness of the risks posed by climate change and especially single-use plastic pollution has led to the adoption of legislative solutions at EU and Romanian level, resulting in increasing public interest in bio-based and compostable packaging. We believe in the green transformation that is taking place in the European Union, and our ambition is to become the largest European manufacturer of low-carbon packaging. During the last three years we have made investments of over 10 million euros in the development of biodegradable and compostable packaging and the recycling of bioplastic. Promateris is on an accelerated growth trend, and we will continue to invest in the company's development in order to improve performance, both by increasing the production capacity and by digitalizing our workflows," stated Tudor Georgescu, CEO of Promateris.
In 2021, the group registered a 36% increase in biodegradable and compostable packaging segment production compared to 2020. The company plans to increase production in this segment by 40% in 2022, thus consolidating its position as a regional leader in Central and Eastern Europe. Regarding the reduction of its carbon footprint, in 2021, Promateris recycled more than 1,000 tons of industrial waste from production. This was made possible by the company's installed biomaterials recycling line.
Promateris ends 2021 with a series of significant achievements, such as obtaining non-reimbursable financing of 744,000 euros for the production of corn starch based raw materials. The grant is offered by Iceland, Liechtenstein, and Norway through the SEE and Norwegian financial mechanisms 2014-2021, under the "SMEs Growth in Romania"program. The company also obtained a grant of 100,000 euros through the Electric UP program to install photovoltaic panels. This is the company's first step in the transition to use renewable energy in the production process.
Also, in 2021, Promateris published its first ESG(Environmental, Social, Governance) report and obtained/renewed the following certifications: ISO9001, 14001, 45001, 22000, at testing the organization's best practices. The company has implemented a state-of-the-art ERP system specialized in packaging production in partnership with the German company Theurer in terms of workflow efficiency.
In 2022 Promateris plans to continue investing in biomaterials in order to consolidate its position as a leader in the CEE region by developing its production capacity for bio-based & compostable packaging. The company also intends to develop the production of flexible packaging for the food industry and to start the production of biodegradable and compostable raw materials based on corn starch. Promateris will thus become the first company in Eastern Europe to produce raw materials based on corn starch.
In addition, Promateris aims to enter a new market segment – paper packaging, by developing a production facility, a project which will be finalized in 2023.
Promateris consolidates its growth and reports a turnover of EUR 27.7 MIL in the first nine months of the year, with a slight upward trend compared to the same period of the previous year.
Promateris announces a shareholder change and welcomes among its shareholders - Pavăl Holding, the most representative investment vehicle on the local market.