The Promateris Group closes 2020 with EUR 23.7 million in consolidated sales, an increase of 39% 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, Hungary.
Promateris Group closes 2020 with EBITDA of EUR 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 EUR 50 milion turnover, with a projected EBITDA of EUR 7 milion.
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 in the same time reduce their environmental impact. Tudor Georgescu, CEO of Promateris.
Promateris invested in developing its production capacities by purchasing state-of-the-art equipment, trainig 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% 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.
1. Biomaterials - strengthening regional leadership and investments in producing higher added-value products, such as bio-compostable flexible packaging for the food industry
2. Recycling - reducing the volume of virgin plastics used in packaging manufacturing and replacing it with recycled materials, thus respecting the circular economy principles
3. Paper - development and manufacturing of sustainable packaging solutions, paper and biomass based, with a strong emphasis on biodegradability, regenerability and recyclability of these materials
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.