Sofidel’s financial results confirm the group’s growth

In 2021, Sofidel’s financial results return to pre-pandemic crisis levels and confirm the Group’s steady growth. In fact, the second half of the year especially saw the consolidation of sales in Europe and – thanks to the new production capacity installed, at full capacity for the entire period – a significant strengthening in the United States.

Essentially, after the extraordinary year of 2020 Sofidel resumed its path of steady growth even if – due to the strong impact of rising raw material prices and the impossibility of reversing the impact on product sales prices – margins and economic results were partly affected.

The Group has confirmed a consolidated turnover of over two billion euros (net sales of 2,095 million euros) and an EBITDA margin of 10.42% in a difficult context. Among raw material prices, the first half of the year was particularly affected by the price of cellulose, while in the second half the very sharp increase in energy prices (more in Europe, less in the United States) weighed on the cost structure.

Sofidel Group CEO Luigi Lazzareschi confirmed that even in a difficult economic moment with a serious increase in the cost of raw materials, Sofidel strengthens its position and is competitive also thanks to its sustainability strategies. Edilio Stefani, Sofidel Group Chairman, added that the figures in the Sofidel 2021 financial statements are important prerequisites for continuing the path of innovation and transition to a low-carbon economy.

Green choices

The Group has launched a new phase in its procurement policy that sees the Group committed to the purchase and self-production of electricity from renewable sources produced by newly built plants.

Sofidel in Italy agreements signed with RWE Renewables for the supply of wind energy and, in Sweden at the Kisa production site, with Meva Energy for the construction of a renewable gas production plant.

On the subject of environmental sustainability, Sofidel joined the platform, “Forests Forward” launched internationally by the WWF. In the U.S. Sofidel America Sofidel has established a partnership with Ocean Conservancy. Among recent achievements is the addition of Sofidel on the CDP 2021 A List for combating climate change and the Platinum recognition received from EcoVadis for the approach to sustainability.

Source: Papnews

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