KLÖCKNER PENTAPLAST
Robust growth in operating profit and sales / Reduction in net debt / Major investments in facilities around the globe / Focus on operational improvement
A strategy for profitable growth under new ownership helped rigid films manufacturer Klöckner Pentaplast (KP, Montabaur / Germany; www.kpfilms.com) to report a 14% year-on-year increase in operating profit to EUR 174m for the year ended 30 September 2013. Sales were up 2% at EUR 1.17 bn. The strong performance allowed the company to reduce its net debt by EUR 90m to EUR 430m over the year.
KP CEO Christian Holtmann said: “We are delighted with the strong financial performance we delivered in the first full financial year under our new ownership structure, which is led by SVP, which has been extremely supportive. The results reflect a step change in the company’s profitability.” SVP (Strategic Value Partners, Greenwich, Connecticut / USA; www.svpglobal.com) led the group of investors that recapitalised the company in 2012 – see Plasteurope.com of 25.06.2012.
The company said its strong performance over the year was primarily attributable to its strategy for profitable growth. A broad set of initiatives is underway to continuously enhance the company’s operational performance, strengthen its market leadership position and “innovate with and for its customers”.
The growth strategy has been backed by major investments in growing and attractive markets, resulting in a capital expenditure increase of 6% to EUR 41m over the year – see Plasteurope.com of 08.11.2012. The company invested in its facilities in Cotia / Brazil, Crumlin, Wales / UK, Santo Tirso / Portugal and Villa Del Totoral / Argentina and in July 2013, it opened its first production site in Suzhou / China producing packaging films for the growing domestic Chinese and Asian markets. Employment at the company rose to over 3,100 from 3,032 in the previous year.
Looking ahead, Holtmann said: “We will continue to focus on operational improvement while accelerating the implementation of our growth strategy. We will invest in growing and attractive markets. The company is well positioned to capture growth in emerging countries and will gain further momentum as its innovation pipeline yields results.”
KP CEO Christian Holtmann said: “We are delighted with the strong financial performance we delivered in the first full financial year under our new ownership structure, which is led by SVP, which has been extremely supportive. The results reflect a step change in the company’s profitability.” SVP (Strategic Value Partners, Greenwich, Connecticut / USA; www.svpglobal.com) led the group of investors that recapitalised the company in 2012 – see Plasteurope.com of 25.06.2012.
The company said its strong performance over the year was primarily attributable to its strategy for profitable growth. A broad set of initiatives is underway to continuously enhance the company’s operational performance, strengthen its market leadership position and “innovate with and for its customers”.
The growth strategy has been backed by major investments in growing and attractive markets, resulting in a capital expenditure increase of 6% to EUR 41m over the year – see Plasteurope.com of 08.11.2012. The company invested in its facilities in Cotia / Brazil, Crumlin, Wales / UK, Santo Tirso / Portugal and Villa Del Totoral / Argentina and in July 2013, it opened its first production site in Suzhou / China producing packaging films for the growing domestic Chinese and Asian markets. Employment at the company rose to over 3,100 from 3,032 in the previous year.
Looking ahead, Holtmann said: “We will continue to focus on operational improvement while accelerating the implementation of our growth strategy. We will invest in growing and attractive markets. The company is well positioned to capture growth in emerging countries and will gain further momentum as its innovation pipeline yields results.”
18.12.2013 Plasteurope.com [227052-0]
Published on 18.12.2013
German version of this article...