Fedrigoni closed 3Q 2024 with revenues of Euro 468.3 million compared to Euro 412.0 million in the same period of 2023 (+13.7%) and an adjusted Ebitda of Euro 61.7 million, 8.2% higher than the Euro 57.0 million in 3Q 2023. A growth trajectory confirmed by the results for the first 9 months of the year, which stood at Euro 1.425.4 million in revenues (+8.7% compared to 1.311.2 million in January-September 2023) and 221.7 million in adjusted Ebitda (+8.2%, up from Euro 204.9 million).
“2024 was characterized again by a discrete volatility,” comments CEO Marco Nespolo. “We started with good results in the first six months, partially driven by a recovery in the destocking trend across the value chains we serve. In the latter part of the year we had a gradual slowdown mainly due to softening growth in some end markets such as luxury and wine&spirit. Overall it was a pretty positive year that we estimate to close with about 10% growth in Revenues and Ebitda. In fact, barring any particular surprises in the last months of the year, we expect 2024 revenues to exceed Euro 2 billion (up from Euro 1.8 billion in 2023) and pro forma Ebitda to exceed Euro 370 million, up about 10% from the previous year (Euro 337.7 million).”
“We keep growing globally and only 20% of our turnover comes from Italy - concludes Nespolo - In the coming years we intend to accelerate even harder on our global presence, focusing in particular on North America, Latin America and Asia Pacific. We have an ambitious investment plan to sustain growth over the next four years (2025-2028): over 300 million euros globally, of which about 100 million in Italy, to innovate products and make them more and more sustainable, beautiful and performing, with the aim of replacing plastic wherever possible and enabling full circularity, but also to make our production sites even more efficient, safe and sustainable in terms of environmental impact.”
Founded in 1888 in Verona, Italy, Fedrigoni is a world reference in the production of specialty papers for luxury packaging and other creative applications, self-adhesive labels, graphic supports for visual communication and RFID.
