Favini reports 6 month figures for 2013
In 2012, where the financial year was characterized as a year of rising energy and pulp prices, with recession in key markets, EBITDA was strong at €10m (8.3%) on a turnover of €119m.
These results follow a series of activities deepening Favini's market development with new innovations and higher brand recognition. 'Crush' was launched in Monaco, winning the prestigious 'Luxepack in Green' award; Security paper business reached a critical mass; Release paper division launched several fashionable grains and consolidated its market share in key markets. Supporting communication strategies and internet activity were improved, leading to a higher level of 'Favini' brand awareness and market salience.
Overall, in speciality papers Favini is increasing its market share in a challenging market. The graphic papers division is performing well despite a strongly declining domestic market. Sales in some other European markets and many emerging economies are growing strongly as the business rebalances its dependence on the Italian market. The Release division shows excellent results after suffering in the first half of 2012 from a general market contraction. The Converting division remains strong with a consistent and excellent record of profits.
Commenting, Andrea Nappa, Favini CEO, said "Favini is building year on year - building a reputation for innovation, exciting products and tailored solutions enabling it to grow and increase share in a market facing significant structural changes. I believe we are strongly positioned to further improve our mix and continue to take market share".
A company with a long history of innovation in paper manufacturing, Favini is a world leader in the market of industrial release paper and has significant market share in specialty paper with market leading products for the fashion, design and other luxury industries.
Favini has two manufacturing sites in Italy, near Venice and Milan, employing a total of 500 people and generating annual revenues of around €121 million (2012 figures).
Favini has always paid attention to ecology. In the 90s, Favini patented Shiro Alga Carta, eco-friendly paper made from algae. In October 2012, Favini launched CRUSH, a break through paper made with by-products from organic products (corn, citrus and kiwi fruits, olives, almonds, hazelnuts and coffee beans) replacing as much as 15% of traditional wood pulps.
Favini's entire production process is scrupulously ecological; the cellulose used comes solely from regulated, well managed crops and is whitened using Elemental Chlorine Free (ECF) methods. Both of Favini's production facilities comply with the UNI EN ISO 9001, UNI EN ISO 14001 and OHSAS 18001 standards.
Since 2008, Favini is controlled by Orlando Italy, a turnaround fund which has enabled the company to enter a new phase of growth and development.