Financial & ESG Results 2023 + Q1 2024
In 2023 despite market volatility and a slight decline in revenues (€1.8 billion in pro forma sales, down 11% from the €2 billion in 2022), Fedrigoni Group has proved remarkable resilience and growth. Our proforma EBITDA reached 338 million euro, marking a substantial 8% increase compared to the previous year.
One of the key highlights of our business trajectory is our expanding global footprint. Our revenues are becoming increasingly diversified, with 21% originating from the Italian market, 49% from the rest of Europe, and 30% from the rest of the world. This geographical diversification not only bolsters our market presence but also mitigates risks associated with regional economic fluctuations.
Sustainability permeates our entire strategy and our Making Progress approach is transparent, fact-based, third-party certified, and fully embraced by the entire Fedrigoni team, with a shared responsibility to achieve our ambitious 2030 ESG goals.
Looking at 2024, we are pleased to report a good recovery in volumes in the first quarter, with estimated revenues of 470 million euro, reflecting 10.9% growth compared to Q4 2023.
Read the full press release here.