Germany-based containerboard and corrugated board manufacturer Progroup has registered a ‘record-breaking’ increase in revenues for 2022.
Progroup CEO Maximilian Heindl said: “2022 was very much characterised by rising energy prices, a much slacker consumer climate and therefore weaker demand for packaging and corrugated board.
Go deeper with GlobalData
“This is why it is so pleasing to report that in the two main areas of our business, corrugated board sheets and containerboard, we managed to improve our economic performance and increase our revenue to around €1.8bn.”
This reflects a nearly 30% increase in revenues for fiscal year 2022, compared to the previous year.
One of the primary reasons for this growth was having its own waste-to-energy plant located at its Eisenhüttenstadt site in Germany, said Progroup.
See Also:
Progroup’s power plant is capable of thermally utilising waste materials from paper production and the packaging industry, which is then supplied to the site’s PM2 paper machine with the amount of hot steam it needs to function.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThis plant also helps in producing electricity that matches approximately 50% of the power required for PM2’s operations.
A similar type of power plant is also being built by the company to further minimise its dependency on fossil fuels in the future.
The construction of the Sandersdorf-Brehna plant commenced at the start of this year. It is due to start operating by the end of 2025.
Additionally, Progroup is constructing a corrugated sheet-feeder plant, called PW15, at its Petersberg site, near Pirmasens, Rhineland-Palatinate, Germany. Production at this site is expected to begin in the first half of 2024.
This plant is expected to form part of a sustainable packaging park, which is being built in collaboration with G&G Preißer.
The company also has corrugated board sheet plants in Cessalto, Italy and Stryków, Poland.
Heindl said: “It is very unlikely that the conditions in the market will get any easier in 2023.
“But we will fundamentally approach this challenge with confidence by continuing to focus on our strengths: reliability, innovative strength and therefore technological leadership.”
