VALUE

SUSTAINABILITY CREATES VALUE

For Sofidel, sustainability is a strategic lever for development. We aim to integrate it into all aspects of our business, to reduce the impact of our activities on natural capital and generate benefits for all our stakeholders.

Sustainability and innovation are two key levers guiding change, anticipating new opportunities on the market and generating shared value.

Financial Results

The year 2023 closes with very positive results for the Sofidel Group in terms of sales and margins. This outcome has been aided by the impact of lower average raw fiber and energy prices than the previous year.

From its headquarters in Porcari, Lucca, the Sofidel Group coordinates the operations of 17 companies in Europe and the United States, which produce more than 1.4 million tons of paper annually and employ more than 7,000 people worldwide. Consolidated sales in 2023 were 3,129 million Euro.

Consolidated sales exceeded three billion for the first time, and margins stood at an EBITDA of 21.11%. Of particular note is the significant consolidation in the U.S. market, where there was an improvement in customer loyalty and a major increase in sales volumes. The year saw constant adjustment of product selling prices in response to macroeconomic trends.

Investments

In 2023, to meet growing market demand in the United States, the Circleville (OH) plant expansion project was launched, which will result in the factory increasing its production capacity by more than 50% by 2025. In Europe in the meantime, Sofidel strengthened its position on the German market with the purchase of the brands Hakle (toilet paper), Hakle Feucht (marking Sofidel’s entry into the new category of moist toilet tissue), Dick&Durstig and Servus (household paper).

Moreover, given the need to meet growing demand immediately, in early 2024 Sofidel once again took action on the U.S. market, increasing its production capacity by 65,000 tons per year through the purchase from ST Paper of a paper mill in Duluth, Minnesota, in the Upper Midwest. Also on the market front, Sofidel boosted advertising in all the core Brand markets in 2023, while e-commerce equaled, and in some cases in Europe exceeded, the results for 2021, so far the best year ever in this area for the Group.

PROJECTS

PROJECTS