In a 2016 financial year characterised by forward-looking investments, the Thimm Group achieved moderate growth and increased its sales by 1.8 percent to 568 million euros. The company invested a total of 62 million euros.
According to the company, the operating result EBITDAR amounts to 52 million euros and 9.2 per cent of sales. This corresponds to an increase of 4.0 per cent compared to the previous year. The equity ratio remained very solid at 42.2 per cent (previous year: 43.2 per cent). The number of employees remained at the previous year's level: as at 31 December 2016, the Thimm Group employed 3,067 people, including 124 trainees in eight professions and one dual study programme.
Record investments: New corrugated board plant and digital pre-printing technology
The Thimm Group put together an extensive investment package of 62 million euros (11 per cent of sales) in the past financial year. A key component of this is the new corrugated board plant Holledau in Wolnzach, Bavaria. Series production began there at the start of 2017. The site is one of the most modern corrugated cardboard plants in Europe and ideally complements the company's production network.
In addition, the Thimm Group has invested in a unique digital pre-printing press in pioneering printing technology at the Ilsenburg site. This technology opens up completely new possibilities for printing packaging and displays for the point of sale for customers in the corrugated cardboard and branded goods industry. In addition, the Thimm Group expanded the packaging plants opened in the previous year for the Production of multi-material and special packaging in Germersheim and Puebla (Mexico). The existing sites were also further developed and modernised by expanding their floor space, adding new processing machines and optimising processes and measures to increase efficiency. In total, the company has invested almost 180 million euros over the last five years.
Economic development at general economic level
„With sales growth of 1.8 per cent, we were again able to grow above average compared to the corrugated board industry (1.0 per cent). Overall, we have developed in line with the general economic situation in Germany and the EU,“ summarises Mathias
Schliep, CEO of the Thimm Group, summarised the development in the 2016 financial year. „Against the backdrop of our comprehensive investment package and a complex competitive environment, the result is very positive for us. Satisfactory, However, it still falls short of our ambitious expectations. Our goal is still to establish a double-digit percentage operating profit in the long term.“
Outlook: Acting agile, utilising change
For the current year, the Thimm Group is planning sales growth of more than five per cent to around 600 million euros. This is based on the stable forecasts from the economy and the industry, coupled with the expected successful effects of investments and organisational development. In particular, the additional capacity provided by the new Holledau plant and new production technologies such as the digital printing system will have a positive impact, according to the company's expectations. At the same time, the current price increases for corrugated base paper in particular will have a negative impact on earnings this year. The company therefore expects the operating result to remain at the previous year's level.
