Despite economic challenges, Greiner AG confirms its resilience: the Packaging and Bio-One divisions grew significantly in 2024, while the Neveon foam division was restructured.
Greiner AG, Kremsmünster/Austria, achieved a consolidated turnover of 1.991 billion euros in the 2024 financial year, thus maintaining the previous year's level despite challenging market conditions. Profitability and cash flows increased. Cash flow totalled 192 million euros (+3.2 %).
Division highlights: Growth in packaging and medical technology
Greiner Packaging: Sales growth of +3.6 % to 875 million euros. Successful market launches of innovative products such as home-compostable coffee capsules (in cooperation with Constantia Flexibles) and strong demand for products such as air up contributed to the positive result.
Greiner Bio-One: The medical technology division benefited from a stable market recovery after the pandemic and achieved an increase in sales of +4.5 % to 666 million euros. The Kremsmünster site was expanded to become Europe's largest sterilisation plant for medical products.
Neveon: The foam division recorded sales of 455 million euros, a decline of 17.4 %. The division remained under pressure due to consumer restraint in the furniture and mattress market. Proactive consolidation with site closures in Germany and the expansion of competitive sites in Eastern Europe should stabilise the earnings situation.
Sustainability as a strategic leitmotif
According to Greiner, it is consistently pursuing its Blue Plan for sustainability. In 2024, the Group was awarded the EcoVadis Platinum rating for the first time, making it one of the best 1 % companies assessed worldwide. It also achieved an A score from CDP in the area of climate protection.
Important sustainability projects included the „LOOP-it“ joint venture for environmentally friendly mattress disposal and new product solutions in the packaging sector that strengthen the circular economy concept.
Investing in the future
Greiner invested around 129 million euros in 2024 - equivalent to 6.5 % of turnover. The majority of investments were made in Europe (84 %), followed by South America, North America and Asia. In Austria alone, 45 million euros were invested, particularly in strengthening the production and innovation locations. With 10,318 employees worldwide and a strong focus on talent management, Greiner is committed to long-term personnel development.
Source: Greiner
