Aluflexpack Increases Operating Profit in First Half of the Year

Reinach (awp) – Packaging specialist Aluflexpack posted lower sales in the first half of 2024. Operating profit remained higher than in the previous year. The forecast for the current year has been confirmed. The company will soon be sold and will be delisted from the Swiss Stock Exchange.

Aluflexpack announced on Wednesday that sales fell by 3.6 percent to 184.0 million euros in the January-June period. The decrease was due to a negative impact on prices, as some raw materials became cheaper and were passed on to customers. Slightly higher volumes could not fully compensate for this.

Improve profitability

Operating profit (EBITDA) before special items now stood at €26.2 million. This is 5.7 percent higher than in the previous year. The corresponding margin rose to 14.3 from 12.7 percent. The final result was a net profit of €2.5 million (+87%).

According to the information, the improvement in profitability is due to the increase in operational efficiency. It is also said that there was a positive hedging effect from the increase in aluminium prices during the reporting period and a positive contribution from the acquisition of the Tunisian flexible packaging specialist Helioflex.

Expectations confirmed

The forecasts have been confirmed. For the full year 2024, the company expects sales of between EUR 370 and EUR 410 million. Operating profit (EBITDA) adjusted for special effects is expected to be between EUR 51 and EUR 56 million. Management continues to expect stable business development.

Aluflexpack is likely to be acquired by the Austrian company Constantia Elastics soon. The acquisition, which was announced in February, was completed, the Austrians announced at the end of May.

G/R