Pro-Gest Group reported a consolidated turnover of EUR 435 million generating EUR 90 million EBITDA (20.6% margin), an 11% growth on the previous year, which was closed with a EBITDA of EUR 81 million.
Bruno Zago, Pro-Gest’s CEO, commented:
“The three-month inactivity for planned upgrade and maintenance at Cartiera di Carbonera, resulted in a moderate decrease of turnover in the second half of 2016 but we have gained in added value, closing with a growth of 11% of the EBITDA vs. the originally forecasted EBITDA.
The significant increase in marginality of the Group – stated the CEO, Bruno Zago – certainly compensates for the slight decrease in turnover caused by the three-month inactivity of Cartiera di Carbonera, which restarted production at the end of October after major 15 Million Euro upgrades for increased production capacity. Furthermore the 2016 financials of Pro-Gest will be audited for the second year in a row, a sign of the willingness of the Group to increase transparency on its operations.
All the investments made in 2016 – continues Bruno Zago – are the result of a planned strategy focused on developing our business through vertical integration that is our strength and the core of our Group. Within the same contest lays its fundament our commitment to complete the requalification of the historic paper mill in Mantua, designed by Pierluigi Nervi, a project worth a total of 200 million Euro. This month of January 2017 we will begin the installation of the new machine for the production of containerboard and we are confident of being able to restart the production before the end of summer. “
Earlier Pro-Gest acquired licenses and equipment of a bankrupted waste collector in Italy.
The company is Italy’s leading vertically integrated producer of paper, cardboard and packaging, active in all fields, from the collection of raw materials to packaging production. It is active in 7 Italian regions with 21 production sites, employing over 1,000 people. In 2016 Pro-Gest generated a consolidated annual turnover of EUR 435 million.