Favini buckles downward trend with increased revenues
Favini, a company with a long history in paper manufacturing, closed financial year 2011 with revenues of €127.1 million, (up 4% from the previous year), EBITDA of €12.9 million (up 41% from 2010) and net income of €3.2 million.
According to Favinii, their performance bucked the trend of the rest of the paper industry thanks to two main factors. The first was the entrance, in 2008, of Orlando Italy, the private equity fund that first brought an end to the severe crisis that the Favini group was in and then introduced more targeted strategies and research investment, thereby giving the paper manufacturer a great boost. The second reason for the company’s success, Favini claims, lies in product diversification and the targeting of high-value market niches. Favini is one of the few manufacturers in the world which produce release paper, and the only one in Italy. These special papers are used to obtain particular finishes on environmentally friendly synthetic leathers that are used extensively in fashion, interior design, car interiors and other luxury segments.
Exports have also made a significant contribution to Favini's upturn, accounting for 60% of total sales, with South America and the Far East leading the way.
“Four years after the arrival of the private equity fund, we are proud of the results we have achieved, particularly given the great uncertainty in the marketplace. Even in such a mature industry there are still market niches that are growing and constantly evolving and where a focus on quality, innovation and environmentalism are appreciated. Take, for example, digital printing, luxury packaging and synthetic leather. Understanding and anticipating market trends is crucial, now more than ever, in order to stay competitive,” said Andrea Nappa, Favini CEO and a partner in Orlando Italy.
Favini has two production facilities, one in Rossano Veneto (Vicenza) and another in Crusinallo (Verbania), and a total of 480 employees. The company is organized into three divisions: Graphic Specialties, Release Paper and Converting Products.
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