Heinzel Group reports its second-best result despite downturn in sales and profits in 2019

摘要

In 2019, Austria's Heinzel group suffered from a significant decline in pulp and paper prices, and lower deliveries of traded goods at the group's trading subsidiary Heinzel Sales. At €1.92bn, net sales remained below the previous year's all-time high figure of €2.1 bn, the company informed.The steep decline in recovered paper prices, which improved the input cost situation in the recycled paper business, could only partially offset the fall in sales. At €115m and €86m, operating profit and net profit were 40 per cent behind the record figures posted for 2018. Despite the substantial decrease in profits compared to 2018, Heinzel group posted second-best financial results in company history for the 2019 business year. The solid performance helped improve the group's financial profile. Despite several minor acquisitions, the group reduced its net debt to €111m, compared to €127m at the end of last year.