Consolidation of Ritrama ups sales, but higher costs and weak paper business make Fedrigoni spur red ink

摘要

Fedrigoni group's two main business segments "Pressure Sensitive Labels (PSL)" and "Paper and Security" have been affected in very different ways by the coronavirus crisis. The Paper and Security segment was hit hard by the pandemic, especially in the second quarter of the year, while the PSL segment experienced increased demand and recorded growing deliveries across all product lines with the exception of the graphics and the industrial markets, Fedrigoni said. The Paper and Security business branch recorded a drop in demand in all end use and geographical markets. As a result, sales in the Paper and Security business segment decreased by €145m to €415m in the first nine months of 2020. The Paper business line within the Paper and Security segment suffered a 25 per cent drop in sales to €372m due to reduced deliveries and lower selling prices. Sales in the Security business line fell by 36 per cent to €44m, mostly due to weaker demand for banknote paper and security features.