Fedrigoni has a good start to 2021 amidst ongoing corporate restructuring

摘要

Italian group Fedrigoni has had a fairly good start to the 2021 business year.The group, which is owned by American investment firm Bain Capital, reported a 1 per cent, or €3.3m, decline in sales in the first quarter of 2020 compared with the prior-year quarter, but its operating profit soared by more than 50 per cent. Net profit for the quarter came in at almost €12m, compared to a loss of €9m in the first quarter of 2020. In particular, Fedrigoni's business with self-adhesive labels and materials performed well. In recent years, the group has strengthened this business with several acquisitions. Last year Fedrigoni had acquired the independent self-adhesive label producer Ritrama and the self-adhesive label producer and distributor IP Venus group in Mexico. As a result, Fedrigoni was able to meet the growing demand from its customers during the pandemic, the company said.