Like all other companies around the world, Storopack has been affected by the impacts and measures associated with the coronavirus pandemic. On account of its solid financial basis, however, the protective packaging specialist is well placed for the future. Last year, the Storopack Group generated total consolidated revenue of €479 million, meaning that revenue in 2019 was up slightly on the previous year’s figure (€476 million). As a pleasing increase in earnings was also recorded, the company met all its targets for 2019 in terms of revenue and earnings.
Despite the coronavirus crisis, Storopack remains confident when it comes to revenue for the first half of 2020. It is expected that this figure will be on a par with the first half of 2019, whereas earnings will be higher. Due to the coronavirus crisis, the outlook for the second half of the year is uncertain; however, at the moment, the packaging specialist does not anticipate any severe falls in revenue.
“We are pleased and extremely grateful that we are able to provide reliability and stability for our customers, partners, and employees,” explains Hermann Reichenecker, Executive Director at Storopack. “This is chiefly due to our broad product portfolio, our secure supply chain with in-house production facilities worldwide, our considerable vertical integration, and our customer structure spanning numerous sectors. Even during the coronavirus crisis, we remain focused on product innovations and the development of new and sustainable products.”
A broad customer/product portfolio and a global presence represent advantages, particularly in times of crisis. In some countries, packaging manufacturers are classed as key firms and therefore have to maintain delivery capability during the coronavirus crisis. When it comes to goods that are urgently needed at the current time, Storopack offers a vast array of protective packaging solutions – ranging from the medical and food sectors to the online sale of everyday items.
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