Financial performance 2011: Revenues +4%, Ebitda +40%
Within a context of recession in the paper industry, Favini posted an increase in revenues and confirmed the company’s growth of the last three years.
Favini closed the financial year 2011 with revenues of €127.1 million (up 4%), EBITDA of €12.9 million (up 41%) and net income of €3.2 million.
Our performance bucked the trend of the rest of the paper industry, which contracted by 6% in 2011. Since 2008 Favini has operated under the new management of Orlando Italy, a private equity fund giving it strong financial and professional management. Central to this has been product diversification and innovation plus a strong focus on serving new market niches. A strong example of this is our release paper, where Favini is one of the few manufacturers in the world and the only one in Italy.
Exports have also made a significant contribution, accounting for 60% of total sales, with South America and the Far East leading the way.