Hartmann increased its market share in turbulent 2021
In 2021, Hartmann has worked with persistence and determination to expand the group’s presence and market share and to secure its revenues in turbulent markets that have been affected by historically strong increases in recycled paper and energy prices and by highly volatile egg packaging demand during the COVID-19 pandemic. .
The year 2021 saw a sharp increase in costs in the wake of sharp increases in the prices of recycled paper and energy, the two most important raw materials for Hartmann’s production. In some markets, the price of recycled paper jumped more than 60%, while the price of natural gas increased more than sevenfold in
- The group’s turnover rose to
DKK 2,744 million(2020: 2,567 million Danish crowns).
- Operating income* was
250 million Danish kroner(2020: 452 million Danish kroner) corresponding to a profit margin of 9.2% (2020: 17.5%).
- Investments went to
542 million Danish crowns(2020: 437 million Danish kroner).
Directions for 2022
Hartmann expects to grow its overall revenue to
Persistently high prices for recycled paper and energy, Hartmann’s main raw materials, are expected to impact the group’s profits and profit margin. The high prices of raw materials should lead to a significant increase in production costs, which the group intends to offset by continuing efforts to adjust selling prices and improve the overall price and product mix. However, due to the length of existing customer agreements, price adjustments will be implemented with some lag. The historically high volatility of raw material prices leads to significantly reduced visibility and increased uncertainty about the evolution of the group’s cost levels.
COVID-19 brings increased operational risk and can further lead to personnel issues, highly volatile exchange rates and reduced visibility.
Investments are expected around
* Operating profit and profit margin are presented before restatement of special items and hyperinflation.
Torben Rosenkrantz-TheilCEO, (+45) 31 21 68 72
About Brødrene Hartmann A/S
Hartmann is the world’s leading manufacturer of molded fiber egg packaging and one of the leading fruit packaging manufacturers in
- Annual report Hartmann 2021.pdf
© Ritzau Denmark, source