A record 2021 for Piovan

The Board of Directors of Piovan reviewed and approved the 2021 separate financial statements of the company and the group consolidated financial statements. The record 2021 for the Piovan Group closes with excellent results in the Plastic and Food & Non-plastic segments, as well as in all geographic areas and a cash generation of approximately 20 million euros. The year also marks a fundamental stage in the growth of the group following the acquisition of the US Ipeg Group - thanks to which Piovan Group becomes the undisputed leader in the American market and further consolidates its global leadership.

“The results obtained in 2021 confirm a strong growth in sales volumes in line with the excellent trends of the previous months and a substantial increase in Ebitda. The strong cash generation of the group made it possible to seize external growth opportunities, culminating in the acquisition of the Ipeg Group - which allowed us to consolidate our leadership position in the sector globally”, declared Nicola Piovan (above), Executive Chairman of Piovan.

“It has been a very intense year in which the group has not only been the architect of a great expansion that has led to the record results of all time but at the same time has obtained important awards in the ESG field such as the sustainability certification of Sustainalytics and the recognition of important international awards in the circular economy. Furthermore, we have managed to make the largest acquisition in our history by consolidating and strengthening our undisputed global leadership. We are therefore very proud of what has been achieved in 2021 and look forward to 2022 with confidence despite the various uncertainties on the international front”, also stated Filippo Zuppichin (on the left), CEO of Piovan.

Revenue by business segment indicates that Plastic Systems revenue increased compared to the same period of the previous year, driven by marked growth in (traditional and recycled) packaging and in consumer goods; the "automotive" sector is still lagging behind, due to the crisis in the supply of components, which has not allowed it yet to benefit from the expansion linked to the replacement of metal components with plastic ones as a result of the general trend of conversion towards electric mobility.

Revenues in the Emea area posted a solid growth of 29.4% over 2020, benefiting from the strong performance of the Plastic segment and excellent growth in the Food & Non-plastic market.

Asia and North America grew by 17.5% and 18.2%, respectively, in 2021 on 2020, with revenues increasing in both the Plastic and Services markets. North America posted growth in all sectors, with the exception of automotive and with a particular strong impact from Food & Non-plastic.

In Asia, growth was spotty, with the regions of southeast Asia continuing to feel the effects of the Covid-19 pandemic and China showing a slower-than-expected recovery due, in part, to the continuing restrictions on travel. Within this context of greater uncertainty than in other regions, the Group is further strengthening its local sales and technical assistance structures and increasing market share compared to the leading competitors.

South American market also posted a strong performance (+48.6% in revenues compared to 2020) thanks, above all, to revenues in Food & Non-plastic and in Services.