NEWS
Sales and profits fall at KAP in 2023
Germany-based engineering firm KAP saw sales and profits fall in 2023, which it says was partly due to selling off part of its flexible films division. Overall, KAP’s sales fell to €337 million (US$363m), a year-on-year fall of 22%, while profitability (normalised EBITDA) fell to around €15m (US$16m), a fall of around 36%. Revenue in flexible films fell nearly
45% year-on-year to around €98m (US$106m). Excluding the companies divested in April 2023, revenue fell by around 25%. The development in the reporting year was mainly due to the sluggish sell-off of its customers’ high inventories and a slowdown in the construction industry, said the company. However, it said that factors such as a declining number of public swim- ming pools would have a positive impact on the segment in the long
term. The first signs of a reversal were already seen at the end of 2023 in the form of rising order volumes. Profitability for the division halved to just under €10m (US$11m) – down around 21% on a comparable basis. At the annual general meeting in
July, the management board will propose that no dividend be distrib- uted for the 2023 financial year. “Geopolitical tensions, rising
energy costs and adverse economic factors dominated 2023,” said Marten Julius, a member of the management board of KAP. “Although we devel- oped in line with our adjusted expectations, we cannot be satisfied with our earnings for the year.” In 2024, the company expects
revenue to increase moderately and normalised EBITDA to increase significantly. �
www.kap.de
Davis-Standard moves to 100% carbon-free energy
Machinery maker Davis-Standard says all its North American facilities are now powered by 100% carbon-free electricity.
It has done this by purchasing
certified Renewable Energy Certifi- cates (RECs) for its Pawcatuk and Fulton facilities. These guarantee that the electricity used in these locations is generated from renewable sources, such as wind or solar power. In addition, its Greater Toronto Area operations use electricity from hydroelectric sources, further adding to its use of carbon-free energy. “This reflects our commitment to sustainability and to reducing our environmental impact,” said Davis- Standard CEO Giovanni Spitale.
www.filmandsheet.com
www.brueckner.com
This complements existing ISO 14001-certified facilities and its Maillefer brand’s EcoVadis Silver Award.
In November last year, its Pawca-
tuck headquarters – and largest manufacturing facility – achieved ISO 14001 certification. It joins the company’s locations in Fulton, Vantaa (Finland), Dusseldorf (Germany) and Ecublens (Switzerland) which are already ISO 14001 certified. All of Davis-Standard’s global manufactur- ing sites are slated to become ISO 14001 certified by 2025. “We believe in taking proactive
measures to minimise our environ- mental impact,” said Spitale. �
www.davis-standard.com
Efficiency, sustainability and circularity
Efficient lines for a low specific energy consumption
Decreasing use of raw materials & “zero waste” in film production
Solutions for bio-based and bio-degradable packaging films
Mono-material solutions to close the life cycle of BOPP, BOPET and BOPE
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