Tetra Pak reports growth in newly released 2014 financial results
Posted: 9 April 2015 | Victoria White | No comments yet
Tetra Pak has released its financial results for 2014. The company achieved net sales of €10.9 billion, up 1.7 per cent from 2013…
Tetra Pak has released its financial results for 2014. The company achieved net sales of €10.9 billion, up 1.7 per cent from 2013.
“Against the backdrop of a tough year, with slower packaging material growth than originally expected, we saw clear evidence that our business strategy is working. Capital Equipment sales reached almost €2 billion and Technical Sales topped €1 billion for the first time in the company’s history. Our processing business closed the year with a record high order backlog, up 20 per cent compared with the end of 2013. And we saw a significant increase in sales of our advanced packing formats: 7.1 billion more packs reached the shelves in 2014 than in 2013, offering customers optimal functionality and differentiation,” Tetra Pak President and CEO Dennis Jönsson commented.
Tetra Pak’s Processing Solutions net sales increased by 7 per cent
The company’s Packaging Solutions business reported net sales of €9.4 billion, 0.9 per cent higher than in 2013. Packaging material volumes touched 180 billion packs, slightly ahead of the 178 billion packs sold in 2013, while Capital Equipment saw revenues rise 6.4 per cent year on year and Technical Sales climbed nearly 11 per cent.
In contrast to the company’s Packaging Solutions business, Processing Solutions had good growth, with particularly strong demand in the milk powder and cheese processing sectors. Net sales increased by almost 7 per cent year-on-year, driven by double digit improvements in South Asia, East Asia & Oceania and in Greater China, and buoyed by Tetra Pak’s first quarter acquisition of Switzerland-based Miteco, the world leader in production solutions for carbonated soft drinks.
The company also reaped benefit from the 2013 acquisition of Danish filtration technology specialist, DSS Silkesborg, whose expertise and reputation played a key role in securing the largest Processing order in Tetra Pak’s history, a dairy and whey powder plant in Germany.
“2015 will undoubtedly be another demanding year, but we are confident that our strategic direction will continue to strengthen our market position and bring us further success in both Packaging and Processing. Our focus, as always, will be on creating customer value, through continuous innovation and by helping to ensure customers are well-placed to capitalise on the many opportunities we see on their horizons,” concluded Jönsson.
To find out more about TetraPak, please visit www.tetrapak.com.