HEINZEL reports results for 2023

Shutdown of operations at Raubling Papier GmbH under review.

HEINZEL reports results for 2023

HEINZEL GROUP announces its performance for the year 2023, showcasing resilience in a complex market environment. The company reports a healthy €135,0 million of Operating Cash Flow and a simultaneous 6% reduction in CO2 emissions compared to the previous year, underscoring its dedication to both economic performance and sustainability.

HEINZEL GROUP achieved net sales of €2,214.9 million in 2023, with an EBITDA of €116.5 million. Notable successes of 2023 include the startup of unbleached pulp production at Heinzel Pöls as well as the preparation of the integration of Steyrermühl operations acquired from UPM in Austria.

Sebastian Heinzel, CEO of HEINZEL GROUP, commented, “In 2023 we have demonstrated resilience in challenging market conditions, especially in the containerboard segment, and we have laid the groundworks for future successes.”

The Steyrermühl mill has become part of HEINZEL GROUP on January 1, 2024. The rebuilding of PM6 machine there remains well on track, with production of kraft papers slated to commence in May 2024.

The situation of HEINZEL GROUP subsidiary Raubling Papier GmbH in Germany in 2024 continues to be characterized by a persistently difficult market environment and challenging economic conditions. The management of Raubling Papier GmbH has now decided to enter into discussions with the local works council about a possible discontinuation of operations to develop socially responsible solutions for the 165 employees potentially affected. The HEINZEL GROUP result for 2023 already includes an impairment for the Raubling plant.

HEINZEL GROUP remains committed to driving sustainable growth and creating long-term value for all stakeholders. The 2023 theme for its Sustainability and Annual Report, “Closing Cycles,” epitomizes the company’s commitment to optimizing economic and environmental cycles within its operations.

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