Crown Van Gelder reported net profit of Euro 1.2 million in 2012

Feb 20, 2013. /Lesprom Network/. Crown Van Gelder's (CVG) net profit in 2012 was Euro 1.2 million, excluding non-recurring and non cash items amounting to Euro 25.4 million (net) in total, as the company said in a press release received by Lesprom Network. Net result (excluding non-recurring items) showed strong improvement in 2012, compared to a net loss of Euro 3.5 million in 2011. A return to profitable operations in 2012 was driven by a higher sales volume and a strong increase in NBD sales, supported by lower pulp costs. CVG s sales volume increased by around 6% in 2012 to around 216,000 ton, outperforming the market average in the woodfree uncoated (WFU) sector in which CVG operates. The order intake in this market was down 9% in 2012. Total revenues increased to Euro 166.9 million compared to Euro 162.3 million in 2011. CVG s order book is at a satisfactory level to keep production capacity fully utilised and the company s goal for sales and production volumes in 2013 is at least 220,000 ton. As reported earlier, current high pulp price levels and increased energy costs necessitate higher selling prices, and further selling price increases will be actively sought for. As of 2013, CVG will focus on the niches in digital inkjet, label and packaging, which will contribute to the results. Our target for 2013 is an extra sales volume in these niche products of 20,000 ton. Miklas Dronkers, CEO, commented on the 2012 annual results: “Today we proudly present FOCUS 2016, a strategic outline containing our plans and ambitions for the next four years. The New Business Development programme, which we initiated in 2006, successfully drove the introduction of a broad and modern range of new products. Going forward we will profile CVG as a speciality supplier focussing on digital inkjet, label and packaging. The partnership agreement with HP, that we concluded this week, will accelerate our growth in digital inkjet papers. These differentiating niche products will enable CVG to realise sustainable growth and create value for Crown Van Gelder and all its stakeholders.” Crown Van Gelder N.V. is a specialist paper manufacturer with around 280 staff. The company develops, produces and sells high-quality speciality products in the woodfree uncoated and singlecoated paper sectors.