Greiner Annual Report 2023

Declining sales revenue in all divisions

The difficult global economic situation presented our three divisions with the same set of challenges: High costs, rising interest rates, changing demand, and volatile raw material and energy prices made 2023 a thoroughly challenging year. Our results were down year on year, and our sales revenue fell by 9.1 percent overall. However, we see every challenge as an opportunity, and we respond to current circumstances. We may not be able to influence external circumstances, but we can mitigate some of the external developments by improving efficiency, restructuring, and cutting costs.

Greiner Packaging achieved sales revenue of 845 million euros in 2023, a drop of seven percent compared to 2022 (909 mil- lion euros). Of the three divisions, Greiner Packaging recorded the smallest decline. Greiner Assistec, on the other hand, experienced a real slump in demand. It was generally felt that consumers turned to private label products due to the sharp price private label products and there was less demand for premium products from Greiner Packaging’s premium products were less in demand.

NEVEON achieved sales revenue of 641 million euros in

2023, down 12.5 percent from 2022 (732 million euros). This demonstrates that these are still challenging times for the foam division.

NEVEON also underwent a strategic change. At the end of 2023, the OEM automotive business Perfoam was sold to the Trèves Group, a more strategically appropriate owner with extensive experience in the automotive sector that offers Perfoam greater development potential. NEVEON is now fo- cused on its vertically integrated core foam business in Living & Care, Mobility, and a broad range of specialty foam applica- tions. In the Living & Care unit, NEVEON continued to struggle with volatile demand in the mattress and furniture industry. Aviation achieved a satisfactory result in 2023.

Greiner Bio-One also recorded a decline in sales revenue in the 2023 financial year and fell short of expectations. Sales rev- enue decreased from 693 million euros in 2022 to 637 million euros in 2023. This corresponds to a decrease of 8.1 percent. As expected, demand for VACUETTE virus stabilization tubes (VST) continued to decline due to the end of the COVID-19 pandemic. Preanalytics thus fell short of the previous year’s results but recovered somewhat during the course of the year. Demand also declined in the BioScience business unit, reflect- ing earlier restocking and reduced research activities.

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