Unknown individuals illegally gained entry into the foam shop located at Greiner.
Rewritten Article
Holy hell, let's dive into the ups and downs faced by the Austrian plastic giant, Greiner, in the past year.
OMV and Adnoc's Ploy for Nova Chemicals Greiner's foam division, Neveon, raked in 455 million euros, a 17.4 percent drop compared to the previous year (641 million). This division primarily caters to the furniture and mattress industry. The slidin' sales, according to Saori Dubourg, CEO of Greiner AG, were due to cautious consumers and a stagnant construction industry.
Shutting Down Sites and Going Lean Greiner smartly utilized the rough patches to restructure the division. For instance, they shut down three loss-making sites in Germany. Dubourg referred to it as a "big fat pull on the ol' heartstrings, but sites in Eastern Europe (like Poland, Romania, or Hungary) were damn near killing it in terms of competition." The restructuring aimed to tap unused capacities in the future, churning out a two-digit million-euro efficiency boost, claims Greiner's CFO, Hannes Moser.
A Crunchy Fact: How Much Plastic is Actually Recycled? Greiner managed to balance the deficit in the foam sector with their other ventures. Sales in the packaging sector amounted to 875 million euros, a 3.6 percent increase compared to the last year, and in the labor and medical technology sector, the sales were 666 million euros, up by 4.5 percent.
Dubourg stated that even in the midst of a crisis, people continue to consume yogurt from cups, thus maintaining a steady demand for food packaging. Innovations such as compostable coffee capsules have been a hit too. Dubourg further expects higher growth in the medical technology sector due to increasing life expectancy. She also added that medicine and research rarely face government austerity measures.
Greiner's Overall Sales Dip
Despite a slight predicted increase not materializing, Greiner AG's overall sales result stood at 1.991 million euros, about 0.8 percent lesser than in 2023/24. While the Trump administration's unpredictable foreign policy raised some concerns, Greiner, with its local production units worldwide, has been minimally impacted, according to Dubourg.
The Vienna Waste Dilemma: Why the City is Pushing EU Quotas Greiner's subsidiary, Mediscan, launched a new plant in Kremsmünster, costing around 22 million euros. This is Europe's largest sterilization plant for medical products, food packaging, and recycling of plastics.
In essence, Greiner's recent developments have demonstrated robust performance in divisions like Greiner Packaging and Greiner Bio-One, while the restructuring in Neveon supports a more sustainable business model. Their strategic focus on sustainability through Greiner Innoventures positions them for continued growth in uncertain economic conditions. Despite a slight overall sales decline, Greiner continues to stand strong, baby.
Enrichment Data: Greiner AG's divisions include Greiner Packaging, Greiner Bio-One, and NEVEON. During 2024, Greiner Packaging and Greiner Bio-One experienced growth and extended their market shares. NEVEON underwent restructuring, consolidating its production network for better stability. Greiner Innoventures, the corporate venture arm, concentrates on sustainable innovations for long-term sustainability and innovation strategy.
While Greiner AG isn't directly involved in the furniture and mattress sector, they do cater to the foam industry. In the medical technology sector, Greiner Bio-One likely deals with medical packaging and associated products. Despite facing economic challenges, Greiner's strategic approach has kept them moving forward.
- Greiner's CEO, Saori Dubourg, blamed the 17.4 percent decrease in Neveon's sales, which amounted to 455 million euros, on cautious consumers and a stagnant construction industry.
- Greiner's CFO, Hannes Moser, claimed a two-digit million-euro efficiency boost due to the restructuring that included the shutdown of three loss-making sites in Germany.
- Innovations such as compostable coffee capsules have been successful for Greiner amidst a crisis, with Dubourg expecting higher growth in the medical technology sector due to increasing life expectancy.
- Greiner AG's overall sales result stood at 1.991 million euros, a 0.8 percent decrease compared to the previous year, and while the Trump administration's foreign policy raised some concerns, Greiner managed to minimize the impact with local production units worldwide.
- Greiner's subsidiary, Mediscan, invested 22 million euros in a new plant in Kremsmünster, which is Europe's largest sterilization plant for medical products, food packaging, and recycling of plastics.
