Pedrotti family, represented by Diego, Luca and Stefano, administrators of Innova Group together with their mother Giulia, presented the balance sheet data for the year 2023 during the annual meeting with journalists.
Innova Group looks to the future with a strategy aimed at balancing very carefully investments, innovation and sustainability, with the aim of responding to the challenges of a constantly evolving cardboard packaging market. 2023 numbers demonstrate this: despite a 20% drop in turnover, mainly due to the reduction in paper costs, the company’s margins remained stable compared to the previous year. Profits recorded an increase of 1 million euros, while net equity increased by 12 million, consolidating a good overall result.
“Margins remained in line with 2022. EBITDA recorded a slight decline, offset however by interest earnings, which are finally positive after years of stagnation. Financial management contributed with 1,197,530 euros, bringing the profit up by approximately one million compared to last year”, explained Gianluca Pedrotti during the presentation of the financial data. “Despite the decline, the situation remained unchanged on the other fronts”, he added.
Strategic investments
In 2023 the Group’s investment policy continues, employing 4.5 million euros in various strategic initiatives. These include the construction of a new photovoltaic system in Borgo San Giacomo plant, the modernization of a Jumbo line at Fontanella plant, and logistical and technological improvements in all the plants. The company has also purchased a new industrial land adjacent to Erbè (VR) plant.
For the two-year period 2024/2025, further investments of approximately 12 million euros are planned, which will be used to purchase three new machines: two case makers and a third machine that could be a rotary or a printer with die-cutting machine, depending on future assessments. In 2023, Borgo San Giacomo plant also reached, after Fontanella plant, the important goal of “zero emissions”, confirming the Group’s commitment to energy sustainability.
The evolving market
2024 started in line with expectations, but already in the second half of the year a slowdown in the market was perceived, with more cautious forecasts for 2025, especially considering the general economic situation of the country. Despite this, the number of customers in 2023 increased slightly, settling at around 2,000 units, with the food sector leading the way.
“This slowdown does not compromise our business objectives. However, we are moving in a context of general contraction, with strong competition, which requires caution”, said Diego Pedrotti.
The importance of human capital and the challenges of its management
One of the problems encountered by the company in the last two years is the difficulty in finding qualified personnel, despite the company is offering very competitive and interesting economic conditions. To face this challenge, Innova Group has quadrupled the number of HR agencies with which it collaborates, but the search for workers remains a widespread difficulty also in other sectors.
The Group’s attention to human capital remains a priority. Innova Group continues to invest in training its workforce, and this year the company will launch an academy for salespeople, with the aim of training professionals who can become consultants in the packaging sector, capable of supporting customers in finding customized solutions to their needs.
Transition 5.0 and the role of data
“In the context of industrial transitions, the most important thing is certainly the collection of data and having the skills to make the most of it”, said Gianluca Pedrotti. “Without data, it is impossible to achieve real efficiency”. Transition 5.0 still presents many unknowns, especially in terms of timing and risks related to long-term projects. “We are evaluating the implications and benefits that transition 5.0 could bring to our reality, trying to better understand the parameters and methods of implementation” concluded the three administrators.
