Higher web-to-print volumes helped Elanders’ printing business during Q4
”I am very pleased with the fact that – despite the covid-19 situation – we succeeded in delivering our best yearly result ever,” says Group CEO Magnus Nilsson of Elanders in his comment on the results.
“During a turbulent year we have been able to improve our profit and reduce our debt considerably” the company writes.
Profit soared during Q4 and landed at 8,9 (5,8) per cent.
A strong Q4
Both Supply Chain Solutions and Print & Packaging Solutions posted better results in Q4 2020 than in the same period the year before.
Web-to-print helped print & pack
Business area Print & Packaging Solutions posted one of its best Q4 results ever and delivered a profit that was better than last year.
“It is primarily our business in Germany that lifted our result due to considerably higher web-to-print volumes in photo products, calendars and marketing materials. This together with a stable recovery within Automotive and Industrial meant we were able to take advantage of our full production capacity,” says Nilsson.
Investing in ecommerce
Elanders is further focusing on helping its clients with ecommerce, and the company reported just before Christmas that it is opening up a new storage plant of 30,000 square meters for ecommerce during 2021.
Elanders also says in its report that the company has a strong cash flow and reduced debt.
The company has during 2020 received 61 million SEK in different forms of state aid related to the covid-19 situation.