Welcome to our annual report for the financial year 2019.
Progroup is a leading European producer of corrugated sheetboard and containerboard products, specialised in small batch series for small- and medium-sized customers in a multitude of end markets. Progroup is headquartered in Landau, Germany and operates thirteen cutting-edge production sites in six countries with approximately 1,300 employees.
In 2019, we experienced the anticipated and continuous normalisation of price levels after a record-breaking financial year 2018, in which we saw sales and EBITDA soaring in light of exceptionally favourable market conditions. Consequently, price levels of both our key products corrugated sheetboard and containerboard decreased within the financial year, with price levels stabilising only during the third quarter. Starting from a lower level, purchasing prices for recycled paper did not decrease to an equivalent extent. For the upcoming year, we see a potential for slight upward price developments.