Antalis reports declines in paper sales
| 01 October, 2019
Antalis has announced that it’s first half sales were down by over 5% following a decline in paper volumes.
Commenting on the half-year results, Hervé Poncin, Chief Executive Officer of Antalis said: “In H1 2019, the Group’s operating performance was impacted by the decline in volumes of Papers in a market that contracted by around 7%, and by the bankruptcy of one of our graphic and recycled papers suppliers.
“Consequently, consolidated sales declined by 5.4% on a comparable basis. Against this backdrop, we have continued to adapt our structure to changing patterns of demand and we have significantly reduced our overheads, particularly our logistics and marketing costs. EBITDA margin came in at 2.8%. In the second-half of the year, in a tough global market, Antalis’ sales will continue to decline in the Papers sector in a deflationary environment, partially offset by the positive impact of new ranges of recycled papers and the revamping of creative papers.
“The Group should also continue to benefit from the resilience of the Packaging business which, along with Visual Communication, contributed 39% of Antalis’ consolidated gross margin in H1 2019, up 2 points year-on-year.”