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Hello Progress -
the annual report
of Greiner AG

 “Last year was challenging, but extremely successful: We generated record turnover of more than EUR 2.2 billion in a really turbulent global environment in which growth was far from guaranteed,” said Axel Kühner, CEO of Greiner AG, at today’s presentation of the 2021 annual report. “Rising inflation, problems in the supply chains, scarcity of resources, increased energy and delivery costs – we had our work cut out with all of this. Given the circumstances, our divisions pulled off an outstanding achievement. We applied our key strengths here, namely diversification, innovation, and globalization,” Kühner added.

Hannes Moser, CFO of Greiner AG, stated: “We can look back on a particularly successful year: All four divisions exceeded their targets and grew across the board.” Greiner Packaging posted turnover of EUR 772 million, amounting to growth of 11.5 percent. The foam division NEVEON ended up with turnover of EUR 735 million. The 53.3 percent rise in turnover was partly attributable to the first-time full consolidation of Eurofoam. Turnover of the medical technology division Greiner Bio-One increased by 0.4 percent to EUR 695 million. Business was particularly boosted here by the strong demand for VACUETTE® Virus Stabilization Tubes and laboratory supplies triggered by the response to the Covid-19 pandemic.

“Greiner is in a period of transition. We are turning things upside down, thinking outside the box, and taking the next step. We are focusing on our activities and moving away from areas that are not fit for the future. In other words, we are stepping out of our comfort zone, because we want to play an active role in shaping the future!” said CFO Hannes Moser, adding: “Reflecting the transformation we have embarked on, this year’s annual report is entitled: Hello Progress – All for the Future! This is because everything we tackled in 2021 has one thing in mind: the future.”

The two most visible changes in the previous year were the sale of the Greiner Extrusion division and the bundling of foam activities under the umbrella brand NEVEON. CFO Hannes Moser stated: “Greiner Extrusion was sold to the German-Dutch company Nimbus, where the segment can perform very strongly in the future. Bundling the foam units into NEVEON strengthens synergies and increases the visibility of the foam division significantly.”

“Our success is driven by our 11,000-plus employees. They came through the pandemic superbly with outstanding commitment, innovation, and great flexibility,” commented CEO Axel Kühner, adding: “The first quarter of 2022 also proved successful: Turnover was up on the previous year, although price rises impacted earnings in almost all segments. We are targeting organic growth for the future, and digitalization, innovation, and sustainability will be the key factors.”

Greiner AG Annual Report 2021