The packaging manufacturer Thimm Group, Northeim/Germany, has closed the 2019 financial year with revenues of EUR 623 m (2018: EUR 645 m). Operating result EBITDAR increased by 20 % to EUR 56.1 m. Investments of EUR 34.0 m have been made in product diversification, individual sites and production technologies to support the further growth of the group. Employee numbers increased by 250 to 3,512. In the financial year under review, the family company founded in 1949 expanded its market presence with three additional sites to now 22 sites in Germany, Czechia, Romania, Poland, France and Mexico.

Mathias Schliep, Chairman of the Management Board, said: “We grew our sales further over the last year. However, because we pass on lower prices for corrugated cardboard base paper, our most important raw material, to our customers, revenues have actually fallen slightly. Furthermore, due to developments in the automotive industry there has been a fall in rev-enue from industrial goods packaging.”