Sequana, a major player in the paper industry, reported stable pro-forma EBITDA amid 7% decrease of sales in 2016 y-o-y. According to the announcement, the company’s sales revenues accounted for EUR 2,933 million, generating EBITDA of EUR 105 million (3.6% margin ) in the period.
Pascal Lebard, Sequana’s Chairman and CEO, commented:
“The Group’s 2016 operating performances reflect not just Antalis’ resilience – despite being hit by a negative forex impact in tough market conditions – but also the marked turnaround in the operating performances of the Graphic and Creative Papers divisions. Nevertheless, Arjowiggins’ overall results were held back by deteriorating operational performances in the Security division. The measures announced on February 15 (sale of VHP and the rest of the Security division) will provide a response to the major difficulties encountered by this division over the past two years. Finally, provided it is approved by the shareholders, the planned IPO for Antalis will unlock its value. It will also provide Sequana with the additional financial resources needed to run its operations and meet its obligations.”
The company is a major player in the paper industry, boasting leading positions in each of its two businesses: in the distribution of paper and packaging products, with around 5,700 employees based in 43 countries; . in creative and technical papers, with around 3,500 employees. Sequana reported sales of EUR 3.3 billion in 2015 and employed around 9,300 people worldwide.