November 2024 (Castellón Plaza)

CASTELLÓN. The paper giant Kartogroup, based in Burriana, has returned to its growth trajectory, which had been interrupted by the economic and social effects of the COVID-19 pandemic. By the end of the 2023 financial year, the company achieved results whose main figures have now surpassed and improved upon those reached in the two years following the health crisis.

The Castellón-based company, part of the Cominter industrial group, specializes in the manufacturing and conversion of tissue paper for subsequent distribution and marketing as toilet paper, kitchen rolls, multi-purpose rolls, napkins, and tissues. In 2023, its turnover reached €132.06 million, a 7.83% increase from the €122 million of the previous year and above the figures of preceding years (€93.1 million in 2021, €96.4 million in 2020, and €93 million in 2019).

The increase in turnover is once again attributed to a rise in sales volumes with key large-scale distribution clients. Furthermore, the company states in its management report that the “gradual adjustment” of product prices due to increased costs, such as the rise in gas prices, is reflected in the annual accounts. This adjustment began in 2023 and is also evident in the 2023 results.

Kartogroup’s profits reached €2.27 million, a figure that doubles that of the previous year (approximately €1 million), and also surpasses the results of previous years, including those before COVID. Thus, after-tax profits amounted to €630,000 in 2021, €1.7 million in 2020, and €1.9 million in 2019. The company also notes in its financial statement the improved business margins, with the operating profit as a percentage of sales increasing from nearly 5% to 9.14%.

Tissue manufacturing in the Burriana plant.

Kartogroup states that in the ‘consumer’ market for large-scale distribution (hypermarkets, supermarkets, etc.), it has continued to maintain the trust of all its clients, “continuing the upward trend with most, especially with Lidl.” The supermarket chain remains the primary client with its subsidiaries in Spain, Portugal, and France.

Positive trend in industrial tissue

Regarding the industrial tissue market, the Burriana-based company points to a “favorable trend in sales and activity compared to 2022, with the incorporation and growth of clients from major purchasing groups.”

The paper giant also reported positive results in terms of employment. The company increased its workforce by seven employees compared to the previous year, reaching a total of 219 workers, up from 212 in 2022.

For 2024, the company expects to continue expanding its clients in both large-scale distribution and the industrial channel. Also of note is the investment made in the second phase of solar panel installations, which will allow for greater energy savings and increased independence from energy market prices.