Sofidel: 2024 Financial Year Up, Driven by Investments in North America
- Consolidated turnover at 3.225 billion euros, EBITDA at 17.85%.
- The Shareholders' Meeting appoints the new Board of Directors of Sofidel SpA.
PORCARI, Italy /3BL/ - The Shareholders' Meeting of Sofidel, one of the world leaders in the production of paper for hygienic and domestic use, known in particular in Italy and Europe for the Regina brand, closes 2024 with positive economic and financial results.
Consolidated turnover stands at 3.225 billion euros (up + 3% compared to 3.129 billion in 2023), with an EBITDA margin of 17.85% (in 2023 it stood at 21.11%).
On the environmental front, the commitment to ecological transition continued, with a 19.5% reduction in specific emissions compared to the base year 2018, in line with the objectives defined with the Science Based Target initiative (SBTi) to achieve the Net Zero target by 2050.
The year was marked by major investments in the United States, including the acquisition of the tissue division of Clearwater Paper Corporation, worth approximately $1 billion (the largest ever made by Sofidel), which brought four new production plants and 1,700 new employees into the Group's scope, increasing production capacity by 342,000 tonnes per year, equal to 25% of the Group's total.
“2024 was a significant year. The acquisition of the tissue division of Clearwater Paper Corporation strengthens our position on the North American market where we now have two production expansion projects underway – in the Duluth, Minnesota, and Circleville, Ohio plants – and where we are working to grow further. In Europe, we continued our policy of market consolidation and implemented numerous production process efficiency measures as part of the energy transition strategy to help us meet our Net Zero by 2050 objective,” said Luigi Lazzareschi, CEO of Sofidel .
The new Board of Directors of Sofidel SpA
Following the premature passing of Chairman and shareholder Edilio Stefani, the Shareholders' Meeting of Sofidel SpA has appointed Paola Stefani, daughter of co-founder Emi Stefani, as Chairman of the Board of Directors of Sofidel SpA. She is a partner who has been on the Board of Directors for over 20 years and has a previous ten-year experience working in the company.
Nicolò Stefani, already a Director since 2021, is appointed Chief Executive Officer, assuming all the attributions and signature powers previously held by his father Edilio Stefani, including responsibilities on the Boards of all subsidiaries.
At the same time, two other members of the third generation of the founding families are joining the Board of Directors of Sofidel SpA: Federico De Matteis and Davide Giacomelli, who have already been active in the company for several years as Financial & Operations Coordination Manager – USA and Consolidate Financial Statement Controller respectively.
Also among the new members is Antonio Pace as a Councilor.
On the eve of the sixtieth anniversary of the founding of Sofidel (1966), we once again see the Group positioned with strength and determination towards the future.
This is the new composition of the Board of Directors of Sofidel SpA:
Paola Stefani, President; Luigi Lazzareschi, Chief Executive Officer, Nicolò Stefani; Chief Executive Officer; Davide Giacomelli, Director; Federico De Matteis, Director; Chiara Mio, Director; Silvio Bianchi Martini, Director; Andrea Munari, Director; Alessandro Solidoro, Director; Antonio Pace, Director.
