The CPH Group achieves a resilient performance for the financial year 2023

The CPH Group has unveiled its financial results for the year 2023, revealing a 14.0% decrease in its net sales compared to the previous year, amounting to 624 million CHF. This represents a 10.4% decrease after adjusting for currency impacts. Despite a strong performance in the Chemicals and Packaging divisions, the Paper division experienced a noticeable decline. The group's EBITDA reached 102 million CHF, down by 29 million CHF from the previous year, with a corresponding margin reduced to 16.3%.

The company also reported a net income after taxes of 79.9 million CHF, compared to 101 million CHF in 2022. In October 2023, the CPH Group used its existing liquidity to fully repay its 100 million CHF corporate bond due. Operating cash flows amounted to 110 million CHF, and free cash flow increased from 68 million CHF to 92 million CHF.

The Paper division saw a decline in net sales due to intense price pressures and a reduction in sales volumes, whereas the performances of the Chemicals and Packaging divisions were characterized by sales records. This challenging operational environment, impacted by economic uncertainties, rising interest rates, and geopolitical tensions, underscores the resilience of the CPH Group in the face of market challenges.