Thrace Group announced its 2023 performance focusing on three business sectors (artificial fabrics, packaging solutions and agricultural sector), coverage of 25 markets, development network in 80 countries, recyclable materials, turnover of 345 million euros of which 42% in Europe, 23% in Greece, 16% in the United Kingdom Kingdom, 10% rest of Europe, 7% USA, 1% Asia, Africa, Oceania, Production 75% Greece, 15% United Kingdom, 11% SE Europe, 1% USA and 2,000 employees.
As the company’s management emphasized during the presentation to analysts, investments amount to 30 million euros in 2024, while during the period 2019-2023 the total investments were set at 150 million euros in order to increase the production capacity, the flexibility of the production units, but also to expand the product range of the group with products of higher added value.
For 2024, the management has expressed moderate optimism and already in the first quarter of the current financial year, EBITDA has increased 5%-10% compared to the previous financial year and estimates are positive for the whole year.
In particular, there is stability in demand in the infrastructure and packaging sectors, an increase in demand for agricultural sector products, while demand in the construction sector still remains weak.
According to management, the Group remains in a position to keep net debt low and at the same time is in a position to take advantage of new opportunities by expanding CAPEX or even by implementing targeted new business activity.
The company’s strategy is based on pursuing profitable growth through innovation and sustainability, focusing on Added Value Products, seeking new business opportunities and ensuring financial discipline.
The Group focuses on the development of innovative products and solutions for a sustainable future by applying the principles of the circular economy.
To strengthen this goal, it has created the circular economy platform IN THE LOOP, which networks companies, brands, public bodies, consumers, contributes to the reduction of the environmental footprint in the entire value chain and designs specialized closed/controlled cycle upgrading recycling systems and reuse.
The aim is to have increased the use of recycled raw material by 30% in 2025 compared to 2021, have reduced solid waste by 40%, and have achieved a 10% consumption of energy from renewable sources, in line with current productivity levels and an annual output of 10.8 MW photovoltaic power from 6.7 MW in 2022.
