GREINER GROUP ANNUAL REPORT 2014

Transcription

1
KEY INDICATORS
ACTUAL in EUR million, or staff numbers (excl. leased personnel), according to the
Austrian Commercial Code (UGB), joint ventures pro rata
* 2013 figures on a comparable basis
2014
2013*
Consolidated revenue
1,320
1,293
113
83
Cash flow
Investments81
61
Employees8,451
8,170
Revenue per employee
0.16
0.16
GROUP STRUCTURE
GREINER HOLDING AG
Kremsmünster, AT – Management Board: Axel Kühner, Hannes Moser
GREINER PACKAGING INTERNATIONAL GMBH
Plastic packaging for food and consumer goods, technical components
Divisions: K, Kavo, Assistec
Headquarters: Sattledt, AT – CEO: Willi Eibner
GREINER BIO-ONE INTERNATIONAL GMBH
Medical technology, diagnostics, life science
Divisions: BioScience, Preanalytics, Diagnostics, OEM, Mediscan
Headquarters: Kremsmünster, AT – CEO: Rainer Perneker
GREINER FOAM INTERNATIONAL GMBH
Foams for comfort, sports and technical applications, aircraft seats, containers
Divisions: Eurofoam, Greiner Foam S.A., Unifoam, MULTIfoam, aerospace, PURtec
Headquarters: Kremsmünster, AT – CEO: Manfred Marchgraber
GREINER PERFOAM GMBH
Interior parts for automobiles, acoustic insulation
Divisions: Interiors, Acoustics
Headquarters: Enns, AT – CEO: Michael Schleiss
GREINER TOOL.TEC GMBH
Tools, machines and equipment for profile extrusion
Divisions: Window, Technical Profiles, Greiner Production Network
Headquarters: Nußbach, AT – CEO: Gerhard Ohler
DIVERSIFICATION. INNOVATION. GLOBALIZATION.
CONTENTS
2
4
8
18
20
26
34
42
50
58
67
Vision 2020
Introduction by the Management Board
Plastics for Life
Company Profile/Bodies
Management Report
Greiner Packaging International GmbH
Greiner Bio-One International GmbH
Greiner Foam International GmbH
Greiner Perfoam GmbH
Greiner Tool.Tec GmbH
Distribution of Ownership
1
PLASTICS FOR LIFE:
THE VISION 2020
Under the heading of “Plastics for Life”, the Greiner Group has spent
the last few months working on a new company vision, principles
which will guide the group to 2020 and beyond.
For years, one of the Greiner Group’s key
strengths has been its strong diversification.
Even if products and markets differ from each
other, all parts of the company have a common
denominator: Plastic. The “Plastics for Life”
vision expresses this common feature.
Around the world, plastics often have to combat their negative image. Reports in the media
about plastic islands of trash in the world’s
oceans, and about substances that could leak
from packaging into our food, contribute significantly to this image. The Greiner Group is well
aware of this problem. However, the company
2
is completely convinced that its products can
create added value for people’s lives. Greiner
Packaging International manufactures plastic packaging which extends the shelf life of
food. Products from Greiner Bio-One International reduce the risk of infection when taking
blood samples. Greiner Foam International and
Greiner Perfoam develop innovations which
make automobiles and planes, amongst other
things, more efficient and more comfortable.
Thanks to Greiner Tool.Tec’s knowledge and
experience, manufacturers of plastic profiles
can save valuable energy and resources.
The content of the presentations for all divisional visions was captured live on screens at the
second International Management Meeting 2014 in a “memory log”. The result illustrates the 2020
Vision of the Greiner Group.
At the same time, the Greiner Group is committed to constantly improving their processes in order to save energy and optimize
the consumption of raw materials. As a global
company, they know they have a particular
responsibility in this area. Treating people and
the environment with care and respect, and
exhibiting sustainable management are all a
top priority. In future, the Greiner Group wants
to raise more public awareness of this commitment.
Based on the strategic cornerstones of diversification, innovation and globalization, the
Greiner Group has set itself clear growth
objectives as part of the 2020 Vision. By the
year 2020, the group wants to be generating EUR 2.5 billion in revenue and to have
increased the workforce to 15,000 employees; this is equivalent to doubling the figures
from the 2013 fiscal year. The level of investment required to achieve this is EUR 900
million. These ambitious goals require the
commitment of the entire Greiner Group. The
company is therefore already working on specific measures designed to make the intended
growth achievable.
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4
2014 WAS THE MOST
SUCCESSFUL YEAR
IN THE HISTORY
OF GREINER. THIS
WAS DOWN TO THE
COMMITMENT OF EVERY
SINGLE EMPLOYEE.
Hannes Moser
Axel Kühner
CFOCEO
Greiner Holding AG
Greiner Holding AG
GREINER GROUP‘S
FOCUS ON THE FUTURE
In 2014, a strategy process was introduced to help prepare the
Greiner Group for the challenges of the future. Our clearly defined
objective is more growth. The focus is not on short-term maximization
of profits, but rather the long-term success of the group. Under
“Plastics for Life”, the advantages of plastic – the material of the
future – will be actively communicated.
In 2015, the Greiner Group will celebrate their
147-year anniversary and has always stood
out, thanks to the pioneering spirit of the people involved, and company leadership focused
on the long-term. Diversification of product
areas, a focus on innovation, and foresighted
expansion in growing markets are the three
pillars on which the success of the Greiner
Group is built. This is a recipe for success that
will also continue to be the basis for growth
in the future. Combining the core competencies in the Greiner Group meant that 2014
was a year of consolidation. The integration
of Greiner aerospace and Greiner PURtec into
Greiner Foam International was completed and
6
additional synergies created from the company
group. Greiner Perfoam was brought back onto
a highly profitable course and won significant
new orders. The expansion of Greiner Packaging International in the US was successfully
implemented. The market offers a promising
future, particularly for innovative and sustainable packaging solutions. Greiner Bio-One
International was integrated as the fifth division of Greiner Holding AG and has now been
consolidated in full. Greiner Tool.Tec consolidated the “Window” and “Technical Profiles”
units. As a global company, our employees are
a key priority for us. We want to create better
international networks so that we can move
s
c
i
t
s
a
Pl
Life
for
h
e throug c
ded valu
sti
d
a
la
p
te
a
le
Cre
tainab
s
u
s
d
n
ve a
.
innovati
products
closer together as a group despite our size and
remove cultural barriers as much as possible.
Plastics for Life
We concluded the vision process for 2020 with
the new company vision, “Plastics for Life”.
Plastics for Life will serve as our guiding principle. Our company will not survive without the
use of plastic. It is important to us that we show
with Plastics for Life the added value that we
can create with plastic, and that we only use
plastic where it is really the most practical and
sensible option. In doing so, we want to raise
awareness of the material, as well as pursuing
our goal of relying more on sustainable product
Axel Kühner
CEO
solutions in the future. We are very aware of
our responsibility for this planet. Plastic in itself
if neither good nor bad. It depends what you
make out of it, and how you do it!
Everyone participates in our success
Our success can be traced back to our
high-quality products, excellent relationships
with our customers, our use of the best technologies, and our entrepreneurial vision. These
are qualities for which we have to thank our
motivated and loyal employees, our collaboration with customers and suppliers based on a
spirit of partnership, and the confidence of our
shareholders.
Hannes Moser
CFO
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OUR SUSTAINABLE
PACKAGING SOLUTIONS
OFFER ADDED VALUE NOT
ONLY FOR OUR CUSTOMERS,
BUT ALSO FOR THE
ENVIRONMENT.
Kyle Cookson, Decoration Technician K3®
Greiner Packaging Corp., Pittston, PA (US)
10
GREINER BIO-ONE
STANDS FOR SAFETY
AND RELIABILITY IN
MEDICAL TECHNOLOGY
AND DIAGNOSTICS. THIS
BENEFITS RESEARCHERS,
DOCTORS, NURSING
STAFF, AND PATIENTS.
Dr. Sonja Kierstein, Scientist / Project Manager R&D
Greiner Bio-One Diagnostics GmbH, Rainbach (Austria)
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FOAM MAKES MANY
AREAS OF LIFE MORE
COMFORTABLE, SAFER,
AND MORE EFFICIENT.
WE ARE COMMITTED TO
THIS GOAL.
Krzysztof Owczarek, Production Director
Eurofoam Polska Sp. z o.o., Zgierz (Poland)
12
13
14
REDUCING WEIGHT
WHILST MAINTAINING
LOAD CAPACITY AND
STABILITY: THAT IS
OUR CONTRIBUTION
TO ENVIRONMENTALLYFRIENDLY MOBILITY.
Dr. Markus Draxler, Head of R&D and Innovations
Greiner Perfoam GmbH, Enns (Austria)
15
OUR INNOVATIONS
HELP PROFILE EXTRUSION
CUSTOMERS TO SAVE
MATERIALS, WATER,
AND ENERGY.
Franz Zorn, Project Manager R&D
Greiner Tool.Tec GmbH, Nußbach (Austria)
COMPANY PROFILE
BODIES
Success factors: Diversification, Innovation, Globalization
The Greiner Group, founded in 1868 in Nürtingen
(Germany), has grown from being a grocer’s shop
to a global group of companies working in plastics and foam. The companies in the group now
Dr. Tilman Schad
Supervisory Board
Claus Peter
Bernhardt
Supervisory Board
Dr. René Wollert
Supervisory Board
manufacture packaging for food and consumer
goods, medical technology products, and foam
for the mattress and furniture industry. In addition,
they make equipment and tools for the profile
Roland König
Supervisory Board
(Employee
Representative)
Prof. DDr. Wolfgang
Wiesner, PhD
Chairman of the
Supervisory Board
Hermann Hunger
Supervisory Board
(Employee
Representative)
extrusion industry as well as visible and acoustic
components for the automotive industry.
The key success factors include the diversification of products and markets, a continuous
Erich Gebhart
Supervisory Board
Axel Kühner
CEO
Gerald
Schinagl
Supervisory
Board
innovation process, and the expansion into
highly promising markets. Today, the Greiner
Group employs 8,451 people at 133 locations in
29 countries around the world.
Hannes
Moser
CFO
Hans-Jürgen
Schirmer
Supervisory Board
Maximilian
Gressenbauer
Supervisory Board
(Employee
Representative)
Dr. Ernst
Bachner
Supervisory Board
CHALLENGING
ECONOMIC CONDITIONS
The growth of the world economy in 2014 was halted by several events. The
year was characterized by political unrest, financial problems of EU member
states, and the somewhat atypical monetary policy of the central banks.
In particular, conflict in Ukraine significantly
halted economic growth in the eurozone from
the middle of the year. Initially, the political hot
spot affected the Central European export
economy. Negative consequences were also
detected in consumers’ behavior. In the first
quarter of the year, the gross domestic product of all EU states increased by 0.3 per cent
compared to the same period in the previous
year, and decreased by 0.1 per cent in the
second quarter. Towards the end of the year,
the gross domestic prod2014 WAS SHAPED uct rose again slightly by
BY SEVERAL INFLU- 0.2 per cent compared
to the previous year. The
ENCING FACTORS European Central Bank
THAT HALTED THE (ECB) demonstrated a
very aggressive monetary
GROWTH OF THE policy to counteract the
GLOBAL ECONOMY economic situation. Interest rates were lowered
to 0.05 per cent. This was intended to put a
stop to the ongoing reluctance of European
industry to make investments. The European
Central Bank’s expansive interest rate policy
as well as a slightly lower unemployment rate
in Europe sends signs of a faint revival in consumer behavior and, therefore, the economy.
Growth in Central and Eastern Europe was
20
heterogeneous. Poland grew at an extremely
stable rate and reported a GDP increase of
around 3 per cent, caused by falling base rates
and the deflation which affected the country.
The inflation rate in 2014 was 0.1 per cent
higher compared to the previous year. Hungary’s economic performance also grew well,
caused by the government’s stimulus measures and high levels of investments in previous years. An extremely cold winter in the US
restricted economic growth in the US, particularly in the first quarter of 2014. Despite
strong growth towards the end of the first half
of the year, the US was not able to claw back
the deficit caused by the winter. Growth at the
end of the year was 2.3 per cent. Signs for the
development of the US economy are positive.
Companies are ready to invest, interest rates
are cheap, and the unemployment rate is continually falling; it was 5.8 per cent at the end
of 2014. However, the American population
shows less willingness to spend, due to higher
interest rates on mortgages.
In comparison to the rest of the world, the
emerging markets, particularly China and India,
recorded stronger performance in 2014. The
above-average rates of growth recorded a few
years ago were no longer possible. Growth has
lost momentum. Economic growth in China, the
largest economic power in Asia, stagnated in
2014. Economic performance fell slightly compared to the previous year, from 7.5 per cent
to 7.1 per cent. Compared to other economic
nations, however, economic growth in China is
still considerable. This can be attributed to lower
economic performance and particularly the
decline in growth in the construction industry.
The demand for property in metropolitan areas
is falling for the first time in years. The result is
an increase in vacancy levels and the associated
increase in credit defaults. The slower economic
growth had a general curbing effect on pricing
trends. Production costs and sales prices did
not develop in proportion with one another. Production costs rose by more than sales prices,
leading to smaller sales margins. By contrast,
the inexorable rise of the middle class in China
secured purchasing power, which rose due to
lower prices. A new government in India introduced several reforms to stimulate the economy.
The reduction in the budget deficit, a restrictive
fiscal policy, and improved investment conditions for both national and international companies showed their first positive effects in economic growth, which was just under 6 per cent
in 2014. The economy in Brazil did not make the
reforms necessary to stabilize economic growth
due to placing too great a focus on subsidies
for low-income groups in the population. Growth
reforms such as lower taxes, flexible labor market regulations, and a better infrastructure have
so far been lacking, but are needed in order to
give the Brazilian economy a boost.
Due to pessimistic economic forecasts, the foreign exchange markets were highly volatile in
2014. In September 2014, the ECB lowered the
base rate to 0.05 per cent. In December, they
decided on the most extreme monetary measure in their history. Starting in March 2015,
they will buy back over a trillion euros (around
60 billion euros a month) in government bonds.
The EUR/USD exchange rate was highly volatile in 2014. At the beginning of the year, the
exchange rate was just under 1.40. By the end
of 2014, the euro had fallen to 1.21 against the
dollar. Dollar-euro parity in 2015 is entirely realistic. The exchange rate of the euro to the Chinese renminbi (CNY) changed from 8.32 at the
beginning of the year to a low at the end of the
year of 7.51. The Russian ruble (RUB) was also
very volatile against the euro. At the beginning of
2014, the EUR/RUB exchange rate was 45.11
but had reached 70.23 by the end of the year.
By contrast, the exchange rate with the Polish
zloty (PLN) remained stable. At the beginning of
the year, one euro was worth 4.25 zloty; at the
end of the year, it was worth 4.28 zloty.
21
REVENUE
BY REGION
2014 ACTUAL
(2014 share of turnover in %)
in EUR millions, as per the UGB,
joint ventures prorated.
EUROPE
82 %
REVENUE BY
COMPANY
2014 ACTUAL
(2014 share of turnover in %)
in EUR millions, as per the UGB,
joint ventures prorated.
GPI
39 %
22
2014
Share
PY*
1,068
82 %
+2 %
107
8%
+10 %
Asia
97
7%
-1 %
South America
30
2%
+4 %
Rest of the World
19
1%
-27 %
Europe
North America
NORTH
AMERICA
8%
SOUTH
AMERICA
2%
ASIA
7%
REST OF
THE WORLD
1%
2014
Share
PY*
GHO
1,320
100 %
+2 %
GPI
507
39 %
+2 %
GBO
388
29 %
+4 %
GFI
256
19 %
+4 %
GPF
106
8%
+8 %
GTT
71
5%
-10 %
GBO
29 %
GFI
19 %
GPF
8%
GTT
5%
RESULTS-ORIENTED
FOCUS PRODUCES SUCCESS
For the Greiner Group, the fiscal year 2014 was the most
successful in their 147-year history. Globalization, focusing on core
competencies, and stronger internal networking led to this result.
They took into account the strategy that needed to be adopted for
results-oriented growth.
In the fiscal year 2014, Greiner Holding AG, with
their five divisions of Greiner Packaging International GmbH, Greiner Bio-One International
GmbH, Greiner Foam International GmbH,
Greiner Perfoam GmbH, and Greiner Tool.Tec
GmbH, recorded the best results in their history. The path that was adopted over the last
few years of focusing on result-oriented growth
across the whole group, proved to be successful
in 2014. In the fiscal year 2014, as announced in
the previous year, Greiner Bio-One International
GmbH (previously Greiner Bio-One International
AG) was incorporated into the Greiner Group as
its fifth division. The figures reported for 2014
for Greiner Holding AG have therefore been consolidated for the first time with Greiner Bio-One
International.
Consistent revenue
In the fiscal year 2014, Greiner Holding AG
generated revenue of EUR 1.320 billion, which
represents an increase over the previous year
(EUR 1.293 billion) of 2 per cent. The focus in
the previous year was on increasing profitability and cash flow. They were able to increase
cash flow from EUR 83 million in the fiscal year
2013 to EUR 113 million (+ 36 per cent compared to the previous year). Investments totaled
EUR 81 million and were primarily used for the
acquisition and replacement of machines and
equipment. In 2014, Greiner Holding had 8,451
employees, composed of 2,303 employees in
Austria, 772 employees in Germany, 3,985 in
the rest of Europe, 658 employees in Asia (China
and Thailand), 428 employees in North America,
214 in South America (Mexico,
Brazil), and 91 employees in
2014 WAS
South Africa.
SHAPED BY VOLATILE RAW MATERIALS PRICES AND
A STRONG US
DOLLAR
Volatile movement
of raw materials prices
In the plastics and foam industry, Greiner Holding AG is
strongly reliant on raw materials extracted from crude oil.
In the fiscal year 2014, prices for all the raw
materials that are essential for the Greiner
Group initially remained high when compared
over a long period of time. At the beginning of
January 2014, a barrel of Brent oil cost USD
23
110.91 and by the middle of June had reached
its peak of USD 115.01. During the second
half of the year, the price of a barrel of Brent
oil fell continuously. At the end of the year, the
price reached its lowest level of USD 57.56 per
barrel. The drop in prices can be attributed in
particular to lower demand worldwide coupled
with high availability. This strengthened the US
dollar and caused the prices of raw materials,
which are traded in US dollars, to sink continuously. Unusually low demand for crude oil compared to annual production levels also resulted
in falling prices.
Divisional growth as scheduled
All divisions of Greiner Holding AG reported
EMPLOYEES
BY DIVISION
Globalization as a growth driver
In addition to innovation and diversification,
expanding into new markets has for decades
been one of the growth drivers of the Greiner
2014
Share
PY*
GHO
8,451
100 %
+3 %
GPI
3,465
42 %
0%
GBO
1,801
21 %
+4 %
GFI
1,606
19 %
+11 %
ACTUAL in staff numbers,
joint ventures pro rata
GPF
754
9%
0%
GTT
763
9%
0%
GPI
3,465
24
positive growth in the fiscal year 2014 and were
able to achieve nearly all of their revenue goals.
Only Greiner Tool.Tec just missed their planned
revenue goal due to market conditions in the
window profile extrusion industry that continue
to be challenging. Grouping together core competencies enabled the leveraging of additional
synergies within the group. To further increase
profitability, efficiency and process optimization
measures were rolled out and developed across
the group.
GBO
1,801
GFI
1,606
GPF
754
GTT
763
Group. Globalization particularly focuses on
emerging markets due to their rates of growth,
which are still above-average compared to
Europe. Talks already begun with potential
partners in India, China and Brazil will continue in 2015. In Fall 2014, Greiner Packaging International GmbH opened their first site
in the US. They will supply local dairies with
innovative and sustainable packaging solutions from the site in Pittston, Pennsylvania.
Greiner is using the trend for organic yogurt to
establish their plastic pot packaging solution
K3® in the US.
Strategic focus on 2020
One of the strategic priorities in 2014 was
the development of corporate objectives that
should be achieved by 2020. Over the coming years, revenue and employee numbers
will be doubled compared to the fiscal year
2013. This ambitious goal will be achieved
through organic growth as well as acquisitions
in strategically important markets. Planned
investments between now and 2020 will total
around EUR 900 million. The 2020 strategy is
coupled with the “Plastics for Life” vision. As
a global company, the Greiner Group is well
aware of their great responsibility in this area.
With Plastics for Life, the Greiner Group is
taking an aggressive approach to raise public
awareness of the advantages of plastic in our
daily lives. This focuses on the correct way to
handle plastic and, above all, the correct way
to recycle it.
Forecasts for the fiscal year 2015
Continued expansion into new markets will
also be a priority in the current fiscal year. Turkey is a particularly attractive market for food
packaging and is one of the targets in Greiner’s
globalization strategy.
The implementation and application of measures to achieve our medium-term goals by
2020 will play a central part of the current fiscal year. This includes a focus on expanding
the product range in order to pave the way
for organic growth by opening up new areas
of the market. An additional area of focus will
be innovation management, supporting the
expansion of the product line. Associated with
this is the continuation of the globalization
strategy in personnel development, helping to
prepare employees for the networking of the
international sites and responsibilities.
Despite the low level of raw materials, another
price increase is expected before the end of
the year. It cannot be assumed, however, that
prices will return to the levGREINER’S
els of the past two years.
In the middle of the year,
SUCCESSFUL
the sterilization company of
DEVELOPMENT WILL
Greiner Bio-One in Kremsmünster will become operCONTINUE IN 2015
ational as the new Mediscan site. A total of over EUR 14 million has
been invested in the development. This has
taken into account the continuing rise in the
number of third-party businesses in the sterilization sector.
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GREINER PACKAGING INTERNATIONAL
GREINER PACKAGING
INTERNATIONAL GMBH
GREINER PACKAGING IS
THE EPITOME OF HIGH
QUALITY PACKAGING
MADE OF CARDBOARD
AND PLASTIC IN EUROPE.
IT IS OUR GOAL TO
ACHIEVE THIS STATUS
GLOBALLY.
Willi Eibner
CEO Greiner Packaging International GmbH
KEY INDICATORS
€
Revenue (EUR millions)
Locations
Employees
2014
2013*
507
498
31
34
3,465
3,455
28
GLOBAL POTENTIAL
FOR MORE
Greiner Packaging International reported a successful fiscal year in 2014:
They consolidated their market-leading position in Europe and their entry
into the US market is showing the first signs of success. Further moves
towards internationalization are in the preparation stage.
Greiner Packaging is one of the world’s leading
manufacturers of packaging in the food and
non-food sector in Europe. To support customers as efficiently as possible, the different markets are managed by three divisions, K, Kavo,
and Assistec. Division K produces cups and
lids for the food industry, including combinations of cardboard and plastic. Division Kavo’s
product portfolio includes packaging solutions
such as plastic bottles and containers for the
food, cosmetics, pharmaceutical, and chemical
industries. Division Assistec focuses on the production of plastic parts and products as well as
assembly and refining. They exclusively supply
customers in the non-food industry. This can
include the office and leisure, household and
garden, health and personal care, automotive
and commercial vehicle industries, as well as
external packaging and logistics.
Positive business development
In Europe in 2014, the market for packaging
was stable. The first three quarters were shaped
by the high price of raw materials. There were
noticeable price fluctuations
in the fourth quarter, caused
THE MARKET FOR
by difficult political and ecoPACKAGING IN EUROPE
nomic conditions around the
IS STABLE. THE FIRST
world. In the fiscal year 2014,
Greiner Packaging InternaSTEPS ABROAD ARE
tional recorded positive sales
SHOWING SIGNS OF
results, with revenue of EUR
507 million. On a comparable
SUCCESS
basis, this corresponds to an
increase of two per cent over the previous year.
Varied performance in Europe,
first successes in Mexico
As one of the market leaders, Greiner Packaging
29
,
CK AGING
A
P
IC
T
S
PLA
rotects
p
gurt pots,
such as yo
.
d
o
fo
valuable
is confronted by a wide range of challenges in
the European market. For example, the commodity market on the whole is supplied with
large quantities. As these are subject to some
extreme fluctuations, product planning has to
ensure a high level of flexibility.
In Eastern Europe, the company enjoys a
strong market position as a qualified supplier
of high-quality plastic packaging: The Czech
site in Slušovice, for example, reported very
positive developments, and the Litvinov site
also proved itself to be a reliable partner in supplying all the large Central European dairies.
The Romanian market also shows promising
signs of success: Rising living standards in the
region have further increased the demand for
high-quality plastic packaging, which has benefited the regional site. Greiner Packaging is
now the market leader in Romania. The Serbian
market, on the other hand, is more strongly
contested, but over the past fiscal year, several
different projects were still successfully realized. Greiner Packaging’s intense efforts and
commitment in Mexico have paid off. The concept of offering high-quality, technical injection
molding is bearing its first fruit and affords new
possibilities and great opportunities for growth,
particularly when it comes to servicing customers from North America. However, in order to
exploit the full potential of the site in the future,
answers must be found to obvious skills shortages locally. A lot of companies are competing
for a few specialists. Vying for the best specialists is a challenge that Greiner Packaging
needs to face.
Solid start in the US
On October 29, 2014, the first site in the US
for Greiner Packaging was opened in Pittston.
In doing so, the company has completed the
next step on its journey from European to global
supplier. Greiner Packaging can offer a whole
range of suitable solutions, particularly to the
requirements of the American dairy and food
markets. The wide product range of premium
packaging solutions has met with great interest,
particularly the highly versatile K3® technology.
The cardboard sleeve can be decorated both
on the inside and outside,
making it predestined for
STARTING IN THE
use in the highly developed
US IS AN IMPORTUS marketing system. The
advantages that it offers in
ANT STEP TOWARDS
terms of sustainability, such
BECOMING A
as renewable raw materials,
low plastic content, and a
GLOBAL SUPPLIER
carbon footprint reduced by
up to 25 per cent, all help to increase market
demand. K3® products will play an increasingly
important role in the future thanks to their significant contribution to environmental protection. After the first few months in the US, we can
already draw a positive preliminary conclusion:
Production has got off to a good start and the
first definitive projects have been realized.
The vision: Large, global markets
Greiner Packaging has set itself the task of driving forward with international efforts in large
markets. The expansion strategy is focusing on
all emerging markets. Currently, a lot of potential
31
markets are being analyzed, and a possible
market entry is discussed in advance as part of
intensive talks with international customers. The
decision to proceed with further growth is taken
according to strict internal criteria and mutually
agreed, strategic thinking.
Sustainability as the key
for future innovation
Greiner Packaging does more than just pay lip
service to sustainability. An example of this is
the inert barrier technology for cup packaging in
the food industry which the company is initiating
for the first time around the world. This applies
a wafer-thin silicone layer on the inside of the
plastic cup, significantly reducing the permeability of oxygen and water vapor. This, in turn,
increases the flavor protection and the shelf life
of the packaged food. An additional advantage
of barrier packaging is that by maintaining or
extending the shelf life, it saves on preservatives.
The layer does not affect the weight of the cup
or the method of disposal.
Sustainability will remain the
THE US, TURKEY, driving factor for innovations.
Packaging
INDIA, CHINA, AND In 2015, Greiner
will make K3® technology a
SOUTH AMERICA, development focus. The aim
ARE THE FOCUS is to combine the advantages of cardboard and
OF GLOBAL plastic more productively as
DEVELOPMENT well as to make better use
of the respective advantages
of both materials. Greiner Packaging’s stake in
the company Cardbox Packaging serves as a
32
driving force and source of inspiration that can
help in the acquisition of additional knowledge
and experience of the use of paper and cardboard.
All-in-one concept receives
“Smart Packaging 2014” award
As with many Greiner Packaging products, convenience and functionality are a priority with the
clip-on bottle: A bottle to hold cleaning solution
was specifically developed for the needs of contact lens wearers; the contact lens holder can
be attached to the underside using the clip function. For this smart idea, Greiner Packaging
received the Austrian national award.
Greiner Packaging received the Austrian State
Prize “Smart Packaging 2014”, for their “All-inone concept”.
The inert barrier technology will be implemented around the world for the first time and extends
products‘ shelf life.
Functionality meets design
Over the last year, working together with their
customers on various packaging solutions,
Greiner Packaging has proven that aesthetics
and functionality can complement each other
perfectly. They have been supported in this by
the in-house design agency, DesPro (www. despro-gpi.com), who have 100 years’ experience
and are totally committed to the design of plastic packaging and combinations. They are highly
efficient in creating practical, yet aesthetically
appealing, solutions for the market.
Outlook for 2015
According to experts, the demand for high-quality plastic packaging will continue to rise globally in the coming years, caused by a growing
middle class around the world and their desire
for high-quality food. In order to react promptly
to changes in the market, Greiner Packaging
keeps up with trends and observations, a matter of course for a leading European company
with global growth ambitions.
In addition to expanding internationally, Greiner
Packaging continues to focus on innovations
as a top priority, particularly in Europe, as this
THE DEMAND FOR
will help them to further
HIGH-QUALITY
expand their strong
market presence in cenPLASTIC PACKAGING
tral and eastern Europe.
IS INCREASING
Greiner
Packaging
also wants to seize the
GLOBALLY
potential offered in Mexico, using their expertise in providing solutions
and customer service. The overall aim is to
maintain their position in existing markets with
new product developments, and seize opportunities for new products wherever they might
be offered.
33
GREINER BIO-ONE INTERNATIONAL
GREINER BIO-ONE
INTERNATIONAL GMBH
2014 WAS A SUCCESSFUL
FISCAL YEAR FOR US.
WE GREW ACROSS ALL
AREAS AND GAINED
MARKET SHARES.
Rainer Perneker
CEO Greiner Bio-One International GmbH
KEY INDICATORS
€
Locations
Employees
36
2014
2013
388
373
23
23
1,801
1,728
EXPANSION OF
BUSINESS AREAS
In the fiscal year 2014, Greiner Bio-One equipped themselves for the
future. Increased future demand, particularly from third-party businesses,
has been taken into account, with the expansion of Mediscan already
begun. The Diagnostics business unit has been further developed.
Greiner Bio-One International GmbH is one
of the leading companies in the areas of
preanalytics, bioscience, diagnostics and
sterilization. The company is divided into
four business units. Preanalytics, based in
Kremsmünster (Austria), develops and produces sampling systems for human samples
such as blood, urine, and saliva, used easily
and safely in hospitals, medical laboratories
and medical practices. Bioscience, based
in Frickenhausen (Germany), develops and
produces special products for the cultivation
and analysis of cell cultures as well as microplates for high throughput screening. Areas of
application include universities and research
institutes as well as the diagnostics, pharmaceutical and biotechnology industries. The
new Greiner Bio-One Diagnostics business
unit, which was hived off from BioScience in
2013, is based in Rainbach (Austria) and specializes in the development of new molecular
analysis methods. As a key technology, DNA
arrays can be used in
many areas from human
DIVISION INTO FOUR
diagnostics to food techBUSINESS UNITS AS A
nology. For example,
BASIS FOR ACTIVE CULbacteria or viruses can
be clearly identified using
TIVATION AND DEVELOPthe specific genetic finMENT OF THE MARKET
gerprint, resulting in a
quick, reliable diagnoAND FURTHER GROWTH
sis. Mediscan, based
in Kremsmünster (Austria), specializes in the
sterilization of medical products and food
packaging. Existing products from the range
are adapted and custom products manufactured for OEM customers using GBO’s knowledge and experience.
37
MEDICAL
PRODUC
TS MADE
UNBREA
FROM
KABLE P
LASTIC
inc
rease hyg
iene in
hospitals
and labora
tories.
Greiner Bio-One integrated
into Greiner Holding
As announced last year, Greiner Bio-One
has been incorporated as the fifth division of
Greiner Holding AG. This included changing
the name to Greiner Bio-One International
GmbH.
Scheduled business performance
The performance of GBO in the fiscal year
2014 went as planned and was characterized
by the further expansion of the new business
unit, Greiner Bio-One Diagnostics, as well as
the steady improvement of their market position. In 2014, GBO generated revenue of EUR
388 million, which represents an increase of
almost 4 per cent compared to the previous
year (FY 2013: EUR 373 million). Foreign currency fluctuations, particularly between the
euro and the Chinese renminbi (yuan), the
Brazilian real, and the US dollar prevented
higher growth.
Positive performance in all regions
Economic conditions in Europe were characterized by a consolidation, in which bioscience
companies were taken over pharmaceutical
groups. The Frickenhausen site (Germany)
counteracted this development with new
products and was able to increase revenue by
around 4 per cent compared to the previous
year, similar to the division as a whole.
For GBO, the market in the US is once again in
a growth phase. The demand for high-quality
products is growing. For the first time, Greiner
Bio-One USA’s revenue exceeded USD 100
million. Investments in increased capacity
were made at just the right time to support
this development. There is also continuous
development in South America. The production site in the US supplies
preanalytics products to
EXPANSION OF
all South American counPRODUCT SITES
tries with the exception
of Brazil. The site in Brazil
SECURES FUTURE
also performed accordGROWTH IN ALL
ing to schedule. In 2015,
AREAS
consistently increasing
demand for GBO products for blood sampling will be met by doubling the production space. Completion and
commissioning, however, will not take place
until the 2016 fiscal year.
In Asia, the target markets are China and the
ASEAN countries in particular. Performance in
China in 2014 was satisfactory. As part of a
joint venture (Greiner Bio-One Suns), Greiner
Bio-One supplied the greater Beijing and
39
Reliable detection of MRSA and toxigenic C. difficile in less than 100 minutes with Genspeed®.
Shanghai areas with the VACUETTE® blood
sampling system. Other products will be supplied to additional regions. In 2014, these
channels were used to further develop distribution activities, amongst other things.
Performance per product group
The Preanalytics business unit was also the
strongest growth driver in 2014. Demand
rose in all regions of the world that are supplied with these products, particularly the US
and Brazil. In 2014, the e-Health segment for
laboratories and hospitals was further developed. Barcode labeling is done in the factory,
ensuring seamless tracking and precluding
the possibility of the sample being assigned
to the wrong patient and another sample
being required. In Bioscience, a plastic tube
for bio-banks was developed that was very
well received by the market. This enables
long-term studies to be carried out to identify
biomarkers (medical and biologically measurable parameters for biological processes).
The Bioscience business unit signed a
40
contract with the diagnostic company Beckman Coulter to supply OEM products to
laboratories. The product, custom-made for
Beckman Coulter, was developed over two
years. This large contract underlines the
long-term customer relationship that Bioscience has with Beckman Coulter in the OEM
business.
In developing the Genspeed® Reader, Greiner
Bio-One Diagnostics has precisely met the
need of the market. The product segment fills
a niche market for which continuous market
growth is forecast. Further rapid tests for various areas of application can be developed on
the basis of the existing product range.
Compared to the previous year, Mediscan
grew by one per cent over the past fiscal year,
thereby achieving full capacity. In addition to
gamma and eBeam technology, the expansion
in capacity also fully utilized X-ray technology for sterilization. Particular features of the
equipment include the fully characterized X-ray
field, the highest possible dose homogeneity,
and the ability to precisely apply extremely low
The Bioscience division develops and produces special products for the cultivation and analysis of
cell cultures as well as microplates for high throughput screening.
doses, as is required to sterilize blood collection tubes.
Innovative products
In 2014, Greiner Bio-One once again brought
some innovative products onto the market.
With the Genspeed ® C.diff OneStep, a test
was developed that can detect an infection
with clostridium difficile (CDI), which can lead
to antibiotic-associated diarrhea, potentially
to pseudomembranous colitis, and even
death. It is a one-step, molecular diagnostic test with the motto “OneStep – one test,
four results”. The test avoids the often used
sequential, two-step diagnostic test procedures that combine different test systems
and test principles. Another application of
the Genspeed® test system is the Genspeed®
MRSA test. This is a DNA-based, diagnostic
array for qualitative detection of MRSA (Methicillin-resistant Staphylococcus aureus) from
nasal and throat swabs within 100 minutes.
It enables the detection of both known resistance genes, mecA and mecC.
Outlook for the current fiscal year
Forecasts for the current fiscal year point
to further growth. High single-digit growth
in revenue compared to the previous year
is expected. Investment will be a particular
focus for 2015 to enable the expansion of
production facilities. Firstly, the new Mediscan site will be completed and put into operation. Expansion of the production space at
the Hungary site also began
IN 2015,
in 2014. The new production building will be put into
GROWTH WILL
operation in 2015. Secondly,
CONTINUE IN
expansion work will start on
the production site in Brazil.
ALL AREAS
In order to meet increasing
need, capacity for the manufacture of blood
sampling products at the Monroe site (US)
will be expanded. 2015 will be a year of further development of existing technologies in
various product applications and the further
expansion of our market presence.
41
GREINER FOAM INTERNATIONAL
GREINER FOAM
INTERNATIONAL GMBH
HIGH-QUALITY FOAM,
NICHE PRODUCTS, AND
A STRONG MARKET
PRESENCE; THIS IS OUR
CLEAR VISION FOR THE
COMING YEARS.
Manfred Marchgraber
CEO Greiner Foam International GmbH
KEY INDICATORS
€
Revenue (EUR millions)*
Locations
Employees*
2014
2013
256
247
50
50
1,606
1,449
* Joint Ventures (Eurofoam, Unifoam) represented with a proportion of 50%
44
FIT FOR THE FUTURE
AND READY TO
CONQUER NEW MARKETS
With more than 50 years of experience in the production and processing
of foam, Greiner Foam International’s wealth of knowledge makes them
ideally placed for their acquisition ambitions around the world.
Greiner Foam International consolidates the foam
activities of the Greiner Group. Eurofoam and
Unifoam, which are joint ventures, produce and
process polyurethane foam for the upholstery,
mattress and automotive industries in particular. Greiner MULTIfoam produces composite
foam and the subsidiary, GuKoTech, develops
cork-rubber products. Greiner aerospace produces seat and back cushions for airplane seats
and Greiner PURtec manufactures foam insulation. For Greiner Foam International, 2014 was
a time of consolidation. It was also a time when
internationalization was successfully driven forwards.
Economic environment
As in previous years, 2014 was characterized by
the high price of raw materials. This particularly
affected the foam-producing companies Eurofoam and Unifoam as well as the subsidiary
MULTIfoam, which was confronted by high trim
foam prices. While demand in Germany and
Austria stagnated, some strong growth was
seen in eastern Europe. Consumers invested in a
higher standard of living.
IN EASTERN
An overview of
EUROPE, GREINER
the companies
The Eurofoam group, a 50% joint
FOAM INTERNAventure with the Belgian Recticel
TIONAL CONTINgroup, had a very good year in
UES TO GROW
2014 due to the growth in Central and Eastern Europe. The
sites in Poland and Romania also significantly
improved their results. This positive performance
will be followed by large investments in new
45
AM
ALIT Y FO
HIGH-QU
s a restful
ensure
ersatile. It
r lives.
is highly v
mfort in ou
o
c
s
e
id
v
pro
sleep and
Substantial increase in output at Unifoam
Greiner Foam International is very pleased with
the development of the joint venture Unifoam in
South Africa. In 2014, a new foaming machine
was installed, all foam types were successfully transferred to the new machine, a curing
store was built, and many new processes were
implemented. With some appropriate personnel
adjustments and sensible management structures, the team on site started the year full of
motivation and focused on results.
competencies, and reduced fixed costs. At the
end of the year, the results were positive and the
outlook is optimistic.
The strengths and weaknesses of Greiner
PURtec’s product range was analyzed. As a
consequence, rigid foam production at the
Schwanenstadt site (Austria) and the factory
in Niederdreisbach (Germany) were both shut
down. At aerospace and PURtec in the Czech
Republic, processes were analyzed and procedures improved. The product portfolio was
revised and the audiofoam product range was
taken over from Eurofoam. The first process optimizations and adjustments
GREINER PURTEC
in the production layout have
been implemented. Further
AND AEROSPACE
steps include modernization
ARE EQUIPPED FOR
and, as far as possible, the
automation of processes. The
THE FUTURE
Greiner aerospace companies
in China and the US are operating well.
Visible first results of the consolidation
For Greiner PURtec and Greiner aerospace,
2014 was their first year as part of Greiner Foam
International. The aim was to set both companies up for the future, concentrate on their core
New target markets
One clear target for Greiner Foam International
is Brazil. Negotiations are ongoing with a foaming company in the north-east of the country to
take over 51% of the shares in the company. The
technologies. In Austria and Germany, results
also improved. However, Germany continued to
be a very difficult and highly competitive market.
Capacity was expanded at MULTIfoam in Poland
in order to better serve increased customer
demand. GuKoTech recorded very good results
in 2014 and exceeded expectations. New customer projects were realized and a new product
was launched, the solar mat for solar panels.
47
Unifoam’s foaming equipment in Isithebe (South Africa) is the most modern in the country.
company’s product portfolio includes foam and
mattresses. Separate from this, there are also
talks with a foam producer in the south of Brazil. Both companies
THE FIRST STEP would be interestTOWARDS CHINA IS VERY ing as they would
provide nationwide
PROMISING. OTHERS coverage. The
WILL FOLLOW demand for mattresses and furniture is significant and in the south, the automotive
industry would also be an interesting customer.
Greiner Foam International has already found its
feet well in China. Special medical mattresses
and medical products were supplied to firstclass hospitals in China via the sales structures
48
of GBO Suns (a joint venture of Greiner Bio-One).
The CFDA certification for this was achieved after
intensive efforts. The next step will be to raise the
consumer potential for foam with organic components and customized mattresses. Discussions
and market research have already taken place in
Turkey, Egypt, and South Korea.
Outlook for 2015
In 2015, the Greiner Foam International businesses will be affected by socio-political developments within the European Union. It is expected
that consumer demand will fall because consumers are unsettled. By contrast, the aviation
industry will develop well due to the low crude
oil prices and the associated low jet fuel prices.
Many companies will invest in a new fleet or retrofitting of their existing airplanes. Greiner aerospace and Assistec (a Greiner Packaging division)
are already exploring the possibilities of working
together.
In the mattress segment, the possibilities of forward integration will be tested together with customers. The aim is for Eurofoam not just to manufacture the mattress core, but the whole mattress
for customers.
In South Africa, there is the potential for additional foam types and an expansion of the market position. There are thoughts of setting up a
processing facility in Kapstadt or Johannesburg.
Technical foam could also be marketed. Inquiries
have also been received from the automotive
industry.
Overall, Greiner Foam
FURTHER GROWTH
International is facing the
new year, with both its
WILL BE GENERATED
challenging conditions and
VIA ACQUISITIONS AND
new opportunities, with
optimism. The objectives
INNOVATIONS
are to expand existing
areas of business and set up new businesses
through acquisitions and innovations.
The Eurofoam Poland site in Zgierz has become the largest production and processing plant within
the Eurofoam group.
49
GREINER PERFOAM
GREINER
PERFOAM GMBH
2014 WAS AN
EXCEPTIONALLY GOOD
YEAR FOR GREINER
PERFOAM. FOR THE FIRST
TIME, WE GENERATED
REVENUE OF MORE THAN
EUR 100 MILLION.
Michael Schleiss
CEO Greiner Perfoam GmbH
KEY INDICATORS
€
Locations
Employees
52
2014
2013
106
98
6
6
754
751
SUSTAINABLE SUCCESS
THROUGH EFFECTIVE
OPTIMIZATIONS
The fiscal year 2014 has been one of the most successful in the history
of Greiner Perfoam. For the first time, we generated revenue of more than
EUR 100 million. Productivity and earnings were substantially improved
through effective structural and process optimizations.
Greiner Perfoam (GPF), based in Enns (Austria),
is one of the leading manufacturers of interior
parts and acoustic components for the premium vehicle industry. Products include parcel
shelves, loading space flooring, loading space
covers, absorbers and encapsulations for
engines, transmissions, or differentials. With 754
employees across six sites in Austria, the Czech
Republic, Germany, and China, the company
generated revenue in 2014 of EUR 106 million
(2013: EUR 98 million). The facilities’ excellent
series production capacity laid the foundations
for a positive earnings performance. Great
results were also achieved through structural
and process optimizations. Perfoam performed
well across all essential parameters (material
use, personnel costs, energy use, waste, and
complaints). Compared to previous years, there
were positive currency effects resulting from the
weak Czech koruna against the euro.
2014 was a good year
STRONG GROWTH IN
for the automobile
THE PREMIUM
industry
Despite highly unstaSEGMENT BENEFITS
ble economic trends
2014 BUSINESS
around the world, the
automobile
industry
DEVELOPMENT
globally has reported a
very good year. Growth was achieved in key
markets, with the only exceptions being some
European countries. In China and NAFTA
countries, a real boom has begun. In 2014,
China became the largest automotive market
in the world. Internationally, the premium market segment particularly benefited from this
53
ION
ANSMISS
R
T
D
N
A
ENGINE
LATIONS
ENCAPSU
insulation
coustic
ective as a
ff
e
ly
n
o
t
o
y efficiency
are n
rease energ
c
in
o
ls
a
t
u
tion.
b
rmal insula
through the
54
development, growing by 5 per cent, disproportionately stronger than the general automotive market (3 per cent). This provided Greiner
Perfoam’s business development with a significant advantage, since the company focuses on
the premium market segment, and, above all,
includes BMW, Daimler, Audi, Jaguar and Land
Rover amongst their customers. German automobile manufacturers in particular are leaders
in the premium segment. While the proportion
of German OEMs in the global market is around
20 per cent, these companies dominate the
premium segment with a market share of
around 66 per cent. Greiner Perfoam expects
the growth of the premium market to remain
stable until 2020, at around 5 per cent per year.
GPF’s market share for rear shelves in the premium segment is more than 50 per cent. The
company also has a considerable market share
for engine and transmission encapsulations.
GPF’s knowledge enables us to take a leading
role in this sector.
Key area of acoustic
components shows growth
In previous years, the production of interior
parts was the dominant core business of Greiner
Perfoam. The second cornerstone, the production of acoustic components, has recently
become more significant. The components are
used, among other places, in the chassis and
in the engine bay, for example in the doors, in
the passenger compartments or in the trunk
lid in order to insulate and absorb vehicle noise
and vibrations. Engine, transmission or differential encapsulations have been a technological
innovation. Encapsulations for individual automotive parts already existed. However, because
of its history, Greiner Perfoam possesses extensive knowledge of combining fleece and foam
materials. To do this, foam material is pressed
together with polypropylene natural fiber mats.
In addition to noise insulation, encasing individual components has another effect. Using
thermal insulation for the casing also results in
increased engine efficiency. Around six years
ago, the company developed the first encapsulations for acoustic insulation with BMW and
have been supplying them ever since. At the
end of 2013, Perfoam and several other competitors received an inquiry for a large number
of engine and transmission encapsulations for
BMW’s large engine series. In the middle of
March 2014, after intensive negotiations and
various stages of develACOUSTIC COMPOopment, they succeeded
in winning the majority of
NENTS BECOME A
what is a very important
GREATER PROPORTION
package for them. Series
production deliveries will
OF OVERALL REVENUE
start in 2015.
Greiner Perfoam is meeting planned growth in
the acoustic components segment by expanding the capacity of the Linz site. Two production
buildings will be taken over from neighboring
Greiner MULTIfoam so they can handle orders
that have already been fixed for the next few
years.
55
In the fourth quarter of 2014, an attractive new customer was won in the form of Tesla. Perfoam is
making the loading space cover for the Model X. Series production is scheduled to start in July 2015.
Acquisition goals for 2014 exceeded
The fiscal year 2014 was also a good year when
it came to acquisitions. We easily exceeded our
defined goals. As well as the acoustic package
for BMW’s large engine series, Greiner Perfoam
also won the tender for the
PERFOAM PROFITED loading space covers for
the new Bentley SUV. Even
FROM NEW ORDERS though this order doesn’t
FROM BMW, involve large quantities, it
proves the confidence that
BENTLEY, DAIMLER, companies have in PerAND TESLA foam’s high quality and
on-time delivery. The component being manufactured for Bentley is the
56
most high-end and expensive in the history of
GPF. Small-scale production also included the
transmission encapsulation for the Mercedes
AMG GT. This order is also highly significant
as it represents the acquisition of another customer in the acoustic encapsulation segment in
addition to BMW. Until now, it was mainly rear
shelves that were produced for Daimler. Audi
also commissioned Greiner Perfoam to develop
encapsulations. The order from Tesla Motors
for the loading space cover for the new SUV
Model X constitutes a volume of around EUR 25
million between now and 2020. The order was
placed at the beginning of October 2014 and
Tesla wants to start series production for the
new vehicle in July 2015. This short development time is rather unusual in the industry but
underlines the flexibility of Greiner Perfoam. Discussions about further orders for other model
series are already taking place. BMW placed
an order for the acoustic insulation package
for the successor to the BMW 5 GT. For this
project, Greiner Perfoam will work closely with
Eurofoam, the joint venture of Greiner Foam
International.
Perfoam will make the loading space cover for
the new Bentley SUV. The component is the
most expensive in the history of the company.
Premium for premium
With the 2020 Vision, “Our core products make
us the most powerful partner for premium automobile manufacturers in the acoustic and interiors segment,” GPF is clearly positioning itself as
the premium supplier for premium OEMs for the
coming years. The company is heavily focused
on the main trends in the industry. Greater efficiency has been one of the market’s essential requirements for the last few years. Greiner
Perfoam has responded
to this with lighter comNAFTA COUNTRIES AND
ponents which must also
CHINA ARE GROWTH
meet high requirements in
stability and load-bearing
DRIVERS IN THE PREcapacity. For this, there
MIUM SEGMENT
is an increasing focus on
carbon fiber materials.
The first production orders for this are already
expected to arrive in 2015. Another trend that
Perfoam is dealing with is electric vehicles. Geographically, the direction of the automotive market
is clearly towards NAFTA countries and China,
which are the largest markets, particularly in the
premium segment. Greiner Perfoam intends to
support their customers in these growth markets.
The site in China will be adapted for this development and Mexico will be evaluated as the site for
the North American market, in order to maintain
proximity to the premium OEM customers who
are planning to develop significant capacity there
over the coming years.
57
GREINER TOOL.TEC
GREINER
TOOL.TEC GMBH
WE RESPOND ACTIVELY
TO STRUCTURAL MARKET
CHANGES BY CONSISTENTLY FOCUSING ON
OUR GROWTH POTENTIAL
AND CLEAR STRATEGIES.
Gerhard Ohler
CEO Greiner Tool.Tec GmbH
KEY INDICATORS
€
2014
2013*
71
79
Locations
10
12
Employees
763
764
60
POSITIVE OUTLOOK
DESPITE CURRENT
CHANGES IN THE MARKET
In the fiscal year 2014, the adverse global situation in the window
profile market had a significant impact on Greiner Tool.Tec revenue.
The Technical Profiles division and the components business
performed exceptionally well.
Greiner Tool.Tec (GTT) is one of the world’s leading
companies in the manufacture of tools, machines
and complete equipment for profile extrusion. The
group has more than 10 sites and 763 employees. Since 2012, Greiner Tool.Tec has been organized in two divisions: Working alongside Greiner
Extrusion, the “Window” division focuses on the
core business and produces tools, machines and
equipment for the manufacture of window profiles from PVC (polyvinyl chloride) in the premium
and medium product sector. In the Technical Profiles division (previously “Non-Window”), Greiner
Tech.Profile manufactures tools, machines and
equipment for the production of technical profiles.
This mainly includes cable ducts, but also guttering, profiles for the construction and automotive
industry, and wood-plastic composite products
such as decking and fences.
Difficult market conditions
affect business activities
The fiscal year 2014 was particularly affected by
the unfavorable market conditions in the window
profile market, the company’s core business.
Greiner Tool.Tec generated revenue in 2014
of EUR 71 million, which represents a fall of 10
per cent compared to the
fiscal year 2013. Despite
FEWER NEW WINthis fall, the company was
DOWS FACTORIES
largely able to achieve their
earnings targets. The fall in
BUT 2014 EARNrevenue can be attributed
INGS GOALS STILL
to the saturation in the key
markets of China and RusREACHED
sia. The number of window
profile extruders is declining there, as is this type
of project business. In addition, the demand for
61
EM
INE SYST
.L
D
E
R
E
H
0 pe r
WITH T
ore than 8
n, m
er Extrusio
profile
from Grein
eeded for
n
y
rg
e
n
e
ed.
cent of the
can be sav
extrusion
62
plastic windows in China in the last few years has
been steadily decreasing because their quality,
compared to windows with aluminum frames, did
not meet the criteria demanded by the market.
Selective growth in Europe
Over the last fiscal year, the business development of the eight largest window profile manufacturers produced a very mixed picture. However, revenue results in the key account segment
were significantly above forecast figures. While
the market in Europe is generally stagnating,
there has been selective growth in Great Britain,
Ireland, and Poland. In these markets, the level
of investment in the window profile segment is
above average. In particular, Poland and other
Eastern European countries such as Romania
and Bulgaria made the most of the relevant European Union funding. Over the last few years, this
has enabled Poland to become one of the main
window profile extruders. Greiner Extrusion is
also involved in this trend.
Positive developments in North America
After Asia and Europe, North America is the third
largest market for Greiner Tool.Tec. In the US,
2014 saw more than 1 million private homes
were constructed, the first time in years that the
million mark has been exceeded. This level of
construction activity is reflected in the extremely
positive results of both companies in the US,
Greiner Extrusion US in Meadville (Pennsylvania)
and Automated Extrusion in Minneapolis (Minnesota). These businesses made an exceptional
contribution to divisional earnings in 2014. During
the last fiscal year, Greiner Extrusion US also won
two new machine customers and one new tool
customer. In addition, with the support of Automated Extrusion, the company developed a new
tooling standard for fence profiles. One of this
tool’s best features is its high level of robustness.
MID.POWER TOOLING for the mid-range
performance segment
To expand the lower end of the product portfolio,
Greiner Extrusion developed an efficient tool for
the mid-range performance segment in window
profile extrusion. The MID.
POWER TOOLING (MPT)
THE AMERICAN MARtool solution will be manKET DEVELOPED POSufactured using Austrian
technology at the site in
ITIVELY DUE TO
Shanghai (China). Over the
INCREASED CONlast fiscal year, the site in
Shanghai was completely
STRUCTION ACTIVITY
converted to MPT and
recorded strong results.
Positive developments in
Technical Profiles division
The comparatively new Technical Profiles division
performed well in only its second full fiscal year,
significantly exceeding the revenue forecast for
2014. This is all the more remarkable as Greiner
Tech.Profile (GTP) vacated their site in Pettenbach
(Austria) during the previous fiscal year and made
a complete switch to the Tool.Tec headquarters
in Nußbach (Austria). GTP’s customers include,
63
amongst others, the main cable duct manufacturers. In the future, the company wants to further
expand other product ranges and achieve greater
distribution synergies with the Window division.
Components business
becomes more significant
In addition to the two main market segments,
“Window” and “Technical Profiles”, the components business of the
TECHNICAL PROFILES GPN (Greiner ProducNetwork) is also
DIVISION SIGNIFICANTLY tion
becoming increasingly
EXCEEDED FORECAST significant. The compoREVENUE FOR 2014 nents business supplies
metal-finished tooling to
customers, who then carry out their own internal
optimization. In the 2014 fiscal year, this segment
performed extremely well, significantly exceeding revenue and earnings goals. This result can
be attributed to an investment in sales activities.
Active market strategies were crucial to the success, particularly in the Technical Profiles segment. Currently, the majority of customers are
still in Europe. Due to increased sales activities,
however, the radius is set to increase.
GPN also recorded success through the ongoing
64
optimization of internal processes, resulting in a
clear improvement in on-time delivery in 2014.
In terms of personnel, the company can reflect
on national recognition for two apprentices. In
the future, the company will continue with the
recently introduced idea of sending apprentices
and trainees abroad for several weeks.
Energy efficiency has top priority
As part of their 2020 Vision, Greiner Tool.Tec
has set itself the goal of advancing into new
Using flow.control, the speed of the profile
extrusion can be controlled, resulting in significant material savings.
In the US, the company developed a tool for the extrusion of fence profiles that have a particularly
high level of robustness.
markets and increasing their market share. Key
topics include energy efficiency and conserving
resources. Several years ago, in line with this
trend and the idea of “Plastics for Life”, GTT
developed effective energy-saving systems,
which met with great interest from customers.
GESS, the Greiner Energy Saving System, can
save more than 80 per cent of the energy used in
profile extrusion. The co-extrusion procedure, in
which several materials are used, helps to reduce
material consumption and introduces the use of
recycled materials. Innovations such as flow.control and PDC (Post-Dry-Calibration) tanks result in
improved profile quality and minimal water consumption. These systems are an essential part of
the new RED.LINE extrusion system but can also
be retrofitted to existing equipment if required,
resulting in the maximum amount of flexibility.
Promising markets in India and Central Asia
Despite the difficult global situation in the markets,
Greiner Tool.Tec can see signs of positive developments in India, Kazakhstan, and Uzbekistan.
One example of a great success is an order for
12 lines from Uzbekistan. Greiner Tool.Tec continues to have good contact with its customers
in Russia and Ukraine, which are successfully
manufacturing window profiles despite the difficult political situation. In terms
of strategy, GTT will increasingly
COMPONENTS,
expand the components busiREPLACEMENT PARTS,
ness as well as the service and
replacement parts business.
AND SERVICE BUSI-
NESSES BECOME
Outlook
In order achieve the growth
MORE SIGNIFICANT
objectives defined in the vision,
specific strategies were developed in 2014 to
enable Greiner Tool.Tec to respond to structural
changes in the market. In 2015, this means
expanding activities in the mid-range market
segment, expanding the replacement parts and
service businesses, advancing into the technical profile segment and, in the medium-term,
expanding into new areas of business within the
extrusion industry.
65
66
GREINER K.G.
GHO
Austria
Greiner Holding AG
GREINER GMBH
Germany
GPI
 100%
GBO
GFI
Greiner Packaging International GmbH
Austria
100 %
Greiner Bio-One International GmbH
Austria
100 %
Greiner Packaging GmbH
Austria
100 %
Greiner Bio-One GmbH
Austria
100 %
greiner packaging slusovice s.r.o.
Czech Republic
100 %
Mould & Matic Solutions s.r.o.
Czech Republic
49 %
Cardbox Packaging Slusovice s.r.o.
Czech Republic
49 %
37.7 %
50 %
Greiner Assistec S.R.L.
Romania
THRACE GREINER PACKAGING S.R.L.
Romania
AS Greiner Packaging
Estonia
Greiner Packaging d.o.o.
Slovenia
Greiner Bio-One North America Sales Corp.
USA
100 %
PPHiU „Kerko“ Sp.
Poland
Greiner Bio-One France S.A.S.
France
UAB LITFOAM
Lithuania
100 %
Greiner Bio-One Brasil Produtos Medicos
HospitalaresLtda. · Brasil
100 %
„EUROFOAM-KAL
Russia
Greiner Bio-One Brasil Service Tech Sistemas, Produtos E Servicos para saude Ltda. · Brasil
100 %
EUROFOAM Hungary Kft
Hungary
100 %
100 %
EUROFOAM Sund
Serbia
100 %
Greiner Bio-One Suns Co., Ltd.
China
51 %
Greiner Bio-One India Private Limited
India
51 %
50 %
Greiner Bio-One GmbH
Germany
100 %
Greiner Bio-One Ltd.
UK
51.84 %
70 %
51 %
TOV Greiner Packaging
Ukraine
Caria Sp. z o.o.
Poland
Porolon TzOV
Ukraine
Greiner i JP Packaging d.o.o.
Serbia
OOO Greiner Packaging
Russia
EUROFOAM Polska Sp. z
Poland
Greiner Bio-One North America, Inc.
USA
100 %
Greiner Bio-One (Thailand) Ltd.
Thailand
Calix d.o.o.
Croatia (in liquidation)
Greiner Packaging d.o.o.
Serbia
100 %
Eurofoam GmbH
Austria
Greiner Bio-One VACUETTE Schweiz GmbH
Switzerland
100 %
Greiner Packaging Kft.
Hungary56.05%
Greiner Packaging S.R.L
Romania
 62.3%
100 %
51 %
100 %
TOV Greiner Real Estate
Ukraine100%
Greiner Real Estate Vermietung St. Gallen GmbH
Austria
0.8 %
50% 
Greiner Packaging Limited
UK
40.09 %
 43.95 %
GREINER PACKAGING Sp. z o.o.
Poland
 59.91%
 90%
greiner packaging s.r.o.
Czech Republic
Greiner Bio-One Hungary Kft.
Hungary
Greiner Foam International GmbH
Austria
Greiner Bio-One Co. Ltd.
Japan
Greiner Bio-One B.V.
Netherlands
Greiner Bio-One BVBA
Belgium
100 %
100 %
98.33 %
Poly spol. s. r. o.
Slovakia
S.C. EUROFOAM S.R.L.
Romania
S.C. EUROFOAM S
Romania
S.C. FLEXI MOB T
Romania
EUROFOAM B. V.
Netherlands
100 %
BPP spol. s.r.o.
Czech Republic
100 %
SINFO spol. s.r.o.
Czech Republic
Greiner Bio-One Diagnostics GmbH
Austria
100 %
Mediscan GmbH
Austria
100 %
Mediscan GmbH & Co. KG
Austria
100 %
EUROFOAM TP spol. s.r.
Czech Republic
Eurofoam BG ood
Bulgaria
Parabel J.V.
Belarus (in liquidation)
EUROFOAM Deutschland G
Germany
Greiner Packaging Corp.
USA100%
EUROFOAM Bohe
Czech Republic
Greiner Packaging Vertriebs GmbH
Germany100%
KFM-Schaumstoff
Germany
Greiner Assistec GmbH
Austria
100 %
Eurofoam Industry
Czech Republic
10 %
Greiner MULTIfoam GmbH
Austria
greiner assistec s.r.o.
Czech Republic
Greiner Assistec, S. A. de C. V.
Mexico
100 %
Greiner MULTIfoam Sp. z
Poland
greiner packaging holding ag
Switzerland
100 %
GuKo Tech GmbH
Germany
greiner packaging ag
Switzerland
100 %
Greiner Foam South Africa (Pty)
South Africa
Rundpack AG
Switzerland
100 %
Greiner Packaging B.V.
Netherlands
Unifoam (Pty) Ltd.
South Africa
100 %
Greiner Packaging Distribution SARL
France
100 %
Greiner Packaging GmbH
Germany
100 %
Greiner PURtec GmbH
Austria
Greiner PURtec CZ spol.
Czech Republic
Greiner PURtec GmbH
Germany
Greiner aerospace GmbH
Austria
Greiner aerospace CZ sp
Czech Republic
Greiner aerospace Inc.
USA
Greiner Aerospace (Shan
China
Austria
GTT
Greiner Extrusion GmbH
Austria
100 %
100 %
Germany
100 %
France Filières Plastiques S.A.S.
France
51 %
Germany
100 %
Solufip S.A.S.
France
24 %
Greiner Extrusion US, Inc.
USA
100 %
51.72 %
Greiner Perfoam Automotive Interior Systems
Shenyang Co., Ltd. · China
100 %
LININGRAD“ LLC
100 %
GPN GmbH
Austria
GPN strojirna s.r.o.
Czech Republic
100 %
Greiner Tech.Profile GmbH
Austria
95 %
deri d.o.o.
100 %
90 %
Greiner Extrusion Technology [Shanghai] Co., Ltd.
China
100 %
60 %
t.
100 %
Automated EDM, Inc.
USA
100 %
vendor finance GmbH
Austria
100 %
100 %
90 %
 10%
. z o.o.
Greiner Tool.Tec GmbH
Austria
100 %
Greiner perfoam spol. s r.o.
Czech Republic
50 %
z o.o.
Austria
 28%
GPF
100 %
100 %
100 %
49 %
100 %
S.R.L.
100 %
TRADING S.R.L.
50 %
100 %
51.37 %
51 %
.o.
80 %
100 %
58 %
GmbH Schaumstoffe
100%
emia s.r.o.
GmbH
s.r.o.
100 %
100 %
Greiner Renewable Energy GmbH
Austria
100 %
100 %
100 %
100%
z o.o.
Greiner Technology & Innovation GmbH
Austria
100 %
Greiner Group Services s.r.o.
Czech Republic
100 %
100 %
) Ltd.
100%
Greiner Enterprise Management Consulting
(Beijing) Co. LTd. China · China
Greiner Real Estate GmbH
Austria
100 %
Greiner Real Estate s.r.o.
Czech Republic
100 %
Greiner Real Estate Sp. z o.o.
Poland
100 %
SCI Greiner Real Estate
France (in liquidation)
100 %
Greiner Real Estate Vermietung
St. Gallen GmbH · Austria
99.2 %
OOO Greiner Real Estate
Russia
100 %
100 %
50 %
100 %
s.r.o.
pol. s.r.o.
100 %
100 %
100 %
100%
Production
100 %
Distribution
nghai) Co., Ltd.
100 %
Administration and Leasing
As of 12/31/ 2014
Legal Notice
Owners, editors and publishers:
Greiner Holding AG
Greinerstraße 70
4550 Kremsmünster, Austria
Concept, design, editing: Group Communications
Images: Bentley Motors, Greiner Group, iStockphoto.com,
Robert Maybach, Tesla Motors
Tel.: +43 7583 7251-60301
Fax: +43 7583 6308
[email protected]
www.greiner.at
Note
The commercial rounding of numbers
may lead to slight calculation differences. The actual development of
future-related statements may deviate from stated expectations.

GREINER GROUP ANNUAL REPORT 2014

Transcription

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