International expansion and integration

VPK expanded its presence in Southern Europe with the acquisition of IEMME Packaging and Open Imballaggi in Italy. These acquisitions align with the strategy of combining locally rooted production capacity with an integrated business model. The successful integration of the Iberian Arteche Group into Corex and the rollout of fanfold packaging across Europe also contributed to the broadening of activities.

 

Sustainability and innovation in practice

VPK’s products are inherently recyclable, but the company goes further by making its production process more sustainable. Thanks to targeted investments, VPK now boasts the lowest CO₂ emissions in the sector. Examples include the installation of a biomass boiler in Portugal and the development of the Alizay site into a circular hub. The launch of an in-house Product Carbon Footprint Calculator provides customers with insights into the climate impact of their packaging, reinforcing VPK’s role as a partner in the sustainability of the entire value chain.

 

Investments in capacity and efficiency

To continue meeting customers’ packaging needs, VPK further invested in its production capacity. A new corrugator was installed in Poland, while in Belgium, the packaging division was strengthened with a new corrugator and casemaker. These investments enhance production efficiency and flexibility, ensuring a future-proof service level for customers.

 

Financial results 2024

Despite a slow recovery in industrial production and pressure on consumption, VPK Group achieved a turnover of €1.8 billion in 2024, a slight increase compared to 2023. EBITDA amounted to €217 million, with total investments reaching €159 million. The successful launch of the paper mill in Alizay further strengthened the group’s vertical integration.

Outlook

VPK Group continues to focus on sustainable growth, innovation, and customer orientation. We build on our strong foundations: an integrated model, local anchoring, and a diversified product portfolio. Our ambition is clear: to integrate the paper we produce as much as possible into the cardboard division and to build a forward-looking, circular economy together with our customers. The dedication and expertise of our employees remain the key to success.