Aluflexpack AG achieves solid results in FY 2023 and confirms outlook for 2024

We are proudly announcing that our Annual report 2023 has been published!


You can find it on the following link: Annual Report 2023



Ad hoc announcement pursuant to Article 53 of Listing Rules of SIX Swiss Exchange

Reinach (Aargau), 28 March 2024



  • Audited full-year net sales increased by 6.5% to €380.3m in 2023 (2022: €357.0m), 4.2% organic.[1] Excluding effects from hyperinflation accounting in Türkiye (IAS 29), net sales amounted to €380.6m[2]
  • EBITDA before special effects (SE) increased by 4.4% to €48.6m in 2023 (2022: €46.6m)[3]
  • Operating cash flow amounted to €30.0m (2022: €14.7m), supported by improved trade working capital management
  • Organic expansion in Drniš completed and commercial production started; capital expenditures decreased to €34.4m (2022: €53.2m)[4]
  • Confirmed outlook for 2024: net sales excluding IAS 29 of €370-410m and EBITDA before SE of €51-56m; focus on deleveraging and generating free cash flow



Group CEO Johannes Steurer says: “In 2023, we continued to increase sales across all our end markets despite the difficult political and economic climate around the world. The Group has proven its ability to withstand challenges by embracing teamwork and proactively engaging with our customers, suppliers and other stakeholders. As we look ahead, we have every confidence that we will be able to seize opportunities, capitalise on the capacity expansion at the new production facility in Drniš and synergise with the new locations in the USA and North Africa – while continuing our commitment to innovation and sustainability.”



Read the full Ad hoc announcement and Full year 2023 results presentation




[1] Organic net sales equal Group reported net sales less net sales from Turkish subsidiary Teko, which was acquired on 12 May 2022. In 2023, the effects of Teko’s consolidation on the Group’s reported net sales amounted to €25.5m.

[2] As of 30 June 2022, Aluflexpack is required to apply IAS 29 “Financial Reporting in Hyperinflationary Economies” to its operations in Türkiye. This includes the adoption of IAS 21 “Effects of Change in Foreign Exchange Rates”.

[3] EBITDA before special effects (SE) refers to operating profit before interest, taxes, depreciation and amortisation adjusted for costs and gains considered by management to be non-recurring and/or non-operational. A detailed reconciliation can be found on pages 58-61 of the Annual Report 2023.

[4] Capital expenditures indicate payments made for purchases of property, plant and equipment (PPE) and intangible assets.