• Turnover of €90.7 million in year ended 31 January 2018
• Turnover up from €70 million in 2016
• Over 25% year-on-year growth over the last three years
• Steady EBITDA of €6.8 million
• EBITDA growth % is level due to M&A activity
Quadpack Industries, manufacturer and provider of packaging solutions to the global beauty industry, delivered strong results in 2017, thanks to its diversified business model and sustainable growth strategy. EBITDA reached a healthy €6.8 million, an increase of 2% over the 2016 results.
With a consolidated presence in the European skincare packaging market, 2017 saw the company increase its penetration of the fragrance and make-up markets, together now accounting for 35% of its business. Its hybrid manufacturing/sourcing model keeps its offering flexible, while delivering specialised differentiation through its own manufacturing output.
Over the last four years, Quadpack has been establishing its own Manufacturing Division with a number of strategic acquisitions in Spain, including the Quadpack Wood factory, the Quadpack Impressions decoration plant and the Quadpack Plastics injection moulding facility – each acquired to create centres of excellence in their respective areas. Continued investment in each plant has steadily upgraded their facilities and increased combined production capacity to 170 million pieces a year. Investment in the division in 2017 rose to €1.1 million euros.
CEO Tim Eaves attributes the strong results to this hybrid structure, coupled with a unique business model. “We have what we call a ‘Little Big Company’,” he says. “We have offices in 15 cities on four continents. Each of these acts with the agility of a SME, within the framework of our global, corporate structure, bringing stability and long-term sustainability. Our hybrid setup continues to set the standard in our industry. It gives us a level of flexibility which other manufacturers lack, being able to source from around the world. At the same time, it allows us to offer a competitive edge to our clients through our own specialised manufacture, unlike sourcing-only operations.”
2016 M&A activity affected the EBITDA growth rate. The acquisition of Collcap Group caused a slight levelling of the growth percentage in 2017 compared to the upward curve of previous years.
2017 marked the commencement of territorial expansion outside of Europe, with the establishment of a new commercial operation in the Asia-Pacific region. Led from Melbourne, Australia, and Hong Kong, substantial growth is forecast for this year, with sales expected to exceed €7m. This year, Quadpack will also target the US market, where it currently has a small but loyal client base on the East Coast. Plans to penetrate this market include a new on-the-ground team under a dedicated Managing Director for the region, and the appointment of East Hill Industries as exclusive distributor of Quadpack’s own Q-Line range of products.
Quadpack’s corporate social responsibility (CSR) strategy, announced in March 2018, will also extend its reach within the company, where Quadpack finds itself ahead of the game in the beauty packaging sector, aligning itself with multinational clients in ensuring responsible governance.
Looking ahead, estimated 2018 turnover is €106m. Growth plans this year are concentrated on regional expansion, product offer and the Manufacturing Division. A €2m investment budget is earmarked for plant improvements and new equipment in the factories. Quadpack ultimately aims to reinvest up to 33% of its profit back into the business.
In addition, a new department of Design and Advanced Technologies will propel the company’s research and development. Its efforts are aligned closely with those of the Skincare, Make-Up and Fragrance Divisions. An exciting roadmap is under development to enrich Quadpack’s product portfolio with innovative solutions, both designed in-house and sourced from its network of manufacturing partners worldwide.
Eaves concludes: “This current year will see much activity as we continue our growth plans, expanding into new regions, increasing our manufacturing capacity and leaving a positive impact on the world through our CSR strategy.
“Our business will benefit from the investments and initiatives we made in 2017. These actions, combined with our focus on growth and the power of our connected businesses, make us optimistic about 2018 and beyond.”
Quadpack sets up laboratory services in the Americas
Beauty brands in the Americas now have access to testing services of their packaging at Quadpack’s facilities in Dallas, Texas. The service adds a further level of quality control, as Quadpack seeks to offer solutions in the region, for the region.
Quadpackers volunteer for youth inclusion
Eight Quadpackers from France have engaged in a volunteer project to help young people prepare for the job market. The project is part of Pro'Pulse, a free preparatory course with a personalised and comprehensive approach that facilitates access to apprenticeship for young people without qualifications.
Quadpack receives EcoVadis Gold Medal for sustainability performance
Quadpack has been awarded a Gold Medal by EcoVadis, the global, independent rating agency for sustainability management. The beauty packaging provider has improved its score thanks to its policies and actions in ethics, labour & human rights, environment and sustainable procurement.
Innovative collaboration for microplastics research
Quadpack Foundation has partnered with UAB Research Park to support scientific research on microplastics and their effects on people and the environment. The foundation sponsored the 12th edition of Generació d’Idees, an initiative that aims to foster the entrepreneurial spirit and innovation culture among researchers and doctoral students, connecting them with the current challenges of industries.
Pioneering 3D printing technology produces functional, ultra-realistic models
Quadpack has expanded the 3D modelling capability at its UK-based rapid prototyping centre. Following an upgrade to Stratasys’ J850 Prime 3D printer, it is now working with new materials to offer new finishes, textures and Pantone colours. The current setup enables it to produce fully-functional models that look more realistic than ever.
Structural measures reinforce good governance at Quadpack
Quadpack’s governance structure has been strengthened at board level, with the appointment of its first independent members. In addition, three new committees have been created focused on sustainability, audit and risk, and remunerations and nominations.
From dreams to reality: youth innovation in sustainable packaging
For the fourth consecutive year, Quadpack collaborates with Elisava design school on students’ final degree projects. The graduate project gives Quadpack unique insights into the minds of the next generation, bringing fresh thinking to industry issues, while supporting young designers as they embark on their career.
Fostering innovation with creative young talent
Imagine a fragrance accessory that is both an aromatherapy device and a bold fashion statement. Too futuristic and conceptual? Perhaps – but this product exists, has a name and a creator: ‘NI’ was developed in 2018 by designer Amaia Aranzabal as a final-year project at the prestigious Elisava design and engineering school in Barcelona, Spain. The challenge for that year’s graduating class had been set by Quadpack, partnering with Elisava for the first time.
Sharing value by supporting the community
From May to July, 13 volunteers from Quadpack went to the Casal dels Infants’ headquarters, in Barcelona, to share their knowledge and professional experiences with 18 people at risk of social exclusion. While Casal dels Infants covers the behavioural component of the training, the technical subjects are taught by experts – volunteers that work in organisations like Quadpack.
Collaboration marks Quadpack’s Asian expansion plans
Quadpack has appointed Korean packaging manufacturer LM as ‘Quadpack Official Partner’, to help accelerate its penetration of the Asian market. Along with the agreement with Yuga in China announced in February, Quadpack is establishing partnerships in a new, regional operating model designed to help build the Quadpack brand.
Quadpack embarks on Industry 4.0
Smart manufacturing is opening a whole new world of opportunities for Quadpack. After months of pilot tests, the beauty packaging manufacturer and provider is launching its Industry 4.0 project at the Quadpack Wood plant. The wooden components factory now has 63 machines connected by Internet of Things (IoT) devices that will provide real-time data, giving process visibility and efficiency control of the equipment.
Quadpack scores ‘Leading’ APCO sustainability rating in Australia
Quadpack’s sustainability performance rated highly in the 2021 Annual Report of the Australian Packaging Covenant Organisation. The score reflects the implementation of Quadpack's sustainability strategy, a new framework set in motion at the start of 2020.
New investments put Quadpack at the forefront of smart manufacturing
Increased manufacturing capabilities are one of Quadpack’s priorities for the next four years. By 2025, the beauty packaging provider aims to lead innovations in airless and sustainable products, offering solutions “in the region, for the region”. With a clear strategy and a roadmap in mind, Quadpack’s Operations team has the mission of strengthening its industrial capacity through ambitious investments that are being globally deployed.
Packaging with a positive impact on people and the planet
Sustainability is a long-term commitment with innovation, transparency and change. As a packaging manufacturer and provider, Quadpack is directing the sustainable transformation of its portfolio through its ‘positive-impact packaging’ strategy. By using data-based assessment tools to measure products’ carbon footprint, circularity and other key performance indicators, the strategy brings more accountability to Quadpack’s sustainable innovations.
Quadpack sets its sights on China with Yuga partnership
The growth of the Chinese cosmetics industry has prompted Quadpack to commence a commercial push into the domestic market. An agreement with long-term partner Yuga will allow Quadpack to offer its Q-Line range to brands seeking the quality, performance and distinction of products ‘Made in Europe’.
2021: It’s time to embrace the change and build a better future for all our stakeholders!
2020 came as a ‘stress test’ to all businesses and industries, ours being no exception. The challenges, however, helped us evolve as a business and as individuals. As the year draws to a close, I’m grateful to our team, our clients, our banks and our partners for what 2020 brought us: more resilience, collaboration and empathy.
Louvrette one year on: a successful journey
What happens when German engineering excellence meets creativity born in Barcelona? A raft of innovative solutions, developed, produced and delivered in a way that’s sustainable, creative and efficient. That is just one of the outcomes of the rare but successful ‘marriage’ between German manufacturer Louvrette and Quadpack. A lot has happened in the year since the acquisition, which pushed Quadpack into the Top 10 of European beauty packaging providers.
Virtual events: a new conversation has started
The beauty industry has always relied on the senses to promote its products: touching, seeing, smelling and trying a product has been an integral part of sales and marketing strategies. Until now. Webinars and online exhibitions have boomed in 2020 and brought more ways to interact with customers and partners.
Doing it right, differently, better
In a new world marked by changing behaviours and conscious consumerism, needs and market demands, businesses are increasingly governed by ESG (environmental, social and governance) standards. For years, Quadpack has been committed to these three factors that measure the environmental and societal impact of a company.
- Mariam Khan
- Company News -> QP Corporate News
- Created 24 Jul 2018
- Modified 02 Oct 2018
- Hits 1726