Packaging News – Multivac UK Ltd, a subsidiary the German family run, Multivac Group reported in its latest financials that both turnover and profits were somewhat flat, compared to the previous period.
Accounts filed at Companies House under Multivac UK Ltd show that turnover only rose one half of a percentage to £83m for the the year ended 31 December 2023, up from £82.6m in 2022. A rise of just £400k.
Additionally, the company reported pre-tax profits of £7.96m, down £240k, from £8.2m.
A statement by the board as part of the financials said: “Sales in 2023 improved only slightly on 2022 due mainly to timing of equipment deliveries falling into 2024 and reduced selling prices for film materials as a result of lower raw material costs. Gross margins improved due to product mix reasons.
“The business remains buoyant and continued to invest in our organisational structure and business premises, including a new innovation centre.
“Multivac continues to develop the product range, introduce new models and develop innovative applications for our customers. The company plans to invest further in the organisation structure and premises in 2024.”
About Multivac
For more than 60 years Multivac Group is a packaging solutions provider and technology partner to customers around the world from smaller-scale, artisan producers to large global corporations in virtually all market sectors, from food to medical and pharmaceutical products through to consumer good and industrial products of all types.
Multivac Group’s packaging products and solutions encompasses an extensive range of technologies, handling and automation solutions, labelling and marking equipment, inspection systems and quality control systems, as well as, packaging materials. Their vast product portfolio can meet the widest range of processing and packaging requirements – from slicing and portioning all the way through to bakery technology and labelling.
Multivac UK Ltd is a daughter company of the Multivac Group, with approximately 165 employees who are based in its head office in Swindon or work remotely across the UK.
The Multivac Group operates worldwide with over 7000 employees from subsidiaries in more than 80 countries serving customers in 160 countries and has its headquarters in Wolfertschwenden, Germany.
Multivac UK Ltd has approximately 165 employees who are based in its head office and Innovation Centre in Swindon.
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