“We notice that the Spitler are currently rather empty. Orders are declining. At the same time, the demand for antibody tests and virus detectors is increasing,” said CEO Axel Khner in an interview with the ONachrichten. This is both a result of the corona virus.
Basically, however, this division belongs to those areas of the group that are developing positively. Likewise, the Packaging division, which produces food packaging, among other things. The fact that people look more closely at hygiene and food storage during these times is good for the company in this area. The development is certainly negative in the car trade and in aviation. The latter will probably leave out the whole year, says Khner. At 40 million euros, their sales are manageable, in contrast to the automotive industry at 150 million euros. “In principle, however, diversification and standing on so many legs has also proven its worth,” says Khner.
4000 employees in short-time work
Of course, there is hardly anything of all of this in the 2019 balance sheet. The group’s sales rose by three percent to 1.675 billion euros. Cash flow increased from 128 to 144 million euros. This has to do with the fact that commodity prices remained the same or even fell in the past year.
Forecasts are practically impossible this year. “Almost everything is possible. From increases in some areas to declines. The main question is how quickly the auto industry can start up again. At the moment, however, there is only a maximum of two shifts instead of three. Some have not even started,” says Khner .
Greiner has not yet had to give notice. Of the 10,745 employees at 140 locations worldwide, 4,000 are on short-time work or similar measures. In Austria there are 1450 of the 2543 employees. “The rules in Austria are very good compared to other countries,” Khner praises the federal government.
The complete takeover of the Eurofoam joint venture has not yet been taken into account in the balance sheet. This should be approved by the antitrust authorities by the end of June.
For the full year, a full consolidation of Eurofoam would increase the Greiner Group’s sales by around EUR 200 million. (dm)
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