Coesia: new acquisition and 2017 results

Coesia to acquire digital printing business of Atlantic Zeiser

Coesia announces today that it has signed an agreement with Orell Füssli for the partial acquisition of Atlantic Zeiser’s digital printing business, focused on in-line digital printing for pharma, packaging and credit card personalization systems, as well as the majority shareholding stake of Tritron, producing special inks for industrial digital printing.

The closing of the acquisition will be subject to customary conditions.

Atlantic Zeiser and Tritron are expected to generate revenues of approximately EUR 40 million in 2018 and are headquartered in Emmingen and Battenberg, Germany, respectively.

In the context of the transaction, Orell Füssli will retain the Atlantic Zeiser activities focused on banknote and security printing. Orell Füssli, listed on the Swiss stock exchange and generating CHF 300 million revenues, is a diversified industrial and trading group engaged in the core businesses of banknote and security printing, the personalization of security documents and branded products, and book retailing.

“The acquisition of Atlantic Zeiser’s digital printing business and Tritron represents a pivotal step for Coesia in consolidating its presence in digital printing solutions, focused both on in-line and near-line printing. Through the cooperation between Hapa, a Coesia company, established leader in digital printing systems for Pharma, and Atlantic Zeiser, also active in FMCG digital printing applications, Coesia aims at the creation of a dedicated and innovative digital printing platform which will strengthen its position within the fast-growing market for product customization” said Angelos Papadimitriou, Coesia Group Chief Executive Officer.

On April 24th, 2018 the Board of Directors of Coesia approved the 2017 financial statements.

The results achieved by the Coesia Group during 2017 were overall higher compared to 2016, confirming the trend of constant growth recorded in the last years. This growth has led to a consolidated revenue of 1,586 million Euro (+9% vs 1,457 million Euro in 2016) and about 7,100 employees worldwide.

Revenue distribution is geographically balanced with the EU accounting for 37% (7% in Italy), North America 18% and Asia 26%.

The Group’s net income of 140.2 million Euro (+9% vs 128.7 million Euro in 2016) considers also the effects of continuous investments in Engineering and R&D activities, amounting to 117.1 million Euro or 7.4% of 2017 revenues, a significant 13.2% increase compared to 2016.

EBITDA is 287.4 million Euro (255 million Euro in 2016). EBIT amounts to 235.8 million Euro (206.6 million Euro in 2016).

In 2017 the Group acquired the UK based Molins and Cerulean businesses to further strengthen its leadership in the tobacco market. Moreover, Coesia acquired MGS Machine Corporation, a US company operating in the supply of automated packaging machinery and equipment for the pharmaceutical and life science, food, personal care and cosmetics sectors, thereby additionally strengthening its leadership in the North American automated machinery market.

“In addition to the positive financial results, in 2017 Coesia has further strengthened its innovation capabilities with special focus on Digital as well as on industries and geographic areas of great strategic relevance for the future” said Angelos Papadimitriou, Coesia Group Chief Executive Officer.

The Group is present in 32 countries with 60 production facilities in 99 operating units.

Coesia is a group of innovation-based industrial and packaging solutions companies operating globally, headquartered in Bologna, Italy, fully owned by Isabella Seràgnoli.