(AOF) – Gascogne achieved a consolidated net profit of 12.9 million euros in 2021, compared to 8.3 million in 2020. The packaging specialist also maintained its EBITDA at 32.1 million euros, demonstrating the strength of its business model. The profitability of the Wood Division and of the transformation activities of the Packaging Division (Bags Activity and Flexible Activity) improved significantly, offsetting the sharp decline in the Paper Activity, due to the sharp rise in electricity costs in the 4 last months.
Turnover increased by 11.2% to 398.9 million euros. The group has thus regained a level of activity comparable to that of before the health crisis. The turnover of the Packaging Division (90% of consolidated turnover) is up by 11%, that of the Wood Division by 12.3%.
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China becomes the leading consumer of French cosmetics
Exports of the French cosmetics sector fell by 11.8%, to 15.7 billion euros in 2020. The health crisis has disrupted production and logistics in the sector, which nevertheless retains its position as the second largest contributor to the positive foreign trade balance. France also maintains its position as world leader in the sector (24% market share).
In a movement similar to that of the luxury industry, China has become the leading market, ahead of Germany and the United States. In 2020, exports to this country jumped by 20.7%, while they fell by 15% to the United States and by 24% to Germany. According to the Federation of Beauty Companies, China is by far the leading buyer of French lipstick, with more than one in four lipsticks exported.