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People

Engaging blue-collar talent

We made substantial investments in our frontline employees in 2024. Our Frontline Management Program and brand-new Blue-Collar Development Program provided entry-level laborers with pathways for career advancement. We are now cultivating a new generation of managers who will truly understand the challenges of frontline work.

Living legacy

In 2024, Prinzhorn Group’s Management Board welcomed a new member, Gerald Prinzhorn, as the group’s CEO. As the name would suggest, Mr. Prinzhorn brings a vision shaped by six generations into the boardroom. He, along with the whole Board, is committed to sustaining Prinzhorn Group for the next 170 years – and beyond.

Hardship fund

Prinzhorn Group’s values don’t call for us to pay people when they perform, only to walk away from them when they’re in trouble. To the contrary – if we grow with our employees, we also want to stand by them in times of need. Over the past two years, we did so through our Hardship Fund, which paid out 400,000 EUR to Prinzhorn Group team members and their families.

Performance

EBITDA record for Recycling

This was a special year for Prinzhorn Group’s recycling division. In 2024, every business unit of Hamburger Recycling was EBITDA-positive. This could not have been achieved without very close collaboration between shop floor, management, and administrative teams. When viewed in the context of strong market headwinds, it is a remarkable feat.

Italian integration

Our administrative teams successfully integrated our Italian acquisition from 2023. They worked tirelessly to align our systems and enhance governance. For instance, they transitioned our Italian operation from month-by-month pay to full salary, providing our employees with greater security and increasing the transparency of our business.

Resilient foundation

Prinzhorn Group has emerged from two years of recession and geopolitical uncertainty in exceptionally strong financial shape. We continue to seek opportunities for strategic growth. At a time when many businesses in the fiber-based packaging sector are contracting, we have a relatively low debt burden and a progressive outlook. Our ability to close the loop with our circular business model is the key to our continued resilience.

Responsibility

Enhancing compliance

An additional group-wide compliance organization debuted in 2024 and quickly made an immediate impact on day-to-day operations. Our compliance team delivered robust code-of-conduct training, promoted the whistleblower hotline, and strove to maintain the highest standards of legality, ethics, and integrity.

Regulatory modernization

In 2024, we ensured that Prinzhorn Group will not have to rush to be compliant with European CSRD and ESRS reporting requirements. Our collaborative, cross-divisional team built a firm foundation that will enable streamlined reporting for years to come. Now we can move with confidence.

Comprehensive decarbonization

This year, we aligned our roadmap with the Science Based Targets initiative (SBTi) to ensure a systematic approach to decarbonization – a key lever in limiting global warming. With our Scope 1, 2, and 3 emissions inventory in hand, we made targeted investments in efficient power generation and continuous improvements to secure most of our decarbonization goals through 2035.