Annual and Sustainability Report 2021

A trusted sustainability leader in our industry in 2030

Agenda in 2030 – a crucial decade

Employees make the strategy take off

“Our overall goal is to lead our industry towards circular solutions with net zero carbon footprint.”

Q1

  • Robert Dackeskog takes over as President and CEO.
  • Erik Lindroth joins as new Sustainability Director.
  • Duni Group is named one of the most attractive employers in Sweden by the Karriärföretagen organization.
  • The two brand segments form two business areas – Duni and BioPak – with responsibility for the whole value chain.

Q2

  • Through its own innovation and collaboration with OrganoClick AB, the Duni business area is launching fossil-free premium napkins and placemats.
  • The first fiber-based outer packaging for napkins is launched.
  • BioPak launches Compost Connect, a unique, non-branded and non-profit initiative to reduce the amount of organic waste going to landfill.

Q3

  • The paper mill in Skåpafors is the first in the world to use fossil-free biogas in its production.
  • A collaboration is launched with the Swedish &Repeat company to contribute to the development of circular solutions for take-away packaging.
  • An investment in the German Relevo GmbH, a company with a focus on reusable take-away systems, is completed.

Q4

  • An investment in the Spanish recycling company Bûmerang is made.
  • The Group is awarded an EcoVadis Gold Medal for its sustainability performance in 2021, ranking it in the top 5% of companies in the paper and board industry.
  • We subscribe to the UN Global Compact and are committed to working on environmental and social sustainabilityissues.
  • An updated strategy with a new vision, purpose and values is presented.

KEY FINANCIALS, SEK m

2021 2020 2019 2018 2017
2021 2020 2019 2018 2017
Net sales Nettoomsättning 5,061 4,501 5,547 4,927 4,441
Operating income* Operativt resultat* 279 149 533 430 491
Operating margin* Operativ rörelsemarginal* 5.50 % 3.30 % 9.60 % 8.70 % 11.10 %
Operating EBITDA* Operativt EBITDA* 487 374 762 583 630
EBIT Rörelseresultat, EBIT 173 70 408 351 456
EBITDA EBITDA 476 359 759 546 629
Net income before tax Resultat före skatt 133 7 377 328 439
Net income for the year Årets resultat 77 4 273 249 334
Proposed dividend, SEK/Share Föreslagen utdelning SEK/Aktie 0 0 0 5 5
Equity Eget kapital 2,714 2,628 2,664 2,616 2,594
Return on equity, % Avkastning på eget kapital, % 2.80 % 0.10 % 10.30 % 9.50 % 12.90 %
Return on capital employed, % Avkastning på sysselsatt kapital, % 7.10 % 3.90 % 12.90 % 10.60 % 14.40 %
Number of employees Antal anställda 2,214 2,269 2,398 2,477 2,362
* EBIT and EBITDA are adjusted for non-recurring items.

Net sales and operating income, SEK m

Two business areas – two brands

The business is divided into two business areas: Duni and BioPak. Each business area has full responsibility for its respective value chain. Products are sold through a joint sales force, with the regions supporting the business areas. Duni and BioPak are responsible for their respective brand strategies as well as their own marketing communications, product development and innovation.

Production units
Sales offices

2,214

The Group has 2,214 employees in 22 countries. The head office is located in Malmö. Tissue for napkins and table covers is manufactured in Sweden, while conversion to finished products takes place in Germany, Poland, Thailand and New Zealand.

Sales offices are located in Australia, Austria, Czech Republic, Finland, France, Germany, Netherlands, New Zealand, Poland, Russia, Singapore, Spain, Sweden, Switzerland, Thailand, United Arab Emirates, United Kingdom and the United States.

Net sales per business area, %
Net sales per geographic region, %

The Duni brand stands for design, color, shape, and high quality that create a pleasant atmosphere on every meal occasion. The products and services should add value wherever people cook, serve and enjoy food and drink. Environmental sustainability is a given.

The Duni business area stands for long-standing experience and cutting-edge expertise in wood fiber-based solutions. The Duni business area has a vertically integrated business model for its paper-based products such as napkins and table covers. This means that the entire production and delivery chain is owned and controlled by the Group, from material manufacture and concept development to conversion and distribution.

The BioPak brand was created by the idealists of Australian company BioPak Pty Ltd, which has been a part of the Duni Group since 2018. The brand was launched in Europe in 2020 with an aim to be the hands-down best choice for environmentally sound meal packaging. BioPak is synonymous with sustainability and works on both products and circular solutions. The brand stands for cutting-edge expertise as well as transparency and authenticity. Products with the BioPak brand are eco-profiled meal packaging made of renewable plant-based raw materials or recycled materials.

The BioPak business area has no production of its own, which makes the purchasing organization a large and important part of the business.

Corporate Governance Report 2021

Director’s Report 2021