Schur International Holding A/S

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Rang Årets resultat

Rang i branche

54/457

"Top 35%"

Rang i Danmark

1.460/352.953

"Top 10%"

Direktion top 3

Hans Christian Schur 10	CEO
Johan Sebastian Schur 12	Direktør

Bestyrelse top 3

Søren Birn 30	Bestyrelsesformand
Hans Wilhelm Schur 13	Bestyrelsesmedlem
Anna Katharina Schur 10	Bestyrelsesmedlem

Legale ejere top 3

33.33-49.99%	Konsul Axel Schur og Hustrus Fond	DK
20-24.99%	Anna Katharina Schur	DK
20-24.99%	Hans Christian Schur	DK

Tegningsregler

Selskabet tegnes af bestyrelsens formand alene eller af tre medlemmer af bestyrelsen i forening eller af en direktør alene.

Stamoplysninger baseret på CVR

Navn	Schur International Holding A/S
Binavne	Bertha Holding A/S, Brdr. Schur Holding A/S, Brdr. Schur International A/S, Brdr. Schur København A/S, Schur Carton A/S, Schur Emballage A/S, Schur Engros A/S, Schur Group International A/S, Schur Gruppen A/S, Danmark, Schur Gruppen A/S, Horsens, Schur Holding A/S, Schur Im- og Export A/S, Schur Koncernen A/S, Schur København A/S, Schur Machinery A/S, Schur Maskiner A/S, Schur Pack Europe A/S, Schur Packaging Systems A/S, Schur Service A/S, Schur System A/S, Schur Trading A/S, Schur-Pack International A/S, The Schur International Group A/S, The Schur Packaging Group A/S, Schur International Holding A/S Vis mere
CVR	83100028
Adresse	J W Schurs Vej 1, 8700 Horsens
Branche	Ikke-finansielle hovedsæders aktiviteter [701010]
Etableret	01-11-1977 (47 år)
Virksomhedsform	Aktieselskab
Antal ansatte	1 (årsværk:0)
Reklamebeskyttelse	Ja
Revisor	Ey Godkendt Revisionspartnerselskab siden 07-03-2013
Regnskabsperiode	01-11 til 31-10
Selskabskapital	31.500.000 DKK 32.797.862 DKK (03-06-2021 - 18-07-2021) 35.000.000 DKK (30-08-1987 - 02-06-2021) Vis mere
Vedtægter seneste	14-10-2022

Medlem af brancherne

Ikke-finansielle hovedsæders aktiviteter [701010]
NACE6 indeholdende 532 virk.
Hovedsæders aktiviteter [701]
NACE3 indeholdende 800 virk.
Hovedsæders aktiviteter og virksomhedsrådgivning [70]
NACE2 indeholdende 26.969 virk.
Liberale, videnskabelige og tekniske aktiviteter [N]
NACE1 indeholdende 88.303 virk.

Formål

Selskabets formål er direkte eller gennem datter- selskaber at drive virksomhed ved fabrikation og handel fortrinsvis indenfor emballagesektoren

Regnskab

	2024	2023	2022
Valuta/enhed	000' DKK	000' DKK	000' DKK
Omsætning	- -	- -	- -
Bruttofortjeneste	-101.863 -	-93.963 -	-85.220 -
Årets resultat	109.629 -21%	138.399 +10%	125.531 -6%
Egenkapital	1.710.402 +6%	1.618.726 +7%	1.507.844 +8%
Balance	1.849.003 0%	1.853.228 +9%	1.707.823 +8%

Ledelsesberetning sammendrag

Ledelsesberetning

Management’s review

Beskrivelse af virksomhedens væsentligste aktiviteter

Company presentation

Schur’s activities

Schur is the world’s oldest packaging group run by the same family. Our goal has always been, to develop the packaging solutions of the future, together with our customers. We operate globally, and our main activities are carton packaging, flexible packaging, packaging, and automation technology, and marking & labels.

In all our activities, we aim to set the bar for packaging innovation and creativity, and we push ourselves to be ‘Leader Of The Pack’. We are an end-to-end supplier in packaging solutions with all our subsidiaries collaborating using their competencies across our production sites and technologies. The products of the folding carton companies are mainly sold in Northern Europe and the USA, whereas the flexible packaging companies and machinery company sell their products worldwide.

Beskrivelse af udviklingen i virksomhedens aktiviteter og økonomiske forhold

Key events in 2023/24

This financial year has been marked by a drop in volumes and sales prices. In total our revenue has decreased with DKK 170 million (8.1%).

Volumes & price decreases

In 2022/23 we saw a drop in volume compared to our all-time high in 2021/22. We have seen the trend continue into 2023/24.

Several of our customers are experiencing decreasing demand from their end-users.

For Schur the long-term relationship with our customers is essential. When our customers experience hard times and drop in sales this will affect our revenue and sales prices as well.

Machinery & automation

Our machinery business has faced a challenging year due to reduced activity among our customers and relatively high interest rates, which have dampened capital investments.

The industry has experienced several bankruptcies this year, but thanks to a fundamentally healthy business and a solid financial position, our machinery business is still strong.

Despite difficult times, we still see great potential in the sale of automation solutions. This will continue to be a key business area for us. In the autumn of 2024, we founded Schur Automation Sweden AB initially with a focus on print and marking technologies, but in the longer term with complete automation solutions on offer.

Investments in new printing presses, solar panels and ERP

This year we have invested significantly in solar panels in our factories so that our production companies will be covering a substantial part of their energy demand through renewable resources. At our factories in Australia and Germany we have invested in new sustainable and energy efficient printing technologies. We have started producing on our new printing press in Australia which has electrical heating instead of gas heating. In Germany we have ordered 2 new printing presses where the drying unit runs on excess heat from shredded pallets. In both investments we expect substantial CO2 reductions.

In September 2024 the first production company in the group went live using our newly developed D365FO ERP system. Despite initial difficulties in connection with go-live, we had a positive start and are now looking forward to implementing the system in the rest of the group.

Continuous investment in the group's production facilities will always be key for us to be able to deliver the best service to our customers in an efficient and competitive way. Our digital focus is a key foundation in our continued growth and development.

Sustainability focus

This year we have performed our first Double Materiality Assessment (DMA) and our sustainability strategy, which we have already started activating in concrete goals and initiatives. This will continue over the coming years.

We see an increasing interest from our customers for dialogue regarding sharing of sustainability data and progress towards ambitious sustainability targets. We welcome this trend in the value chain. We expect this focus from our customers to increase together with higher demands for data and ambitious targets throughout our own supply chain. In our role as first choice advisor and business partner for our customers we are ready for these changes in the way we work together with our customers.

Financial performance 2023/24

1,938 DKK million net revenue

153 DKK million profit before tax

In our recent annual report, we forecasted revenue to be between DKK 2.0 and 2.2 billion and a profit before tax between DKK 140 million and DKK 160 million.

We did not reach the expectations on the revenue. Revenue decreased by DKK 170 million (8.1%). The lower revenue than expected concerns all our business areas and is driven by both lower volumes and price reductions.

With a profit before tax of DKK 153 million we meet the profit expectations. The profit was however, DKK 38 million lower than last year.

The main reasons for the lower ordinary profit is the lower contribution margin caused by lower sales and higher staff costs. Last year we had a high gain on fixed asset which did not occur this year. Finally our investment in associated companies and portfolio investments have contributed with a higher income than last year.

Given the challenges with the drop in sales volumes and sales prices, we consider the result for 2023/24 as satisfactory.

117 DKK million net interest bearing debt

0.46 leverage ratio

Our interest bearing debt increased from DKK 105 million to DKK 117 million.

Investments in tangible and intangible assets of DKK 173 million was paid by the free cash flow without increasing the long-term debt.

We have kept the working capital at the same level as last year, but because of the decreased revenue, the working capital ratio went up from 20% to 21%.

Leverage ratio (net interest-bearing debt/adjusted EBITDA) has increased from 0.35 to 0.46 – which is still at a very low level.

Omtale af betydningsfulde hændelser, som er indtruffet efter regnskabsårets afslutning

Events after the end of the financial year

After the end of the financial year, Schur Star Systems Australia Pty. Ltd. acquired the activities of Minpac Australia Pty. Ltd. and Min-X Australia Pty. Ltd. with closing date December 1st 2024.

This acquisition combines Schur’s extensive global footprint and expertise in packaging solutions with Minpac & Min-X’s specialized knowledge in flexible barrier film packaging solutions and we are thereby well placed to strengthen our market position in Australia.

Beskrivelse af virksomhedens forventede udvikling

Outlook 2024/25

Packaging is very much in focus these days. Many initiatives have been started in order to change consumer behaviour (sorting at source) and new products are being introduced with the goal to increase recycling and reduce environmental impact. We constantly aim to develop new solutions, which can help reduce food waste and increase the extent of recycling, and we seek to lead the industry with our contribution to a circular economy.

The market situation for the West European carton market is estimated to show an increase in demand in the long term primarily due to the industry being geared towards recyclability. In the short term though, we still expect to see a minor decrease in demand as a result of a contiuned slow economy in Europe going in to 2025.

Schur is committed to setting the stage for the most modern production and logistics technology in the industry and has in recent years invested heavily in product development and state-of-the-art production technology. We will continue to invest in new production equipment with expected investments between DKK 130 million and DKK 150 million next year alone. We strive to be a total solution supplier for our customers and therefore see our internal developments across the companies in our group, as a vital part of our continuous aim to be Leader of the Pack.

We depend on our customers’ sales and product development, and we are pleased to contribute with an innovative approach while creating new sustainable solutions in close collaboration with our customers.

With the EU's packaging regulation beeing implemented these years, there will be new challanges, but also opportunities for the packaging industry. We will aim to create value from these opportunities and take our group of companies to the next level as an innovative total soloution supplier of packaging.

In 2024/25, we expect a revenue between DKK 1.9 - 2.1 billion and a profit before tax between DKK 140 million and DKK 160 million.

Generalforsamlingsdato: 25-04-2025