Packaging Industry ‘Susceptible, But Not Immune’ To COVID-19 Disruptions: Moody’s
A new report by Moody’s has found that the packaging sector in Europe by and large has had low exposure to the COVID-19 pandemic, although some companies are more vulnerable than others.
According to the report, most the the aggregate revenue of the 15 European non-paper packaging companies that are rated by Moody’s is generated from the food, beverage and pharmaceutical end markets, which are ‘demonstrating resilience’ in the current pandemic situation.
However, it said that companies that produce packaging for the cosmetics industry or other ‘heavily-affected’ sectors, such as hospitality and travel, could ‘experience significant volume declines’ in these segments, while the prospect of a global recession could also weigh on these sectors.
Overall, Moody’s said that it expects a 5% decline in the aggregate EBITDA for the sector in 2020, but is expecting a ‘rebound’ next year.
ESM
Related news
It’s not size that matters, it’s partnership: at Dunapack, even small customers receive great attention
Interview with Zoltán Szőnyi, Sales Director at Dunapack Packaging While…
Read more >Sustainable growth: global corrugated board market could rise to over $206 billion by 2032
The packaging industry is on the verge of a breakthrough:…
Read more >PM: Moody’s continues to recommend Hungary for investment
Moody’s continues to recommend Hungary for investment, but due to…
Read more >Related news
The Farmer Expo will be held again in Debrecen
The Farmer-Expo International Agricultural and Food Industry Exhibition will be…
Read more >STRAND Festival K&H Balaton Main Stage features local and international stars
This summer Zamárdi will once again be filled with music,…
Read more >Winners of the Symbol of Sustainability 2025 Announced
For the sixth time, Trade Magazin has launched the Symbol…
Read more >