During the 2019 financial year, Greiner was able to continue on its growth course in a problematic market environment. Indeed, in the face of a progressive economic slowdown, product and market diversification, a global orientation and innovation-driven sustainable action again demonstrated their value. As compared to the previous year, Greiner managed to increase its consolidated sales revenues by 3 percent to EUR 1.675 billion (2018: EUR 1.631 billion) and at EUR 144 million, cash flow was also 13 percent higher than in the preceding year (2018: EUR 128 million). All of the investments made in the 2019 financial year were once more financed from cash flow. During the year Greiner spent EUR 99 million on tangible assets (2018: EUR 108 million) and was active worldwide with 10,745 employees at 140 locations in 34 countries. On the 31 December 2019 reporting date, Greiner had workforces of 2,543 in Austria, 6,251 in the remainder of Europe, 775 in Asia, 821 in North America, 219 in South America and 136 in the rest of the world.
Apart from the opening of the Greiner Campus extension to group headquarters, the other central features of the past financial year were the foundation of the INNOVENTURES corporate incubator and the further advancement of sustainability activities, which included the publication of an initial Sustainability Report. CEO Axel Kühner, “The opening of the modern Greiner Campus office and training center has created the spatial basis for continuous expansion at our headquarters location in Kremsmünster. In addition, with our intensive focus upon sustainability and the publication of our first Sustainability Report, which defines measurable sustainability targets for the period up to 2030, we have assumed group-wide responsibility. We are convinced that only companies demonstrating sustainability will also enjoy economic success in the years to come.”
In a reference to the launch of Greiner’s INNOVENTURES corporate incubator, which has the task of developing scalable business models and the foundation of separate companies within twelve months, CFO Hannes Moser adds, “Innovation is an ongoing process and apart from diversification and globalization it constitutes one of our three strategic cornerstones. Furthermore, it provides the basis for earnings-oriented growth. With the start of the INNOVENTURES corporate incubator, we have provided the prerequisites for innovations that do not relate directly to Greiner core activities, as well as the creation of new business areas.”
"We are convinced that only companies demonstrating sustainability will also enjoy economic success in the years to come."