Year 2022 – An amazing, an amazing year for Paptic
The year 2022 was the best year ever for Paptic. The team has set our long term target to sustain the growth speed of doubling each year. Now already for four consecutive years we’ve grown close to tripling and reached at the end of 2022 a whopping revenue of over 11 million euros. This means that in the last two years from 2020 to 2022 we’ve grown close to 10x, despite the challenging short term market environment.
The global megatrend of sustainability is forcing brands to take action and it is driving our growth and pushing us forward. Consumers are more alert of the climate change and are willing to act responsibly for example by recycling. This means that brands are looking for more circular packaging, and more easily recyclable and renewable materials to reduce the use of fossil-based plastic.
Growth does not happen by itself, it needs, requires, and means investments. We’ve been fundraising in 2022 and we are successfully closing our next funding round of over 20 million euros in early 2023. Thanks to our clever business model based on partnerships, most of our past investments have been focused on sales, marketing, and innovation. To sustain our growth, now we need to also invest in new partnerships, sustainable and cost-efficient manufacturing processes and scale-up. Stay on the lookout for more news from us.
To improve the customer service level and material availability, we launched a partnership with Walki Group in September 2022. Walki and Paptic share a strong sustainability mindset, which served as the basis of the collaboration. Walki is a distributor and converter of Paptic materials and especially serving the flexible packaging markets, where we see the largest long-term potential for growth.
Last year we also published many interesting success cases, where our material was taken into use in new end-uses:
Fischertechnik launched a plastic-free toy packaging in spring 2022. Plastic bags inside the carton board box were replaced with pouches made of Paptic® enabling easy recyclability of all of the packaging materials.
Puukin tila, an onion farmer, chose Paptic® to replace plastics in onion pouches. Now the packaging is renewable and recyclable. This pouch was also awarded with a ScanStar in autumn 2022 and good news kept coming in beginning of 2023 when the packaging won the WorldStar award.
Active Brands, Scandinavia’s leading house of premium sports apparel and equipment brand, has a holistic approach to sustainability – including packaging. They’ve both optimized the size of the packaging and additionally the use of material. As a part of this development, they’ve chosen Paptic® for their e-commerce mailers.
Our most important asset, the Paptic team, plays the most important role in our growth and we keep investing in our people. At the end of 2022, our team was 35 people, growing by 10 during the year. The rapid growth requires talented implementers, and we are recruiting over 20 new Paptic employees this year. Please check www.paptic.com/careers for currently open jobs and more will be opened during the year.
We call 11MEUR revenue a great beginning, but next we aim to break the 100MEUR level in the coming years. We are scaling up our company, because we are obliged by the awareness that the world needs better packaging materials. That is our mission.
We are addressing climate change; we are addressing circularity by our great products because they respond to the need of the market.
In the end, we want to grow the impact we are creating in the world. Thank you everyone for being involved in our growth and looking forward for the possibilities and opportunities of 2023!