Flexible plastics multinational Nordenia has posted a 10% increase in turnover driven by higher material costs and strong growth in Eastern Europe and Asia Pacific

The business, which is based in Germany, has posted annual sales of €880.8m, up 9.9%, while adjusted EBITDA was €101.1m, its second-best profit figure ever.

Sales volumes, meanwhile, edged up 1.4% to 244,760 tonnes.

Nordenia International chairman and chief executive Ralph Landwehr (pictured) said: “In 2010 we saw above-average growth rates and thus the best result in our company history.

“We were unable to repeat these excellent 2010 figures in 2011. The adjusted EBITDA of €101.1 million means for the Nordenia Group the second best result in its history.”

The business reported plans to invest €35.6m annually in 2012 and 2013, notably on its sites in Gronau in Germany, Jackson in the US and Poznañ in Poland. It has also kicked off a cost-reduction and efficiency programme that, it said, would save “double-digit millions” in costs.

Asia-Pacific, with 21.9% sales growth in 2011, and 20.6% sales growth in Eastern Europe were the regions with the biggest growth. In Germany, meanwhile, which accounts for almost a third of Nordenia’s sales, revenue grew by 7%.

Nordenia also reported that its biggest end market was in hygiene products, accounting for €397.7m, where it notably products components for nappies.

Overall, FMCG made up moer than 90% of the group’s turnover