Moravia Cans has presented its income statement for the past year 2023 and continues to lead the market.
The result is cans that are lighter in weight than their competitors. In addition, the Company’s DWI products have a much higher recycled content, and in particular a closed-cycle post-consumer recycled (“PCR”) content, than any other competitive offering. The Company has significantly increased the proportion of PCR content in its MC2 ingots. Moravia Cans currently has the lightest cans on the market, with the highest PCR content. This position has been achieved while enhancing the company’s market-leading decorating and forming capabilities, supported by state-of-the-art quality systems and processes. They are products that fully support the best brand recognition and allow the highest protection against counterfeiting.
The Czech company shows a positive and higher balance sheet with respect to 2022, despite the economic, market and operational effects following the COVID-19 pandemic and as a result of the Russian invasion of Ukraine. During 2023, the GDP of the markets served by the Company continued to recover from the adverse effects of the aforementioned geopolitical events. Significant inflation in the costs of energy, raw materials and many other products and services experienced in 2022 turned into partial deflation in 2023. The Company had progressively recovered input cost increases in package prices in 2022 to restore margins. This process continued throughout 2023, with further margin recovery required in 2024.
The Company’s average number of employees increased by 1.2% to a level of 425 (2022; 420). The average number of full-time equivalents (being the number of employees, adjusted for long-term illness, plus external contractors) increased by 3.7% to 422 (2022; 407). The Company has improved the leadership and capabilities of its HR department. along with improvements in its HR marketing. The Company has experienced few difficulties with recruiting new personnel or retaining existing personnel.
The Company has increased its investment in training. There is a particular focus on onboarding new employees to provide a comprehensive view of the business, its key products and processes, and particularly the Vision Zero Safety approach. Language training is also a key requirement for the Company, which has almost 100% of its business partners located outside the Czech Republic.
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