The Oldenburg-based chemical company BÜFA can report positive sales results for fiscal 2022 despite challenging economic conditions. Overall, BÜFA was not quite able to match the very good results of the previous year. However, the family-owned company remains securely positioned thanks to its diverse portfolio. In view of inflation, high energy costs and rising raw material prices in 2022, the group of companies is currently resuming the business development of 2019 after two years with strong special effects.
Consolidated group sales of the BÜFA Group increased from EUR 343 million to EUR 404 million compared to 2021. Business in 2022 was very price-driven in almost all business areas. This also essentially led to the increase in sales of around 18 percent. In the course of the year, demand was adjusted due to the effects of the economic situation, which also led to a decline in volumes in the affected markets. Sales volumes fell by around 10 percent to 225 thousand tons in the past fiscal year. "Ordinary earnings before interest and taxes (EBIT) were maintained at a good level overall. At the same time, BÜFA continues to be very solidly financed. The equity ratio at Group level is around 50 percent of total assets," explains Ralf Ramke, Chief Financial Officer (CFO) of the BÜFA Group.
"Thanks to our broad product and service portfolio, we were very successful in some areas in the second quarter, even in a difficult economic environment and despite the onset of the overall economic slowdown," explains Felix Thalmann, Chairman and CEO of the BÜFA Group. Both the trading business with chemicals and the composites division were able to achieve good results. "In all business areas, the international distributions were able to make a positive contribution to the overall result," adds Ralf Ramke.
Over the past two years, the BÜFA Group has consistently expanded its product range and service network in Europe through acquisitions and strategic partnerships. Since the beginning of this year, the Composites Business Area has also been represented with a distribution operation in Austria through the purchase of the composites division of Joh. Klinglhuber & Söhne Handelsgesellschaft. The new location in Vienna is intended to expand business activities both in Austria and in the Southeastern European region. In addition, the Dutch company TriStar was acquired in 2022 and now operates under the name BÜFA Cleaning Netherlands. Here, too, the aim of the takeover is to open up new markets in Europe in addition to expanding the product portfolio. But it is not to stop there: "We are in talks with our partner MacSerien in Scandinavia about expanding the cooperation even further. In this way, we are expanding our expertise in various areas and are positioning ourselves for the future," explains Thalmann.
BÜFA consistently drives sustainable development forward
In the current stagnating and in some cases difficult economic situation, BÜFA continues to keep a firm eye on the issue of sustainability at all levels. In its activities, the Group is guided by the 17 Sustainable Development Goals (SDGs) . These goals formulated by the United Nations are intended to serve governments, companies and other institutions as a guide for holistic sustainable development that encompasses all areas of life. Ecological, social and economic sustainability are interdependent and must be considered in all areas of activity.
In the area of chemicals trading, the Oldenburg-based family business is starting to offer its customers comprehensive data on the Product Carbon Footprint (PCF). The CO₂ footprint makes the emissions caused by products in their life cycle transparent. The data provide important pointers on how the impact of greenhouse gas emissions in the value chain can be reduced or avoided.
The recycled containers project at BÜFA Cleaning is all about a sustainable circular economy. From now on, cleaning agents and detergents will be filled in environmentally friendly, UN-approved canisters. Thanks to their certification, they are approved for the transport of numerous hazardous goods, setting new standards in the industry.
On its way to greater sustainability at all levels, BÜFA is relying on both internal and external impetus. For example, BÜFA has called on EcoVadis, the world's largest provider of sustainability assessments, to examine the extent to which the principles of sustainability are embedded in its business activities. The assessment focuses on the four topics of environment, labor and human rights, ethics and sustainable procurement. In the business area of chemicals trading, BÜFA has already received gold status in the first rating in 2022. Currently, BÜFA is in the rerating process for 2023 in the chemicals sector. In addition, the Oldenburg-based company is aiming for a rating of the entire BÜFA Group this year. "Transparency is the key to holistic sustainability for us. Internal expertise, external feedback and open communication are essential for us in the sustainable transformation," Felix Thalmann summarizes.