Swiss packaging giant Tetra Pak (Lausanne; www.tetrapak.com) saw its revenues increase by 7.5% year-on-year to EUR 11.9 bn in 2015. Positive currency impacts accounted for 6.3% of the increase, but the company also reported solid growth in both services and processing solutions businesses, while its packaging sales advanced at a more modest rate. Earnings figures were not disclosed.

Tetra Pak president and CEO Dennis Jönsson said: “Despite slowdowns in our top two markets – China and Brazil – and significant hits to sales arising from the political and economic events in other countries, we continued to grow in both processing and packaging in 2015. It was a tremendous achievement, reflecting the strength of our strategy, the commitment of our workforce and the continued support of our customers.”

Revenues in the company’s packaging solutions business came to EUR 10.1 bn in 2015, a year-on-year rise of 6.4%, with strong growth in technical services. Despite continued challenges in the global economy, sales of packaging materials were slightly higher, with 184 bn packs sold in 2015 compared with 180 bn in 2014.

The company said it had been able to meet shifting demand in recent years from food and beverage companies that have been seeking ways to differentiate their products from those of their competitors by introducing new shapes, materials and enhanced functionality. Almost 40% of packages delivered during 2015 were from its range of advanced formats, an increase of 27 percentage points since 2010, it said.

The processing solutions business saw revenues reach a record EUR 1.7 bn in 2015. Processing technical sales and service revenue was particularly strong, with a 17% increase compared with 2014. Services revenues, which combine packaging and processing solutions, reached EUR 1.2 bn in 2015, with strong growth in production line upgrades, consumables such as lubricants and adhesives that are used in production, and expert services, which are directed at improving operational performance.

Looking forward, Jönsson said: “This year marks the half-way point in our 2020 strategy. Since we started that strategy five years ago, we have become leaner and more productive, with a stronger and broader product portfolio and a sharper focus on customer value, giving us a good platform from which to build. In the future, we believe that we can continue growing our business by driving efficiency, staying focussed on product and service innovation, and putting customers at the centre of everything we do.”