Q3 2015 in brief • Net sales grew to EUR 692 million (EUR 563 million) • EBIT improved to EUR 62 million (EUR 40 million) • EPS improved to EUR 0.43 (EUR 0.26) • Comparable net sales growth was 6% in total and 7% in emerging markets • Currency movements had a positive impact of EUR 40 million on the Group's net sales, and EUR 3 million on EBIT • Free cash flow improved to EUR 27 million (EUR 15 million) despite the negative impact from the fine of EUR 15.6 million paid to the European Commission Q1-Q3 2015 in brief • Net sales were EUR 2,036 million (EUR 1,655 million) • EBIT excluding NRI was EUR 182 million (EUR 130 million) • EPS excluding NRI was EUR 1.27 (EUR 0.85) • Comparable net sales growth was 4% in total and 6% in emerging markets
UPM is to start field tests of its novel wood-based diesel fuel in urban buses together with Helsinki Region Transport (HSL) and the VTT Technical Research Centre. The field tests are also supported by St1, Volvo and Transdev Finland. The new round of tests with UPM BioVerno fuel will start in October and run for a minimum of one year. UPM BioVerno diesel has previously been studied in several engine and vehicle tests conducted by various research centres as well as in fleet tests, all with excellent results. The studies have shown that UPM BioVerno works exactly like the best quality diesel fuels and reduces tail pipe emissions significantly compared to fossil diesel.
• Third quarter adjusted diluted EPS from continuing operations increased to $0.67 per share, up 9.8 percent compared to the prior third quarter. • Gross profit margins improved 170 basis points to 21.8 percent of net sales in the third quarter, compared to 20.1 percent in the prior third quarter. • U.S. Packaging segment operating profit return on sales increased to 14.5 percent, compared to 13.3 percent in the prior third quarter. • Global Packaging segment adjusted operating profit return on sales increased to 9.7 percent, compared to 8.6 percent in the prior third quarter. • Adjusted return on invested capital increased to 10.3 percent at September 30, 2015, compared to 9.6 percent at September 30, 2014.
For the quarter, total revenue increased 4.6% to $926.5 million; Retail store revenue increased 6.5% to $637.8 million; Direct revenue decreased 7.9% to $161.6 million; and Financial Services revenue increased 13.3% to $123.6 million. During the period, consolidated comparable store sales decreased 4.2%. For the quarter, adjusted for certain items, net income decreased 13.8% to $50.3 million compared to $58.3 million in the year ago quarter, and earnings per diluted share were $0.71 compared to $0.81 in the year ago quarter. The Company reported GAAP net income of $43.7 million and earnings per diluted share of $0.62 as compared to GAAP net income of $53.8 million and earnings per diluted share of $0.75 in the year ago quarter.
R. R. Donnelley & Sons Company (Nasdaq:RRD) today announced a further enhancement of the company's Venue® virtual data room solution to provide clients seamless access to top-of-the-line automated contract review and diligence acceleration software. Venue contract analytics provides deal teams increased speed and accuracy while securely accessing and reviewing contracts directly from a Venue virtual data room. Venue virtual data room is one of the fastest-growing offerings of RR Donnelley's comprehensive Financial Services Group and is used by legal and financial services professionals to accelerate and streamline business processes related to M&A due diligence, IPOs, Securities and Exchange Commission filings and fundraising activities. Venue virtual data room is a highly secure, globally accessible online platform for the exchange and storage of critical information inside and outside of an enterprise, in order to streamline collaboration and workflow management.
For its actions to improve water security and better manage this shared resource, Metsä Board, one of Europe’s leading suppliers of paperboard, has been awarded with a position on CDP’s Water A List. This list features companies that are seen as being on the path to sustainably managing water. It has been produced at the request of 617 investors with USD 63 trillion in assets by CDP, the global NGO which holds the most comprehensive dataset of publicly available corporate water information collected on behalf of investors. Information provided by 405 listed companies has been independently assessed against CDP’s scoring methodology – developed in collaboration with leading peers and experts in corporate water stewardship – and ranked accordingly. Metsä Board is one of eight awarded an A grade for its water management efforts, earning a position on this exclusive global list of corporate leaders.
•Third quarter 2015 GAAP earnings per diluted share were $.43, compared with $.65 in 2014. •Third quarter 2015 GAAP results include $.12 per diluted share, after tax, of foreign exchange related asset impairment charges related to its operations in Venezuela; $.06 per diluted share, after-tax, in asset impairment and restructuring charges; in addition to $.05 per diluted share, after tax, in legal and financial professional expenses associated with the above mentioned financial misstatements at the Irapuato packaging center. Third quarter 2014 GAAP results included after-tax charges of $.04 per diluted share related to restructuring activities and acquisition costs. •Base net income attributable to Sonoco (base earnings) for third quarter 2015 was $.65 per diluted share, compared with $.69 in 2014. (See base earnings definition and reconciliation later in this release.) Base earnings in the 2014 quarter benefited from the settlement of a lawsuit which added approximately $.03 per diluted share, after tax. Sonoco previously provided third quarter base earnings guidance of $.65 to $.70 per diluted share. •Third quarter 2015 net sales declined approximately 2 percent to $1.24 billion.
A New York State start-up company is the first in the U.S. to offer this square-shaped ‘carton bottle’—which has many of the environmental benefits of paper with the functionality of a traditional plastic bottle. The bold blue-and-white graphics say that the contents are “JUST WATER”, but these new containers from Tetra Pak are not merely the same old bottles. As reported in Healthcare Packaging Magazine, Glens Falls, N.Y.-based JUST will be the first company in the U.S. to use Tetra Pak’s Tetra Top paper-based “carton bottle.” The carton’s squared-off body is made from 53% paper, with a bottle top made of high-density polyethylene, and an HDPE cap supplied by Tetra Pak (Novembal).
Third Quarter 2015 Highlights • Net income per share of $1.16 • Adjusted net income per share of $1.26 • Metal container volume growth of 8 percent • Footprint optimization progress continued, negatively impacting profit • Announced closure of two plastic container facilities
The number of Americans who claim to have read a book in the previous year declined slightly, according to a new survey by the Pew Research Center. However, in a somewhat surprising twist, the survey also showed that young adults 18-29 were more likely to have a read a book over the past year than their older counterparts. According to the survey, which was launched in 2011 and has been conducted annually since, over the past year 72% of American adults read a book, either in whole or in part, compared to 80% of young adults. Looking at other age groups, the survey showed that 71% of those in the 30 to 49 age group read a book in the last year, while 68% did so in the 50 to 64 age group.