Financial summary for Q4 FY19 and full-year ended September 2019 • EBITDA excluding special items * For the quarter US$185 million (Q4 FY18 US$224 million) * For the year US$687 million (FY18 US$762 million) • Profit for the period * For the quarter US$50 million (Q4 FY18 US$107 million) * For the year US$211 million (FY18 US$323 million) • Net debt US$1,501 million (FY18 US$1,568 million). The major factors which influenced the group’s results include: • We experienced prolonged weakness in global graphic paper markets. • In the second half of the year the graphic paper segment started to benefit from a reduction in input costs, particularly paper pulp, helping to mitigate the impact of lower volumes.
*Total revenue was $128.0 billion, an increase of $3.1 billion, or 2.5%. Excluding currency2, total revenue was $129.0 billion, an increase of $4.1 billion, or 3.3%. *Walmart U.S. comp sales increased on a two-year stacked basis by 6.6%. Market share gains in the business were led by food and consumables, including fresh. *Walmart U.S. eCommerce sales growth of 41% includes strong growth in online grocery. *Walmart U.S. operating income increased 6.1%. *Sam's Club comp sales1 increased 0.6%, and eCommerce sales grew 32%. Reduced tobacco sales negatively affected comp sales by 350 basis points.
The magazine has been slowly dwindling in recent years, moving from a weekly in 2015 to twice per month in January 2018. It’s now moving to one issue per month, plus four special issues and the Swimsuit Issue. “We’re refining the exact schedule, but it will be essentially a monthly with four season-preview issues and the SI Swimsuit for a total of 17 issues,” said co-editor Steve Cannella, who moved into the job last month as part of a shake-up that saw 40 staffers — including 13 from the editorial side — axed.
McClatchy reported a net loss in the third quarter of 2019 of $304.7 million including a non-cash charge of $295.3 million for impairment of goodwill and masthead intangible assets. This compares to net income of $7 million in the third quarter of 2018. Total revenues in the third quarter of 2019 were $167.4 million, down 12.4% compared to the third quarter of 2018. Total advertising revenues were $76.8 million, down 19.3% in the third quarter of 2019 from a year earlier. Operating expenses were up 115.4%, primarily due to goodwill and masthead impairments.
Meredith Corporation announced it has launched FOOD & WINE China through a licensing partnership with Huasheng Media. FOOD & WINE's Chinese language edition is published bimonthly and is available in major cities, such as Beijing, Shanghai and Chengdu. "This new international title is a testament to the power and relevance of our best-in-class brands," said David Johnson, Senior Vice President of Corporate Development at Meredith. "We're pleased to provide FOOD & WINE to new audiences and markets and plan to continue to extend our capabilities on a global scale."
The FIPP Rising Stars in Media and Insight Awards were presented at the UPM Opening Reception at the FIPP World Media Congress on 12 November 2019. These awards celebrate outstanding work in the global media industry – recognising young leaders as well as various research-driven pieces of work that have given new insights to the industry. Soga Mbali, editor of South African Media 24’s True Love magazine, is this year’s overall winner of the FIPP Rising Stars in Media Awards. Mbali is awarded for her achievements taking the magazine in a new direction with a complete brand renewal. For the Insight Awards, the following projects and companies were rewarded with Gold awards in their respective categories: • Best Commercial Outcome: “The Power of Positivity”, Hearst UK • Best Magazine in Media Promotion: “Pay Attention”, Magnetic • Best Use of Insight B2B: “Conscious Reach”, Axel Springer
Resolute took concrete action to reduce GHG emissions at its pulp, paper, tissue and wood products facilities across the United States and Canada by improving the energy efficiency of its operations, producing renewable energy, managing water efficiently, and reducing waste and reliance on fossil fuels. These actions have allowed the company to reduce absolute GHG emissions (scope 1 and 2) by 81 percent relative to 2000 levels, benefiting both the environment and its bottom line. “I would like to thank AF&PA for honoring our achievements in the areas of climate and energy,” said Resolute President and Chief Executive Officer Yves Laflamme.
WestRock received the Leadership in Sustainability Award for Safety for creating recovery boiler safety shields and the Innovation in Sustainability Award for developing EnShield® Natural Kraft, a completely recyclable paperboard that is suitable for foodservice packaging. “WestRock’s safety shield helps to eliminate a safety hazard, showing that creativity and ingenuity go a long way in protecting the wellbeing of employees,” said AF&PA President and CEO Heidi Brock. WestRock’s Kraft containerboard mill in Hopewell, Virginia developed a safety shield to cover the recovery boiler ports and eliminate the risk of burn injuries to boiler operators and bystanders. EnShield® Natural Kraft is an innovative, completely recyclable paperboard that has the same level of oil and grease resistance as plastic and plastic-lined alternatives. Manufactured at WestRock's Mahrt, Alabama paper mill, its proprietary coating is achieved on the paper machine, eliminating the need for additional manufacturing steps.
Seaman Paper reduced their electricity consumption by over 1.2 million kilowatt hours per year by switching a significant portion of their lighting over to LED. The lightweight papers and decorative packaging supplier used energy conservation incentives provided by their utility to replace existing lighting with LED or specify LED lighting in their converting plants and warehouses in northcentral Massachusetts. Cost savings from the project offset payment to the utility and are now accrued by Seaman Paper. In addition, the project improved lighting in the facilities, promoting safety. “We thank AF&PA for recognizing our Let There Be (LED) Light Program,” said Seaman Paper CEO George Jones. “This program greatly improved our company’s energy efficiency and is appreciated by our stockholders, employees and customers.”
“By maximizing water reuse and recycling, Green Bay Packaging minimized their environmental footprint per ton of paper production, optimized energy savings and benefited their community by being a responsible water steward,” said AF&PA President and CEO Heidi Brock. Green Bay Packaging’s 100-percent recycled linerboard and medium mill in Green Bay, Wisconsin initiated water reuse practices, equipment investments, technology installations and chemistry changes that resulted in water efficiencies and reductions. Between 2005 and 2018, the mill achieved a 15 percent reduction in overall water use and an 18 percent reduction in water use per ton of paper production, while increasing production by 10 percent. Improving water reuse and recycling also reduced energy use and related greenhouse gas emissions, and provided resource savings to the community.