Corrugated volume growth in the first quarter was up approximately 7% in both Europe and the Americas. This demonstrates SKG’s exposure to high-growth markets, sectors and channels including innovative and sustainable packaging solutions and e-commerce. Containerboard prices have increased in the first quarter and again at the start of the second quarter as a result of strong demand and higher recovered fibre and other costs. SKG’s recovered fibre cost has increased by approximately €90 million versus the first quarter of last year. We are progressively recovering these input costs through our corrugated box system. In addition to cost pressures, the industry is experiencing supply disruptions and shortages of packaging papers globally. Against this market backdrop, our integrated business model is again, proving a key differentiator with continuity of supply to our customer base.
AptarGroup, Inc. (NYSE:ATR) today reported fourth quarter and annual results for 2020 and highlighted the resiliency of the Company’s business model throughout the COVID-19 pandemic.
Fourth Quarter 2020 Summary
*Strong fourth quarter performance — reported sales grew 12%; core sales (excluding acquisitions and currency effects) grew 5%
*Double-digit sales growth for Pharma and Food + Beverage segments (reported and core sales) on broad based demand for our innovative solutions
*Acquisitions contributed to Beauty + Home’s reported sales growth while core sales declined modestly — continued strong demand from personal care and home care markets was offset by a marginally improved, though still below prior year, beauty market and lower custom tooling sales
*Reported earnings per share totaled $0.79 (an increase of 8% compared to the prior year)
*Adjusted earnings per share totaled $0.92 (an increase of 8% compared to the prior year when neutralizing currency effects)
*Achieved another quarter of strong cash flow from operations and free cash flow
*Declared quarterly dividend of $0.36 per share
Annual 2020 Summary
*Diversified business drove performance throughout the pandemic with considerable improvement in the second half of the year
*Reported sales growth of 2% with core sales equal to the prior year
*Reported earnings per share of $3.21 (a decrease of 12% compared to the prior year)
*Adjusted earnings per share of $3.64 (a decrease of 9% compared to the prior year when neutralizing currency effects)
*Earnings were negatively impacted by the effects of the global pandemic on the beauty and beverage markets
*Record cash flow from operations of $570 million (an increase of 11% compared to the prior year)
*Record free cash flow of $324 million (an increase of 19% compared to the prior year)
*Achieved our 27th consecutive year of increasing our aggregate annual dividend amount, returning $93 million to shareholders
*Acquired FusionPKG, a leader in high quality, prestige airless and color cosmetics packaging, and conception-to-launch turnkey solutions for the North American beauty market
*Expanded portfolio of digital health offerings through a strategic investment in Sonmol, the acquisition of the assets of Cohero Health, and the launch of a connected inhaler program for respiratory diseases in India with Lupin Limited
*Furthered our ESG commitments and received additional recognition (Newsweek’s Most Responsible Companies, Barron’s Most Sustainable Companies, CDP’s A List and Supplier Engagement leader, ISS ESG Prime Status, EcoVadis Gold)
For the quarter ended December 31, 2020, reported sales increased 12% to $749 million compared to $671 million in the prior year. Core sales, excluding the impacts from changes in currency exchange rates and acquisitions, increased 5%.
For the year ended December 31, 2020, reported sales increased 2% to $2.93 billion compared to $2.86 billion reported a year ago while core sales remained flat. The effects of currency translation rates were more than offset by the positive contribution from acquisitions.
Cash generated from operations for the year reached $570 million, an increase of 11% over $514 million in the prior year primarily due to better working capital management and the positive impact of recent acquisitions.
details at: https://www.aptar.com/wp-content/uploads/2021/02/PR-Aptar-Feb-18-2021.pdf