Global packaging manufacturer CANPACK announced it will build its second U.S.-based, state-of-the-art aluminum beverage can body manufacturing plant in Muncie, creating over time approximately 345 high-paying, local jobs by 2023. The proposed project, which represents a $380 million investment in Delaware County and the State of Indiana with the potential to expand to 425 jobs and $490 million by 2025, will be located on 139 acres of land on the southwest corner of South Cowan and West Fuson Roads in Monroe Township in Muncie. Officials from CANPACK and its owner Giorgi Global Holdings, Inc. jointly announced the new facility with state and local elected officials and economic development leaders following the Delaware County Council’s approval of the project earlier today, with economic development incentives provided by both the state and local governments. Construction of the 862,000-square-foot facility is expected to begin in mid-2021. Plant operation is slated to commence in the fourth quarter of 2022.
Q2 2021 in brief:
Net sales increased 10% to EUR 877 million (EUR 797 million)
Adjusted EBIT was EUR 80 million (EUR 70 million); reported EBIT was EUR 75 million (EUR 70 million)
Adjusted EPS was EUR 0.53 (EUR 0.44); reported EPS was EUR 0.50 (EUR 0.44)
Comparable net sales growth was 14% at Group level and 20% in emerging markets
The impact of currency movements was EUR -35 million on the Group’s net sales and EUR -4 million on EBIT
H1 2021 in brief:
Net sales increased 2% to EUR 1,679 million (EUR 1,642 million)
Adjusted EBIT was EUR 157 million (EUR 144 million); reported EBIT was EUR 147 million (EUR 153 million)
Adjusted EPS was EUR 1.02 (EUR 0.90) reported EPS was EUR 0.95 (EUR 0.97)
Comparable net sales growth was 6% at Group level and 13% in emerging markets
The impact of currency movements was EUR -81 million on the Group’s net sales and EUR -8 million on EBIT
Charles Héaulmé, President and CEO: “We are pleased to deliver further net sales growth, beyond pre-COVID pandemic levels, and improved profitability while continuing to face a very challenging cost environment. Overall demand has supported growth. The global progress of vaccinations and removal of social mobility restrictions has benefited food on-the-go which has continued to gradually recover. However, the global food packaging market remains volatile with significant challenges in many countries still heavily impacted by the pandemic. This volatility is also evident in the supply chain with significant inflation in the prices of raw materials, especially polymers and recycled fiber.
Altogether our second quarter results were strong although with mixed performance across the different regions and businesses. Net sales increased 10%, amounting to EUR 877 million, reflecting the improved demand for foodservice packaging. Comparable net sales growth was 14%. This strong growth should be contextualized versus a depressed comparable period in 2020. Net sales for the first half of 2021 increased 2%, and 6% in comparable terms. The adjusted EBIT margin improved 0.3 p.p. to 9.1% in the second quarter and reached 9.3% in the first half of 2021. This was supported by a continued focus on operational efficiency and pricing actions to mitigate input cost inflation.”
details at: https://www.huhtamaki.com/en/media/media/stock-exchange-release/2021/huhtamaki-oyjs-half-yearly-report-january-1june-30-2021-strong-comparable-net-sales-growth-with-improved-profitability/