Sonoco announced it is implementing a price increase for all rigid plastic packaging in the United States and Canada, effective November 5, 2018. Prices will be increased between 6 percent and 10 percent based on the specific resin substrate. “Sonoco’s Supply Management team has adeptly leveraged our global buying presence, enabling us to source the resin we need to serve our customers, while mitigating as much inflation as possible,” said Jeff DiPasquale, division vice president and general manager for Sonoco’s Global Plastics operations. “However, continued resin disruptions, strong regional demand, and increases in other materials and freight are driving prices up throughout the supply chain. While we will continue to monitor the domestic and global sourcing landscape to find ways to temper as much of this inflation as possible, we must recover our current cost exposure. We are confident in our sourcing capabilities and will do everything we can to control these costs as much as possible.”
January–September 2018 (1–9/2017)
• Sales were EUR 1486.1 million (1397.3).
• Comparable operating result was EUR 191.9 million (139.1), or 12.9% (10.0%) of sales. Operating result was EUR 186.3 million (152.7).
• Comparable earnings per share were EUR 0.44 (0.27), and earnings per share were EUR 0.43 (0.30).
• Comparable return on capital employed was 14.7% (10.6%).
July–September 2018 (4–6/2018)
• Sales were EUR 475.1 million (518.7).
• Comparable operating result was EUR 63.7 million (59.2), or 13.4% (11.4%) of sales. Operating result was EUR 63.7 million (53.6).
• Comparable earnings per share were EUR 0.16 (0.13), and earnings per share were EUR 0.16 (0.12).
• Comparable return on capital employed was 15.0% (13.9%).
Metsä Board’s CEO Mika Joukio: “Profitability in the third quarter improved due to the increased average prices of folding boxboard, white kraftliner and market pulp. The average price of paperboard rose due to successful price increases and the optimisation of the sales mix. The pulp market remained strong and the increased production and delivery volumes of pulp improved the result of our associated company Metsä Fibre.
Our paperboard deliveries were at a record-high level during the first half of the year and particularly during the second quarter. We estimate the high delivery volumes during the first half of the year to have increased customers’ stocks, which had an effect on our delivery volumes during the third quarter. The changes in the delivery volumes of market pulp were mainly due to theincrease in our own pulp consumption from growing paperboard production at the Husum mill in Sweden.
more detail at: https://www.metsaboard.com/Media/Stock-Exchange-and-Press-Releases/Pages/Release.aspx?EncryptedId=50766E456241080D&Title=MetsaBoardscomparableoperatingresultinJanuarySeptember2018wasEUR192million