Net Sales increased 38% to $1,509.3 million in the second quarter of 2018, compared to $1,094.7 million in the prior year period. The $414.6 million increase was driven by $360.1 million of revenue from the SBS mill and foodservice converting assets, $37.0 million of improved volume/mix related primarily to acquisitions, $9.5 million of favorable foreign exchange, and $8.0 million of higher pricing. EBITDA for the second quarter of 2018 was $227.2 million, or $62.7 million higher than the second quarter of 2017. After adjusting both periods for business combinations and other special charges, Adjusted EBITDA increased 38% to $235.8 million in the second quarter of 2018 from $170.6 million in the second quarter of 2017. Click Read More below for additional information.
Pregis, a leader in protective packaging solutions, was honored with a Process Innovator award in the 6th annual 2019 SAP Innovation Awards competition. The award is given to companies that best demonstrate the use of technology to redefine business processes and drive significant improvements to current operations.
“An ongoing goal is to transform packaging operations with smarter connected devices. We want to maximize the value harvested from protective packaging systems to help companies run their operations more efficiently,” explained Jeffrey Mueller, vice president and chief information officer, Pregis.
Pregis is deploying SAP Connected Goods with Edge Services and SAP Analytics Cloud to help manage Internet of Things enabled devices it maintains at customer distribution centers.
“The result is a digital system that uses machine and consumption data to help customers improve packaging productivity. Additionally, the system alerts our technical experts so that they can address mechanical issues before they become problems,” said Mueller. “Machines that are smarter, better connected and require fewer service calls are critical to supporting the companies that depend on our equipment to get their products to consumers and/or to other industrial locations.”
Additionally, the competition has a charitable component. In honor of all the submissions, the SAP Innovation Awards team is donating $20,800 to the following charities/non-profits: Care, Social Enterprise Academy, and Social Good Brasil.