Revolution Acquires PolyAg Recycling (recyclingtoday.com)

The consolidated sales of the Group increased by EUR 61.7 million or 5.8% to EUR 1,122.1 million (Q1 2022: EUR 1,060.4 million). This growth is mainly due to the acquisition of the MM Packaging division. At EUR 61.6 million, the operating result was EUR 49.5 million below the comparative figure for the previous year (Q1 2022: EUR 111.1 million). This decline is mainly due to downtimes in the MM Board & Paper division due to market and remodeling and restructuring expenses of EUR 15.5 million in the packaging division. The Group's operating margin was therefore 5.5% (Q1 2022: 10.5%).

When we think about corrugated packaging, boxes used for shipping goods are probably what comes to mind for most adults. However, when given to children, those same boxes bring to life a world of wonder and creativity. What child doesn’t gravitate to empty boxes for play? From castles and robots to forts and rocket ships, corrugated boxes inspire a child’s imagination and help them understand how the world around them works. We asked employees to share some creative ways they and their children have used corrugated boxes. While moving homes, six-year-old twins put extra corrugated packaging to good use building a private fort and backdrop for their toys. “I was worried the boys would have nothing to do while we packed up the last of our house,” said Mary Beth Sharp, Vice President of Marketing. “But they came home from school and were super excited when they saw the extra boxes. They each made their own space and were content long enough for us to finish loading the moving truck.”

Second quarter 2023 net income (loss) was $(18.9) million compared to net income (loss) of $14.9 million in the second quarter of 2022. Net income (loss) from ongoing operations, which excludes special items, was $(2.0) million in the second quarter of 2023 compared with $17.2 million in the second quarter of 2022.