SCA to increase kraftliner prices by €50 per tonne

Quarter Highlights: *Delivered net sales of $5.1 billion, up 1 percent, with organic sales growth of 5 percent. *Gross margin was 33.7 percent, up 350 basis points; adjusted gross margin was 34.0 percent, up 380 basis points versus the prior year, driven by favorable net revenue realization and productivity, offsetting inflation. *Raised 2023 outlook for organic growth to 3% - 5%, and for adjusted earnings per share growth of 10% - 14%, with adjusted operating margin up 150 basis points at the midpoint versus last year.

Atlantic Packaging Products, Ltd., of Scarborough, Ontario, Canada, is pleased to announce the formation of a strategic partnership with York Container Company (YCC) of York, Pennsylvania. Details and terms of this partnership are not being disclosed. Stephen Tansey, President and representative of YCC's shareholders, commented "York Container is committed to growth and providing innovative solutions to our customers. We have enjoyed robust growth over the past several years, but we believe that in order to take our plans to the next level we need to partner with a like-minded company to expand geographically and extend our capabilities to a broader customer base. After an evaluation of our various options, we are thrilled to join forces with Atlantic. This is the best possible outcome for all of our stakeholders, in particular, our customers and employees." Irving Granovsky, Chairman of Atlantic Packaging, describes the rationale for this transaction: "Atlantic is always looking for progressive and well-managed companies to team up with. We feel York Container is a wonderful addition to our partnership portfolio." Click Read More below for additional detail.

Net sales in the fourth quarter were $2,858 million compared to $3,012 million in the fourth quarter of 2022 reflecting higher beverage can volumes in Americas Beverage and favorable foreign currency translation of $42 million, offset by the pass through of $145 million in lower material costs and lower volumes across most other businesses. Income from operations was $259 million in the fourth quarter compared to $229 million in the fourth quarter of 2022. Segment income in the fourth quarter of 2023 was $382 million compared to $292 million in the prior year fourth quarter reflecting higher beverage can volumes in Americas Beverage and the contractual recovery of prior years' inflationary cost increases in European Beverage, both more than offsetting the under-absorption of fixed costs.