As brands compete for consumer attention, 81 percent of shoppers have tried something new because the package caught their eye. Appearance or aesthetics of the package has led to 63 percent of shoppers repurchasing a product, and 52 percent have completely switched brands based on new packaging, according to Westrock. Bottom line, the look and feel of packaging are primary drivers that influence a customer’s purchasing decision in the aisle. It’s a powerful enabler that meets consumers’ need for a personalized brand experience. One of the key ways to create that experience is the use of finishing technologies. Amcor’s AmPlify™ finishing technologies for packaging is a portfolio of solutions designed to create engagement opportunities through more intense experiences with packaging elements that embody a product’s flavor, texture and scent.
SEE (NYSE: SEE) today announced financial results for the third quarter 2021.
“We delivered strong sales and earnings despite significant inflationary pressures and widespread supply challenges.
Our SEE Operating Engine is performing – SEE Touchless Automation and sustainable solutions are generating customer demand, growth, and productivity.
We continue to make significant progress on our journey to world-class by investing in SEE Touchless Automation, Digital, and Sustainability,” said Ted Doheny, SEE’s President and CEO.
Business Segment Highlights
Third quarter net sales in Food were $797 million, an increase of 13% as reported. Currency had a favorable impact of $6 million, or 1%. On a constant dollar basis, net sales increased $87 million, or 12%, with favorable price of nearly 7% and volume growth of 6%. Volume performance reflects improvement in food service and continued demand for automation. Adjusted EBITDA of $169 million, or 21.2% of net sales, increased 11% from $152 million, or 21.6% of net sales, in the prior year. The increase in Adjusted EBITDA was primarily attributable to higher volumes and productivity, offset by negative price/cost spread and other inflationary pressures.
Third quarter net sales in Protective were $609 million, an increase of 14% as reported. Currency had a favorable impact of $6 million, or 1%. On a constant dollar basis, net sales increased $71 million, or 13%, with favorable price of nearly 10% and volume growth of 4%. Continued demand in automation and industrial markets contributed to Protective’s volume growth. Adjusted EBITDA decreased 5.5% to $103 million, or 16.9% of sales, as compared to $109 million, or 20.4% of net sales, in the prior year. Adjusted EBITDA margin performance was negatively impacted by inflationary pressures and global supply disruptions.
Third Quarter 2021 U.S. GAAP Summary
Net sales of $1.4 billion increased 14% as reported. Favorable currency impact contributed $12 million, or approximately 1%, to net sales growth, as compared to the prior year.
Net earnings in third quarter 2021 were $108 million, or $0.71 per diluted share, as compared to net earnings of $132 million, or $0.85 per diluted share, in the prior year. The decline is due to higher income tax expense and a $15 million pre-tax loss on the debt redemption of 4.875% senior notes due 2022.
further detail at: https://ir.sealedair.com/news-releases/news-release-details/see-reports-q3-2021-results