Net sales increased by 31% in the second quarter. In comparable terms, growth reached 17%, driven by pricing actions. In most markets, demand developed favorably and has returned to pre-pandemic levels, however with some exceptions, particularly in China. Tensions on raw material availability limited our capacity to further grow volumes according to the demand, most notably in North America. We continued to mitigate the significant inflation which impacted all our major input costs, including raw materials, freight costs, energy and labor. We protected our profitability through operational efficiency improvements and pricing actions, with the adjusted EBIT increasing by 29%. Cash flow remained impacted by increased working capital and capital expenditure. We continued our organic investment into sustainable product innovation and business expansion. For example, we announced the expansion of our molded fiber product manufacturing unit in Hammond, Indiana, US. This investment in fiber technology supports market demand for more sustainable solutions in North America, such as egg cartons and cup carriers. The planned USD 100 million investment will start ramping up towards the end of 2023.
The just released Paper and Packaging Board’s (P+PB) 9th annual State of the Campaign report details the positive impact of its sustainability campaign on the paper and packaging industry’s reputation and consumer preference.
The national consumer campaign addresses consumers’ concerns about the use of forests to make products, showcases product innovations and plastic substitutions, educates why using paper products is a smart choice for the environment and reminds how to recycle properly.
“The campaign is making an impact with consumers,” says Mary Anne Hansan, P+PB President. Learning the facts about the paper industry’s sustainability practices and product benefits dramatically improves whether our core audience sees the industry as part of the environmental solution or problem,” says Hansan. “After hearing our messaging, consumers’ perceptions of our industry tend to increase based on our Attitudes and Usage Tracking Survey. When people feel like they are part of the environmental solution by choosing paper products, their likelihood of consuming more paper and packaging increases.”
more at: https://www.paperandpackaging.org/industry-resources/news/paper-and-packaging-boards-state-campaign-report-highlights-impact