Investor Presentaiton
Flexibles segment
Annual earnings growth benefited from price and cost actions
FY22
FY23
Comparable
constant
currency A
•
Net sales ($m)
11,151
11,154
+1%
•
Adjusted EBIT ($m)
1,517
1,429
+1%
Adjusted EBIT margin
13.6%
12.8%
PROFESSIONAL
LOFMERGS
PROFESSIONAL
LOFBERGS
PROFESSIONAL
PROFESSIONAL
Fiscal 2023 highlights
•
•
Customer transition to
AmPrima TM forming film
Customer transition to
AmPrima TM Plus coffee
pouch
Net sales of $11.2bn includes price increases of ~$515m
(5% growth) related to higher raw material costs
Net sales up 1%. Strong price/mix; volumes down 3%
•
•
Overall volumes in all regions impacted by slower
demand and customer destocking primarily in the
second half of the year
Strong volume growth in priority pet care and
pharmaceutical end markets
Adjusted EBIT up 1% reflecting favorable cost
performance, partly offset by lower volumes and
unfavorable mix trends
4Q Net Sales and Adjusted EBIT impacted by lower
volumes and unfavorable mix trends, partly offset by
cost reduction benefits
7
Notes: Non-GAAP measures exclude items which are not considered representative of ongoing operations. Further details related to non-GAAP measures including Adjusted EBIT and reconciliations to U.S. GAAP
measures can be found in the appendix. Comparable constant currency A% for Net sales excludes a 5% impact from the pass through of higher raw material costs, a 4% unfavorable currency impact and a 2%
unfavorable impact from items affecting comparability (acquired, disposed and ceased operations).
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