RRD Builds for Future with Maureen Powers as new President of RMS

Recent Highlights *Achieved 2023 guidance and reported Net Sales of $3.0 billion in 2023 compared to $3.2 billion in 2022. *Anticipating $60 million of cost savings from recent plant capacity and labor reduction initiatives in response to ongoing external headwinds, including significant postal rate increases and economic uncertainty that negatively impact print volumes. *Recognized a Net Loss of $55 million in 2023 compared to Net Earnings of $9 million in 2022 primarily due to lower sales, higher restructuring expenses and increased interest costs despite decreasing debt. *Reduced Net Debt by $564 million or 55% over the past four years as part of a multi-year debt reduction strategy, achieving Net Debt Leverage of 2.0x at December 31, 2023.

Books endure. We discard newspapers the day after, magazines stick around a bit longer, junk mail not at all, but books we keep. After we read a book, we shelve them, we show off our book collection as backdrops in our Zoom calls, we stack books in corners, we store them in boxes, we might drop them off at a used bookstore, we might even make books into works of art, but we almost never just toss them out. Printed books endure. Book printing company Grafica Veneta, located in the Italian province of Padua, a half hour drive from the causeway to Venice, announced the acquisition of a majority ownership stake in Lake Book Manufacturing. The acquired company is close by Chicago’s O’Hare airport, likely an enabling factor in the decision by an Italian book manufacturer to invest in a US-based partner. The owner of Lake Book, Dan Genovese, noted that his family’s Italian heritage also played a part in the decision to seek and accept an international investment in the company, especially one based in Italy. Both companies are positioned to manufacture a wide range of book products for the publishing trade, with capabilities ranging from one-color to full-color text, paperback and hardcover editions, along with fully decorated book jackets.

LSC Communications has embarked on a new strategic relationship with international academic publisher Taylor & Francis Group, a division of Informa plc, to provide print, fulfillment and distribution services. According to Dave McCree, President of Book Sales at LSC Communications, “We are very excited about the opportunity to work with Taylor & Francis. LSC has been diligently focused on creating a scalable, customizable and fully integrated supply chain model for publishers that brings efficiencies to the next level, and we will continue to innovate new ways to support Taylor & Francis and our other global publishing clients.” Click Read More below for additional information.