RRD Confirms Receipt of Revised Proposal from Chatham Asset Management

Highlights: *Revenues of $700.0 million for the quarter ended July 28, 2024; operating earnings of $69.2 million; and net earnings attributable to shareholders of the Corporation of $43.6 million ($0.50 per share). *Adjusted operating earnings before depreciation and amortization(1) of $121.0 million for the quarter ended July 28, 2024; adjusted operating earnings(1) of $84.2 million; and adjusted net earnings attributable to shareholders of the Corporation(1) of $51.4 million ($0.60 per share). *Growth in adjusted operating earnings before depreciation and amortization(1) of 12.1%, with an increase of 20.6% in the Packaging Sector and of 12.4% in the Retail Services and Printing Sector. *Sale of a building for an amount of $7.1 million. *Repurchase of 1.2 million shares during the quarter ended July 28, 2024, for a total consideration of $17.7 million.

Heidelberger Druckmaschinen AG (Heidelberg) made significant progress with the Group’s targeted digital transformation in financial year 2017/2018 (April 1, 2017 to March 31, 2018). By the beginning of June, several customers had already opted for the new subscription model that offers Heidelberg products and services as part of a usage-based all-in contract running over several years. The total of over 30 contracts being targeted for the new financial year 2018/2019 looks set to generate business worth some €150 million over the standard five-year term of these models. However, as the number of contracts concluded is just starting to pick up, this will only be reflected in the company’s figures to any significant extent from financial year 2019/2020 onward, when it will also help stabilize Group sales. In addition, the series production of digital presses for packaging and label printing (Primefire and Labelfire), which also started in financial year 2017/2018, will have an increasingly positive impact on sales. Click Read More below for additional information.

CJK Group, Inc. announced that it has completed an agreement to acquire the assets of Times Printing, LLC in Random Lake, Wisconsin. Previously owned and operated as part of Nicholas Karabots’ Kappa Media Group of affiliated companies, the 324,000 sq. ft. print facility specializes in high quality 4-color printing of magazines, catalogs, and a wide spectrum of commercial print products. Times Printing capably serves the retail, consumer, and special interest markets, including B2B, travel and leisure, comics, and fundraising industries. The facility handles a variety of finish sizes, including digest, tabloid, slim jim, and oblong. Web and sheetfed presses accommodate long runs, short runs, and short cut-off work, heat set processes, and complex versioning and fulfillment. The facility offers full mailing and logistics services including co-mail, co-mingle, bound printed matter, and drop ship mailing. This acquisition will bring additional services and capabilities to the Sheridan companies, while giving Sheridan access to new markets. Organizationally, the plant will be recognized under the Sheridan brand, to be known as Sheridan Random Lake.