Klabin reaches Adjusted EBITDA of R＄ 1.942 billion in the first quarter of 2023

Novolex® announced that two of its brands, Eco-Products® and Vegware™, have earned coveted awards for their innovative solutions in compostable packaging. Eco-Products and Vegware were each honored with the Foodservice Packaging Award for Innovation in Manufacturing, tying for first place. Eco-Products earned the award for making high-quality digital print a reality on molded fiber packaging. Vegware was recognized for creating a compostable paper cutlery solution for markets that need fiber solutions across all packaging categories. “We are extraordinarily proud of our brands for their tireless commitment to innovation, creating new products that redefine excellence as we lead the way to a more sustainable future,” said Adrianne Tipton, PhD, Chief Technology Officer of Novolex.

For the full year, revenue (continuing operations) declined 2 per cent on a constant currency basis. There was a positive contribution from European corrugated box volumes (£22 million) and an incremental c. nine month contribution from Europac (which was acquired in mid January 2019) of £376 million, offset in Europe by reduced pricing of external paper, recyclate and box prices (together down £285 million year on year), and a decline in other volumes particularly due to increased paper and recyclate integration and reduced volumes of corrugated sheet (down £175 million). The reduced sales price across the European operations was driven principally by a fall in testliner and kraftliner pricing, which partly fed through into corrugated packaging pricing progressively through the year as indexed contracts adjusted for the market price of paper, the main input cost. The North America business also recorded a fall in revenue (down £63 million), principally reflecting lower paper prices into the export market. Operating profit improved 6 per cent (constant currency) to £455 million (2018/19: £427 million).

Net sales of $1.4 billion decreased 8% as reported in fourth quarter 2022, with APAC decreasing 14%, Americas decreasing 8%, and EMEA decreasing 6%. Net earnings were $95 million, or $0.65 per diluted share, in fourth quarter 2022 as compared to net earnings of $169 million, or $1.12 per diluted share, in fourth quarter 2021. Full year 2022 net sales of $5.6 billion increased 2% as reported, with Americas increasing 6%, APAC decreasing 6%, and EMEA decreasing 3%. Full year 2022 net earnings were $491 million, or $3.33 per diluted share, as compared to net earnings of $491 million, or $3.22 per diluted share, in full year 2021.