Amcor reports fiscal 2020 full year results

Fiscal 2020 Full Year Highlights
• GAAP net income of $612 million and earnings per share (EPS) of 38.2 cents per share;
• Adjusted EBIT of $1,497 million, up 7% in constant currency terms;
• Adjusted EPS of 64.2 cents per share, up 13% in constant currency terms;
• Bemis integration well ahead of original expectations. Pre-tax synergy benefits of $80 million delivered;
• Adjusted free cash flow of $1.2 billion, up 26%;
• Annual dividend increased to 46.0 cents per share, including 11.5 cents per share dividend declared today;
• $500 million share buy-back completed. Shares on issue reduced by 3.5% during the year; and
• Fiscal 2021 outlook: constant currency adjusted EPS growth of 5-10%. Adjusted free cash flow of $1.0-$1.1 billion.

Strong FY 2020 results in a milestone year
Amcor’s CEO Mr. Ron Delia said: “2020 has been a milestone financial year for Amcor during which we delivered outstanding financial results ahead of the upgraded guidance provided in May. Profit and Cash Flow were significantly higher than last year and supported continued capital investment, an increase in our dividend and the repurchase of 3.5% of shares outstanding. Despite managing through significant change and complexity, our business continued to demonstrate financial and operational resilience and the execution of our teams was outstanding.”

“Benefits from the transformational acquisition of Bemis were increasingly evident through the year. We made excellent progress in this first year of integration, with cost synergies almost 30% higher than original expectations and performance across the combined flexibles packaging business building momentum. We expect that momentum to continue to build as we leverage the broader geographic diversification, increased scale and unique capabilities that result from the acquisition.”

“As we look forward, Amcor remains well positioned to continue delivering consistently strong shareholder returns. For fiscal 2021, we expect free cash flow of over $1 billion and EPS growth of 5-10% driven by continued organic growth from our defensive consumer end markets, additional cost synergies and a lower share count resulting from shares already repurchased. We remain focused on protecting our co-workers, meeting the needs of our customers and continuing to develop responsible packaging which is even better for the environment. While uncertainties remain, we are confident in the resilience and potential of the business to help meet the growing need for product safety, hygiene, shelf life and convenience.”
more detail at: https://www.amcor.com/media/news/amcor-reports-fiscal-2020-full-year-results

Related Posts

Diversified Labeling Solutions Adds RFID Label Converting Capabilities

Diversified Labeling Solutions, a national converter of pressure-sensitive labels, has expanded its RFID label business with the addition of a new Mark Andy flexographic press with an inline Tamarack RFID inserter. As a leading national label supplier, DLS has seen significant growth in the demand for RFID labels. To continue to meet customer demand, and bring RFID label conversion inhouse, DLS has installed a new 13” 4-color Mark Andy 2200 flexographic press with three die cutters, a perforation station and an inline Tamarack P500 RFID module. The new equipment is installed in DLS’ Itasca, IL facility and adds to DLS’s already significant production portfolio. With five nationwide locations, DLS maintains a fleet of over 50 presses including flexographic, UV digital, HP Indigo and hybrid printing equipment.

Amcor sees U.S. Plastics Pact Roadmap launch as opportunity to drive circular economy progress

Amcor announced its support for the launch of the U.S. Plastics Pact’s Roadmap to 2025, an aggressive national strategy for how the U.S. Pact, Amcor and other signatory organizations – known as Activators – will achieve four 2025 targets. Launched today, the plan delineates specific actions, responsibilities and timeframes necessary to realize a circular economy for plastics in the United States. As a U.S. Pact Activator, Amcor joins others in the plastics value chain to drive progress through systemic change toward the 2025 targets: *Define a list of packaging to be designated as problematic or unnecessary by 2021 and take measures to eliminate them by 2025. *100% of plastic packaging will be reusable, recyclable or compostable by 2025. *By 2025, undertake ambitious actions to effectively recycle or compost 50% of plastic packaging. *By 2025, the average recycled content or responsibly sourced bio-based content in plastic packaging will be 30%.

Arrow Systems and Sihl Form Flexible Packaging Partnership

Arrow Systems, Inc. has announced a partnership with Sihl Group to pair the Arrowjet Aqua 330R with the Sihl ARTYSIO line of flexible packaging materials. This partnership allows customers looking for ways to digitally print and pack flexible packaging inline in a single production step up to 12.75’’ wide with water based, pigment inkjet. “We feel that the flexible packaging space is one that has enormous growth potential," says Shaan Patel of Arrow Systems, Inc. “We understand that the majority of customers in this space are currently outsourcing their flexible packaging needs because, in the past it has been too costly or difficult to produce them in-house. We believe that the combination of the Sihl materials with our pigment inkjet press will allow more customers to begin producing their own short run flexible packaging.”
Back To Top
×Close search
Search