American Forest & Paper Association Releases May 2021 Packaging Papers Monthly Report

Net sales of $1.1 billion increased 3.0% on an as reported basis. Currency had a negative impact on total net sales of 0.7%, or $7 million. As reported, net sales in North America increased 9%. Asia Pacific declined 2% while Latin America and EMEA declined 4% each. Net income from continuing operations on a reported basis was $29 million, or $0.14 per diluted share, as compared to net income from continuing operations of $2 million, or $0.01 per diluted share, in the second quarter 2016. Net income in the second quarter 2017 was unfavorably impacted by $40 million of special items, including $18 million of tax expense and $18 million of charges related the pending sale of Diversey. Special items negatively impacting the second quarter of 2017 also included costs incurred related to the sale of Diversey, and restructuring and other restructuring associated costs. Net income in the second quarter 2016 included $72 million of special items, including charges related to ceasing operations in Venezuela, restructuring charges and other costs associated with our restructuring programs, and a loss on the remeasurement of our Venezuelan subsidiaries. Click Read More below for additional detail.

Brazilian beverage producer Socorro Bebidas (Socorro) has expanded its partnership with Crown Embalagens Metálicas da Amazônia S.A., a subsidiary of Crown Holdings, Inc. (NYSE: CCK) (Crown) (www.crowncork.com), to launch Acquíssima Sabor flavored mineral water in 350ml (12oz) CrownSleek cans. The premium zero-calorie drink features natural aromas, offering a health-conscious alternative for consumers to stay hydrated and incorporate key nutrients into their daily diets. The line made its debut with two flavors, Lychee and Green Apple, and is currently available in Acquíssima stores, restaurants and supermarkets in Brazil. Socorro also previously utilized CrownSleek cans to package its Acquíssima mineral water brand, its first entry into the water market. Total canned water volume in Brazil has increased by nearly 7x between 2021 and 2022, demonstrating a growing trend in the region for water packaged in aluminum and a continued shift away from tap and bulk water. When considering the package format for the brand, Socorro knew it needed to help convey the refreshing and health-conscious nature of the beverage, while also delivering on sustainability. The inherent properties of metal packaging, including providing a powerful barrier against light and oxygen, helps maintain the product's freshness. Aluminum beverage cans are also infinitely recyclable and are the most recycled beverage package in the world. These characteristics resonate with Brazilian consumers, who have recently helped drive the country's recycling rate for aluminum beverage cans to an astounding 100%.

Second Quarter 2022 Summary *Reported sales grew 4% and net income increased 15% to $64 million *Core sales increased 10% and adjusted EBITDA increased 8% to $160 million *Reported earnings per share increased 17% to $0.95 compared to $0.81 in the prior year *Adjusted earnings per share increased 13% to $0.96 compared to $0.85 in the prior year (including comparable exchange rates) *Each segment achieved sales growth through improved volume as well as increased pricing, with Pharma and Beauty + Home segments reaching double-digit core sales growth