Diversey Announces Partnership with Synexis LLC

*GAAP: Net sales of $3.2 billion; Operating income of $267 million; Earnings per share of $1.18 *Non-GAAP: Operating EBITDA of $522 million; Adjusted earnings per share of $1.90 *Returned $115 million to shareholders in the quarter ($83 million via share repurchases and $32 million in dividends)

There has been a surge in consumer demand for Bag-in-Box wines in the current year according to new data, partially caused by changing behaviours due to the Covid-19 pandemic. Research by packaging leader Smurfit Kappa in collaboration with Wine Intelligence found that Bag-in-Box wine attracted 3.7 million new consumers in France and the UK during the past six months. The survey analysed the behaviour of monthly wine drinkers in France and the UK, who have increasingly moved to drinking and entertaining at home due to the restrictions of the pandemic. France is the biggest market for Bag-in-Box wine and the UK is currently one of the fastest growing. Consumers noted freedom of consumption, ease of transport and value for money as the main motivations when purchasing Bag-in-Box wines. Other benefits of Bag-in-Box wine include its ability to preserve wine for up to 6-8 weeks after opening compared to 2-3 days in a glass bottle, and its lower carbon footprint.

January–June 2023 (compared to 1–6/2022) *Sales were EUR 1,040.2 million (1,232.5). *The comparable operating result was EUR 116.0 million 267.4), or 11.2% of sales (21.7). Operating result was EUR 117.9 million (283.3). *Net cash flow from operations was EUR 142.0 million (95.3). April–June 2023 (compared to 4–6/2022) *Sales were EUR 498.2 million (650.5). *The comparable operating result was EUR 27.3 million (145.9), or 5.5% (22.4) of sales. Operating result was EUR 29.5 million (142.6). *Net cash flow from operations was EUR 15.6 million (2.7).