Ronpak Joins Two Sides

CJK Group, is pleased to announce the adoption of its GROW Learning Management System (LMS). The GROW LMS standardizes training across the entirety of the global company. For our customers, this set of online best practices will ensure a higher level of consistency and customer satisfaction. When you’re a global company with dispersed teams and diverse holdings, standardizing corporate best practices is incredibly difficult. CJK Group sought to update and reimagine its corporate learning environment, starting with a comprehensive leadership training program on skills development, company policies, and employment regulations. KnowledgeWorks Global Learning (KGL) was appointed to develop the LMS and design an engaging, six-module digital course for upskilling the company’s supervisors. In late 2021, CJK Group launched its secure, customized learning management platform to bring the whole company together with an organized, replicable training process called GROW. GROW offers a blended program featuring six mandatory online modules in a self-service format accessible to everyone in the business.

Last week, Advertisers Printing, a commercial shop in St. Louis, Missouri, celebrated an impressive milestone: 100 years in business. Alex Fechner, the fourth generation of the family to be stepping into the business, noted that since 1923, the company has seen "one Great Depression, two world wars, a booming economy, two recessions and last but not least…. COVID. In other words, lots of ups downs and everything in between." Bill Fechner, the third generation and Alex's father, noted at the event as the next generation begins to truly make its mark that, "There’s a saying that even a blind squirrel finds a nut eventually. After 44 and one-half years on the Advertisers' team, my title has officially changed from CEO to blind squirrel."

Revenues decreased by $142.3 million, or 18.5%, from $767.4 million in the second quarter of 2019 to $625.1 million in the corresponding period of 2020. This decrease is largely due to the impact of the disposal of our paper packaging operations ($70.8 million), which were sold at the end of the first quarter of 2020, and a decrease in volume in the Printing Sector, mostly due to the impact of the COVID-19 pandemic in April 2020. The sale of the specialty media assets and event planning activities also contributed to this decrease. The organic decline in the Packaging Sector of $7.0 million, or 1.7%, is mainly due to the decrease in raw material costs. Operating earnings increased by $1.0 million, or 2.3%, from $43.1 million in the second quarter of 2019 to $44.1 in the second quarter of 2020 following a decrease in restructuring and other costs. Adjusted operating earnings decreased by $15.1 million, or 18.1 %, from $83.6 million in the second quarter of 2019 to $68.5 million in the second quarter of 2020. This decrease is mostly attributable to lower revenues in the Printing Sector. In addition to cost reduction measures related to COVID-19, the operational efficiency initiatives introduced early in the fiscal year helped to mitigate this decline. The Printing Sector's adjusted operating earnings margin decreased from 16.6% in the second quarter of 2019 to 14.9% in the second quarter of 2020. Net earnings attributable to shareholders of the Corporation increased by $3.4 million, or 15.2%, from $22.3 million in the second quarter of 2019 to $25.7 million in the second quarter of 2020. This increase is mainly attributable to the stability of operating earnings combined with the decrease in net financial expenses resulting from a reduction in net indebtedness during the year.