BERRY GLOBAL
Fiscal 2020 delivers record financial results that beat company's expectations / Health, Hygiene & Specialties segment was outperformer
 Berry CEO Thomas Salmon (Photo: Berry Global) |
Berry Global’s (Evansville, Indiana / USA; www.berryglobal.com) fourth-quarter to September revenues were flat year-on-year at USD 3 bn (EUR 2.52 bn) despite a 4% organic volume growth, which was offset by lower selling prices. For the full year, however, sales soared 32%, operating income jumped 21%, while operating EBITDA added 41%, thanks partly to the contribution of RPC (Rushden / UK; www.rpc-promens.com), which it integrated in July 2019 (see Plasteurope.com of 03.07.2019).
The health, hygiene and specialities segment was the star performer, with fourth-quarter sales up 6% at USD 604m and operating EBITDA improving 37% at USD 118m. The engineered materials segment was the weakest. Sales dropped 7% to USD 587m although operating EBITDA added 5% at USD 106m. Consumer packaging sales were either flat – at “North America” – or down 1% – at “International” – due to the pass-through of lower resin costs.
The company forecasts 2021 organic volume growth at 2% and operating EBITDA to be at USD 2.15-2.2 bn compared with USD 2.157 bn in 2020.
The health, hygiene and specialities segment was the star performer, with fourth-quarter sales up 6% at USD 604m and operating EBITDA improving 37% at USD 118m. The engineered materials segment was the weakest. Sales dropped 7% to USD 587m although operating EBITDA added 5% at USD 106m. Consumer packaging sales were either flat – at “North America” – or down 1% – at “International” – due to the pass-through of lower resin costs.
The company forecasts 2021 organic volume growth at 2% and operating EBITDA to be at USD 2.15-2.2 bn compared with USD 2.157 bn in 2020.
30.11.2020 Plasteurope.com [246439-0]
Published on 30.11.2020
German version of this article...