Strong Financial Performance
Net sales grew 49% and adjusted EBITDA was up 25% with a 100 basis points expansion in adjusted EBITDA margin to 17.2%.
Consumer Packaging Segment Success
Achieved 115% growth in adjusted EBITDA due to a 10% volume/mix gain in the metal U.S. business and the Eviosys acquisition.
Industrial Segment Margin Improvement
Industrial segment grew adjusted EBITDA by 16%, with EBITDA margins expanding to 19%, marking the seventh consecutive quarter of margin improvement.
Successful Divestiture and Debt Reduction
Divested Thermoformed and Flexible Packaging, reducing net leverage ratio to below 3.8x.
Synergy Achievements
Projected $40 to $50 million in synergy savings by the end of 2025 for SMP EMEA, with a line of sight to greater than $100 million in cost savings through 2026.
New Growth Initiatives
Secured a multiyear contract with a pet food customer in Eastern Europe for up to 400 million incremental units annually.