The operating profit for the period January-March was Euro 13.5 million.
EBITDA for the period January-March was Euro 19.2 million and the EBITDA margin increased to 13.1% compared to 11.3% for the same period last year.
“AR Packaging continued its solid performance in the 1Q 2016. Net sales grew by 48% and operating profit excluding non-recurring items increased to Euro 14.6 million with an operating margin of 9.9%. This is the highest level in a first quarter in the Group’s history. The performance is a result of our strengthened market position as well as our continued focus on improving efficiency throughout our operations. The EBITDA margin increased to 13.1% before non-recurring items. The Group also delivered a stable cash flow following healthy improvement in profitability.
“The increase in net sales and operating profit is mainly linked to our acquisition of the European operations of MeadWestvaco Corporation (MWV) as from 1 May, 2015. The acquired business continues to complement the Group in an excellent manner. Furthermore we had a very good development in the Branded Products division both in Europe and Russia. On a rolling 12 months basis we now have a sales level of around Euro 560 million,” Harald Schulz, CEO of AR Packaging, said.
AR Packaging is one of Europe’s leading companies in the packaging sector.
