In the context of a more positive economic environment – with the exception of the UK, Antalis' sales came in at Euro 1,205 million, down 4.1% in 1H 2016 (and down 2.1% at constant exchange rates). EBITDA grew by 2.1% to Euro 43 million.

Packaging

Antalis' EBITDA up 2.1% to Euro 43 million in 1H 2017

In the context of a more positive economic environment – with the exception of the UK, Antalis' sales came in at Euro 1,205 million, down 4.1% in 1H 2016 (and down 2.1% at constant exchange rates). This reflects the slight decline in Paper volumes and an unfavourable forex impact amounting to Euro 25 million (mainly attributable to sterling).

The Packaging and Visual Communication sectors recorded good growth in their gross margin and these businesses continued to increase their contribution to Antalis’ consolidated gross margin; this 2 now stands at 34%, up 2 points year on year. The acquisitions completed in late 2016 in each of the Group’s three business sectors added €13 million to H1 2017 sales.

EBITDA grew by 2.1% to Euro 43 million. Antalis benefited from an enhanced product mix and the positive impact of lower overheads driven by greater flexibility in the supply chain, which helped to absorb the impact of lower volumes in Papers. The negative FX impact on H1 EBITDA amounted to Euro 1 million.

Current operating income rose 15.8% to Euro 34 million and included a Euro 2 million gain arising on a change to a Swiss pension plan.

Commenting on the half-year results, Hervé Poncin, Antalis’ CEO said: “Antalis recorded solid operational performances and improved its profitability over the first six months of the year, thanks notably to an enhanced gross margin rate in the Packaging and Visual Communication sectors and cost reductions. Based on the second-half outlook, we confirm our full-year profitability targets."

Antalis is the European leader and the global leader (outside of the United States) in B2B distribution of Papers and Packaging solutions and one of Europe’s top three distributors of Visual Communication solutions.