Net sales decreased 2% to $1,116.7 million in the 2Q 2014, compared to $1,139.7 million in the prior year period. Excluding $53.4 million of sales in the prior year period from divested businesses, net sales increased $30.4 million or 2.8%. The increase was driven by $23.7 million of higher pricing, $4.1 million of favorable exchange rates and $2.6 million of improved volume/mix.
Including $171.1 million of special charges, EBITDA for 2Q 2014 decreased to $19.7 million from $139.7 million in the 2Q of last year. When adjusting for these special charges, Adjusted EBITDA increased 9% to $190.8 million in 2Q 2014 from $175.1 million in 2Q 2013. The $171.1 million adjustment was primarily related to the June 2014 sale of the Company's multi-wall bag business. When comparing against the prior year quarter, Adjusted EBITDA in the 2Q 2014 was positively impacted by $23.7 million of higher pricing, $21.6 million of improved net operating performance and $0.3 million of favorable exchange rates. These benefits were offset by $12.8 million of commodity inflation, $10.7 million in higher labor and benefit costs, and $6.4 million of unfavorable volume/mix.
Graphic Packaging Holding Company is a leading provider of packaging solutions for a wide variety of products to food, beverage and other consumer products companies. The Company is one of the largest producers of folding cartons and holds a leading market position in coated-unbleached kraft and coated-recycled board.
