Graphic Packaging Holding Company reported net income for 4Q 2018 of $47.5 million, or $0.15 per share, based upon 306.8 million weighted average diluted shares.This compares to 4Q 2017 net income of $173.9 million, or $0.56 per share, based on 311.2 million weighted average diluted shares, as the company said in the press release received by Lesprom Network.
For the full year 2018, net income was $221.1 million, or $0.71 per share, based upon 310.1 million weighted average diluted shares. This compares to 2017 net income of $300.2 million, or $0.96 per share, based on 311.9 million weighted average diluted shares.
Net sales increased 36% to $1,507.7 million in the 4Q 2018, compared to $1,109.9 million in the prior year period. The $397.8 million increase was driven by $362.8 million of revenue from the SBS mill and foodservice assets including the Letica acquisition, $21.5 million of improved volume/mix related primarily to acquisitions, and $21.8 million of higher pricing. These benefits were partially offset by $8.3 million of unfavorable foreign exchange.
Net sales increased 37% to $6,023.0 million for the full year 2018, compared to $4,403.7 million in the prior year period.
EBITDA for the 4Q 2018 was $210.6 million, or $31.5 million higher than the 4Q 2017.
After adjusting both periods for business combinations and other special charges and credits, Adjusted EBITDA increased 29% to $248.1 million in the 4Q 2018 from $192.4 million in the 4Q 2017.
EBITDA for the full year 2018 was $908.1 million, or $228.1 million higher than the full year 2017.
Graphic Packaging Holding Company is a leading provider of paper-based packaging solutions for a wide variety of products to food, beverage, foodservice, and other consumer products companies.
