2020 Highlights
Vision 2025 goals on track following execution of strategic investments, development of new, sustainable fiber-based packaging solutions and the successful pivot to net organic sales growth.
Showcased corporate responsibility and long-standing commitment to sustainability in environmental, social and governance (ESG) report highlighting progress in sustainability across all facets of operations.
Net Sales were $6,560 million versus $6,160 million in the prior year.
Net Organic Sales increased 5% in the fourth quarter and 4% for the full year 2020 versus the prior year periods.
Net Income was $167 million versus $207 million in the prior year.
Earnings per Diluted Share were $0.60 versus $0.70 in the prior year.
Adjusted Earnings per Diluted Share were $1.12 versus $0.87 in the prior year.
The labels & tags segment of the packaging type is accounted for the moderate market share but is projected to grow at a higher CAGR during the forecast period. This growth is due to its application in almost all types of packaging variables. Labels are the mostly used packaging type as they display product information, brand identification symbols, and transportation details during shipping.
The digital printing technology of the printing technology segment is projected to grow at the highest between 2020 and 2025. The excellent print-ability and aesthetic appeal will drive the market of digital printing technology in the packaging printing market. Digital printing is highly preferred for packaging printing in personal care & cosmetics products, because of its aesthetic appeal facility to attract consumers at point-of-sale (POS).
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