Latest news with #PackagingGateway
Yahoo
4 days ago
- Business
- Yahoo
Greif ups FY25 guidance amid Q2 net income and sales rise
Industrial packaging solutions provider Greif has updated its fiscal year 2025 (FY25) guidance, lifting the lower end due to a strong performance in the second quarter (Q2) and a more favourable projection for price and cost dynamics compared to earlier forecasts. The company reported an increase in non-generally accepted accounting principles net income and sales for the quarter, with net income of $47.3m, representing a 6.5% increase from the $44.4m reported in the same quarter of the previous year. This translates to earnings of $0.82 per diluted Class A share, up from $0.77 per diluted Class A share in Q2 2024. The company recorded net sales of $1.38bn for the quarter, a slight increase from $1.37bn during the corresponding period last year. Gross profit for the second quarter reached $319.5m, compared to $270.1m in Q2 2024. Operating profit also saw an increase, amounting to $118.6m from $98.1m in the same quarter last year. Adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose by 26%, reaching $213.9m, compared to $169.7m in the previous year's second quarter. In terms of debt management, Greif reported a total debt of $2.77bn, which is a decrease of $140.9m. Net debt fell by $197.6m, bringing it down to $2.5bn. Greif has made progress in its cost optimisation programme, achieving $10m in run-rate savings by the end of the quarter. The company anticipates achieving between $15m and $25m in run-rate savings by the conclusion of FY25. Greif CEO Ole Rosgaard said: 'Greif delivered another strong quarter, balancing near-term financial execution with long-term strategic progress under our Build to Last strategy. We accelerated structural cost reductions and are on track to meet our 2025 targets. 'The resilience of our results, supported by deliberate portfolio moves and operational discipline, demonstrates that Greif is well-positioned for success and value creation now and in the future.' For FY25, Greif anticipates adjusted EBITDA to be at least $725m and adjusted free cash flow to reach a minimum of $280m. In March this year, Greif announced the permanent closure of its paperboard facility in Los Angeles, California, US. "Greif ups FY25 guidance amid Q2 net income and sales rise" was originally created and published by Packaging Gateway, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
6 days ago
- Business
- Yahoo
AeroFlexx secures patents for recyclable flexible packaging solution
Sustainable packaging provider AeroFlexx has been granted US Patents 11,548,709 and 12,071,292 for its flexible plastic packaging solution, the AeroFlexx Pak. The AeroFlexx Pak is a recyclable monomaterial package suitable for kerbside recycling. It meets industry standards for polyethylene-based films and flexible packaging, offering an advancement in sustainable packaging options. The solution merges the benefits of both rigid and flexible packaging into a single, improved design. It is capable of incorporating up to 50% recycled content while maintaining performance, addressing current market package shortcomings. This flexible packaging solution is designed to act like a rigid bottle, providing the best qualities of both packaging types. AeroFlexx chief technology officer Cedric D'Souza said: "This recognition is a significant achievement for AeroFlexx and provides the company with additional value creation by broadening our intellectual property portfolio. "We will continue to drive innovation in the plastic packaging industry to address both the consumer and brand's needs." The design of the AeroFlexx Pak is capable of decreasing the use of virgin plastic by up to 85% compared to traditional rigid bottles. This reduction is achieved by using up to 70% less plastic at the source. The AeroFlexx Pak's lightweight, flexible, and durable nature offers a preferred consumer experience and can significantly enhance brand value through its sustainability benefits, claims the company. AeroFlexx CEO Andrew Meyer said: "We are honoured to be awarded these patents. It demonstrates our unwavering commitment to providing a sustainable and differentiated liquid packaging solution to the marketplace. "By adopting the AeroFlexx Pak, companies can accelerate progress toward their ESG [environmental, social, and governance] goals and sustainability commitments." In January this year, AeroFlexx partnered with Chemipack, a Polish blending and filling company, to drive innovation in sustainable liquid packaging across Europe. "AeroFlexx secures patents for recyclable flexible packaging solution" was originally created and published by Packaging Gateway, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
7 days ago
- Business
- Yahoo
Cabka CFO Frank Roerink to step down by November
Netherlands-based packaging solutions provider Cabka has announced that its chief financial officer (CFO), Frank Roerink, will step down from his position by the end of November 2025. Roerink cited personal reasons for his departure and has committed to a six-month notice period to ensure a smooth transition. During his tenure, Cabka was listed at Euronext Amsterdam on 1 March 2022. The company said it has already begun the process of finding a suitable successor for Roerink and will make an announcement regarding the new CFO in due course. Cabka supervisory board chair Niek Hoek said: 'We understand and respect Frank's decision to step down as CFO of Cabka. We would like to express our gratitude for his leadership, professionalising the organisation, and his ability to maintain stability and continuity during turbulent times. We expect to provide an update on succession shortly.' Cabka is known for recycling hard-to-recycle plastic waste into reusable transport packaging such as pallets and large container solutions. Cabka's focus on creating construction and road safety products made entirely from post-consumer waste has positioned it as a pioneer in the industry, it claims. With an integrated approach that encompasses waste collection, recycling, and manufacturing, Cabka has demonstrated its capability to maximise returns by reintroducing recycled plastics into the production loop. The company continues to exploit the full value chain, from waste to end products, backed by its own innovation centre. In April 2025, Cabka reported revenue of €181.9m ($189.4m) in financial year 2024, ending 31 December, down 8% from €196.9m in 2023. "Cabka CFO Frank Roerink to step down by November" was originally created and published by Packaging Gateway, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
29-05-2025
- Business
- Yahoo
Packaging faces disruption from new market forces
The global packaging industry is undergoing significant transformation, driven by evolving consumer demands, regulatory changes, and technological advancements. A recent report by McKinsey & Company, titled "No Ordinary Disruption: Winning with New Models in Packaging 2030," outlines five key trends poised to reshape the sector over the next decade. The rapid growth of e-commerce is placing increased pressure on packaging systems. As online shopping becomes more prevalent, there is a heightened need for packaging solutions that ensure product protection during transit, optimize space, and meet sustainability criteria. This shift necessitates innovations in packaging design and materials to accommodate the unique challenges of e-commerce logistics. Environmental concerns and regulatory measures are pushing the packaging industry toward more sustainable practices. The European Union's Packaging and Packaging Waste Regulation (PPWR) aims to reduce packaging waste and promote recyclability. In response, companies are exploring biodegradable materials, reusable packaging systems, and designs that facilitate recycling. These efforts align with the broader goal of establishing a circular economy within the packaging sector. Advancements in digital technology are enabling smarter packaging solutions. The integration of QR codes, RFID tags, and IoT devices allows for real-time tracking, improved inventory management, and enhanced consumer engagement. These technologies also support sustainability by providing information on recycling and product origins, thereby fostering transparency and informed consumer choices. As the packaging industry navigates these transformative trends, companies are encouraged to invest in research and development, adapt to changing consumer preferences, and collaborate across the supply chain to remain competitive in a rapidly evolving market. "Packaging faces disruption from new market forces" was originally created and published by Packaging Gateway, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
28-05-2025
- Business
- Yahoo
Packaging faces disruption from new market forces
The global packaging industry is undergoing significant transformation, driven by evolving consumer demands, regulatory changes, and technological advancements. A recent report by McKinsey & Company, titled "No Ordinary Disruption: Winning with New Models in Packaging 2030," outlines five key trends poised to reshape the sector over the next decade. The rapid growth of e-commerce is placing increased pressure on packaging systems. As online shopping becomes more prevalent, there is a heightened need for packaging solutions that ensure product protection during transit, optimize space, and meet sustainability criteria. This shift necessitates innovations in packaging design and materials to accommodate the unique challenges of e-commerce logistics. Environmental concerns and regulatory measures are pushing the packaging industry toward more sustainable practices. The European Union's Packaging and Packaging Waste Regulation (PPWR) aims to reduce packaging waste and promote recyclability. In response, companies are exploring biodegradable materials, reusable packaging systems, and designs that facilitate recycling. These efforts align with the broader goal of establishing a circular economy within the packaging sector. Advancements in digital technology are enabling smarter packaging solutions. The integration of QR codes, RFID tags, and IoT devices allows for real-time tracking, improved inventory management, and enhanced consumer engagement. These technologies also support sustainability by providing information on recycling and product origins, thereby fostering transparency and informed consumer choices. As the packaging industry navigates these transformative trends, companies are encouraged to invest in research and development, adapt to changing consumer preferences, and collaborate across the supply chain to remain competitive in a rapidly evolving market. "Packaging faces disruption from new market forces" was originally created and published by Packaging Gateway, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
