Leading fiber-based packaging provider Graphic Packaging International has registered US$9.44 billion in net sales for fiscal 2022 (FY22), up by 32% and a strong Q4 2022 sales.
Graphic Packaging has reported Q4 2022 net income of US$156 million, or US$0.50 per share, based on 309 million weighted average diluted shares.
This compares to Q4 2021 net income of US$39 million, or US$0.13 per share, based on 309 million weighted average diluted shares.
Net sales increased 20% to US$2,386 million in Q4 2022, compared to US$1,988 million in the prior year period.
The US$398 million increase was driven by US$137 million of favorable volume/mix and US$298 million in positive pricing, partially offset by US$37 million in unfavorable foreign exchange.
The company’s EBITDA for Q4 2022 was US$408 million, an increase of US$190 million from the fourth quarter of 2021.
After adjusting for charges associated with business combinations and other special charges, Adjusted EBITDA increased US$128 million to US$413 million in Q4 2022 from US$285 million in Q4 2021.
The company’s net sales increased 32% to US$9.44 billion for the full year 2022, compared to US$7.15 billion in the prior year.
EBITDA for the full year 2022 was US$1.46 billion, an increase of US$563 million from the full year 2021.
After adjusting for charges associated with business combinations and other special charges, Adjusted EBITDA increased 52% to US$1.60 billion in the full year 2022 from US$105 billion in the full year 2021.
Full year 2022 net income was US$522 million versus US$204 million in the prior year. Adjusted net income for the full year 2022 was US$722 million, or US$2.33 per diluted share.
This compares to adjusted net income for the full year of 2021 of US$390 million or US$1.31 per diluted share.
Graphic Packaging president and CEO Michael Doss said: “2022 was an excellent year of performance and execution by our global team. Financial results improved materially and are on pace to meet our Vision 2025 goals.
“Our continued innovation in fiber-based consumer packaging solutions drove a third consecutive year of net organic sales growth at or above the high-end of our targeted range.
“Our large acquisition in Europe has been integrated and is providing growth opportunities in new consumer markets while meeting our financial and synergy expectations.”
Based in Atlanta, the company is committed to providing consumer packaging that makes a world of difference.