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Coveris Reports 3Q 2015 Financial Results

Recorded third quarter 2015 net sales of $677 million.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

Coveris Holdings S.A. reported third quarter 2015 net sales of $677 million. Net sales for the third quarter of 2014 were $687 million. Excluding the impact of foreign exchange, pass-through of lower resin costs, and acquisitions, net sales for the third quarter of 2015 were up 2.5% from 2014. Adjusted EBITDA for the third quarter was $84 million. Excluding currency impacts, adjusted EBITDA was $92 million, compared to $82 million in 2014.
 
“Coveris reported solid operational and financial results for the third quarter,” said Gary Masse, president and CEO. “Using the tools and processes of the Coveris Business System, we have made progress on pricing, productivity and organic growth plans.”

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