Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/html/wp-includes/functions.php on line 6260 Coveris Reports 3Q 2016 Financial Results - Ink World Magazine

What are you searching for?

Sign in
Industry News, Printers News

Coveris Reports 3Q 2016 Financial Results

Operating income of $22.8 million for the quarter is up 31% year-to-date.

Author Image

By: DAVID SAVASTANO

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

Coveris Holdings S.A. reported third quarter 2016 net sales of $616 million, compared to net sales for the third quarter of 2015 of $677 million. Adjusted EBITDA for the third quarter was $77 million, compared to $83 million in the third quarter of 2015. On a year-to-date constant currency basis, net sales for 2016 of $1.9 billion is $17 million higher than the previous year.
 
Adjusted EBITDA on a year-to-date basis of $243 million, is approximately 1% above the prior year. On a constant currency basis, adjusted EBITDA is 4% ahead of the prior year.
 
“We continue to follow our strategy and implementation of our key initiatives. While we saw many key metrics improve, our volumes were lower than planned,” said Gary Masse, president and CEO. “We are on a continuous improvement journey and we remain very optimistic about the company we are building.”

Add us as a preferred source on Google

Get the latest Ink World magazine news, insights and analysis in your Google Search and AI experiences.

Add Ink World magazine as a preferred source on Google (opens in a new tab)

Keep Up With Our Content. Subscribe To Ink World magazine Newsletters