Sonoco has issued its 2021 Annual Report to Shareholders and announced the date for its 2022 Annual General Meeting. The annual report, entitled Better Than Ever details the Company’s 2021 financial results, its strategy and the complementary $1.35 billion acquisition of Ball Metalpack, a leading manufacturer of sustainable tin-plate food and aerosol containers, along with closures and packaging components. “Sonoco’s purpose is Better Packaging. Better Life. This means we are committed to creating sustainable packaging solutions that help build our customers brands, enhance the quality of their products and improve the quality of life for our stakeholders around the world,” Howard Coker, Sonoco President and Chief Executive Officer, wrote to shareholders. “We also believe our value-creation strategy – to be the benchmark company for yield and stability in the packaging industry – will make Sonoco Better than Ever.”

For the third quarter, earnings from continuing operations were $0.77 per share (diluted), up 13 percent compared with $0.68 per share in 2016, primarily driven by improved segment operating profit in Europe and Latin America, and lower interest and tax expense. Net sales were $1.8 billion, an increase of almost 5 percent compared to the prior year third quarter, primarily due to favorable currency translation. Price increased 1 percent on a global basis, while shipments were on par with the prior year. Earnings from continuing operations before income taxes were $172 million, an increase of 12 percent compared with the same period in 2016. Segment operating profit of reportable segments[1] for the third quarter of 2017 was $260 million, an increase of 10 percent compared with prior year. Notable gains were reported in Europe and Latin America which more than compensated for external weakness in North America. Europe benefited from a favorable sales mix, a currency tailwind and the receipt of an energy credit, as expected. The increase in Latin America was driven by a 7 percent increase in shipments including double-digit gains in Brazil and a reduction in total systems cost. Click Read More below for additional information.

Key Points *Revenue growth of 18% *EBITDA growth of 13% to €1,702 million with an EBITDA margin of 16.8% *Corrugated growth of 8% *ROCE of 16% *Acquisition in Italy ensuring continued security of supply for our customers *Ongoing investment programme meeting customers’ needs for innovative and sustainable packaging *Science Based Targets initiative (‘SBTi’) approval in line with the Paris Agreement