Tetra Pak and Poka are pleased to announce the launch of a new strategic collaboration that brings together the expertise, technology, and best practices of Tetra Pak, a leader in the food & beverage packaging industry, with the power of Poka, the most comprehensive connected factory worker platform. This collaboration will empower workers in food production with the tools and training needed to accelerate zero waste processes in food manufacturing plants. It’s the first global and scalable connected workforce service that Tetra Pak will roll out as part of its new training and support solution. According to the UN Sustainable Development Goal 12, a range of entry points are required for promoting responsible consumption and production, and this can be achieved by producing more with less, increasing resource efficiency and promoting sustainable practices. Poka has helped manufacturers reduce equipment downtime by 5.9%, increase in worker productivity by 18% and decrease quality issues by 64%. By equipping front line staff with the most up to date information they need to make fast decisions, manufacturers can maintain high standards of quality and food safety whilst minimising waste in the form of product, time, or cost.

Net sales in the first quarter were $2,974 million compared to $3,162 million in the first quarter of 2022 reflecting higher beverage can volumes in Americas Beverage, offset by lower volumes across most other businesses, the pass through of approximately $100 million in lower steel and aluminum costs and unfavorable foreign currency translation of $36 million. Income from operations was $269 million in the first quarter compared to $344 million in the first quarter of 2022. Segment income in the first quarter of 2023 was $320 million compared to $383 million in the prior year first quarter as benefits from the contractual recovery of prior years' inflationary cost increases in European Beverage and cost reduction initiatives in Transit Packaging were offset by $60 million of year over year inventory impact of steel repricing in the Other segment and lower volumes.

At EUR 1,903.5 million, the Group's consolidated sales almost reached the previous year's level (1-3Q 2019: EUR 1,924.3 million). At EUR 169.3 million, the operating result was 13.4% or EUR 26.3 million below the previous year's figure (1-3Q 2019: EUR 195.6 million). This includes one-time expenses of EUR 57.5 million from adjustments necessary for market and structural reasons as well as the termination agreement with the former CEO. Of this, EUR 38.5 million are attributable to the cartonboard division and EUR 19.0 million to the packaging division. As a result, depreciation rose from EUR 101.6 million to EUR 137.8 million. The Group's operating margin was 8.9% (1-3Q 2019: 10.2%).