Packaging Corporation of America reported fourth quarter 2024 net income of $221 million, or $2.45 per share, and net income of $222 million, or $2.47 per share, excluding special items. Fourth quarter net sales were $2.1 billion in 2024 and $1.9 billion in 2023. Full year 2024 net income was $805 million, or $8.93 per share, and net income of $814 million, or $9.04 per share, excluding special items. Full year net sales were $8.4 billion in 2024 and $7.8 billion in 2023. Commenting on reported results, Mark W. Kowlzan, Chairman and CEO, said, “As we have seen throughout the year, demand in our Packaging segment during the quarter remained very strong. Our corrugated products plants delivered record fourth quarter total shipments and an all-time record shipments per day. The plants also set new annual records for total shipments and shipments per day. Excellent operations throughout our mill containerboard system set new quarterly and annual production records as well. This allowed us to meet our customer’s demand needs in a timely manner as well as achieve year-end inventory targets ahead of the mill outages scheduled for the first half of 2025. Although seasonally slower, volume and price/mix in the Paper segment were above last year’s levels. Throughout the Company, our employees together with the benefits of our capital spending program continued to do a great job to lessen the inflationary impact across most of our cost structure.”

Billerud has agreed with the investment company Mimir Group about a divestment of Managed Packaging, which offers packaging solutions to global brand owners. The transaction is expected to be completed during August 2023. The intention to divest the business unit Managed Packaging is a consequence of Billerud’s focus on packaging materials, which means a reduced strategic importance of service offerings. The sale will reduce complexity and positively impact Billerud's EBITDA margin.

This impressive growth is being driven, in part, by a demand for premium products – a category in which single malt whisky, and Glenfiddich undoubtedly belongs. Premiumisation has led many global brands to leverage packaging as a truly unique, sophisticated finishing touch to complement their products. Metal packaging is an ideal option to achieve this goal, offering a great deal of design and decoration freedom to create flourishes and incorporate fine details that add an extra level of class. Glenfiddich partnered with Crown to create two limited edition gift tins for its 12- and 15-year-old single malt whiskies. The format was chosen for its premium feel, and superior sustainable credentials. The metal used to create the tins is infinitely recyclable, meaning it can go through the recycling process over and over again, with no loss of physical properties. Click Read More below for additional information.