*Reported Results: For the full year 2020, the company recorded earnings from continuing operations of $1.57 per share (diluted), compared with a loss of $2.56 per share in 2019. Current year earnings from continuing operations before income taxes were $353 million, compared to a loss of $261 million in the prior year. Both periods included items management considers not representative of ongoing operations. Cash provided by continuing operating activities was $457 million in 2020, compared with $408 million in 2019. *Segment Operating Profit1: Full year 2020 segment operating profit was $678 million compared to $856 million in 2019. Higher selling prices more than compensated for cost inflation, but were more than offset by the impact of 4 percent lower sales volume and approximately 7.5 percent lower production volume due to the pandemic. Turnaround initiatives, strong operating performance and cost control measures partially offset the impact of lower production levels. *Cash Flows: Cash provided by continuing operating activities was $457 million in 2020, compared with $408 million in 2019. 2020 free cash flow1 was $146 million which exceeded the company’s guidance of more than $100 million free cash flow in 2020.

Sonoco announces that the high barrier paper-based structure, EnviroFlex® Paper Ultimate (ULT) 1.0, has received How2Recycle® pre-qualification and has met all requirements of the Fibre Box Association’s Voluntary Standard for Repulping and Recycling. This pre-qualification comes as a result of Sonoco’s ongoing efforts to develop innovative, sustainable packaging solutions. EnviroFlex Paper ULT 1.0 is a superior oxygen, moisture, and grease barrier packaging solution available in various formats, including rollstock, heat/cold seal, sachets, and pre-made pouches. EnviroFlex Paper ULT 1.0 provides exceptional protection and preservation for perishable items, such as baked goods, confections, pet treats, salty snacks and powdered beverages, while being curbside recyclable. Sonoco understands the importance of providing safe and non-toxic materials in convenient formats. Therefore, the company has gone above and beyond to develop EnviroFlex Paper ULT 1.0 and a host of other paper-based structures without the use of chemicals of concern, such as PFAS and PVDC.

Metsä Board, the leading European producer of premium fresh fibre paperboards and part of Metsä Group, has, once again, achieved the highest Platinum level in EcoVadis’ sustainability assessment. The company has achieved the highest level or rating every year since 2017. Metsä Board received high scores in each of the four themes assessed, and with a total score of 87/100 is among the highest 1% of companies assessed in the category of paper, paperboard and packaging manufacturers. The overall score remained at the same high level as last year, even though the assessment included several new requirements this year. In the environmental evaluation, the company scored 100/100 for the second year in a row.