*Revenue growth of 11% *EBITDA of €781 million with an EBITDA margin of 16.7% *Corrugated growth of over 10% and over 9% versus 2020 and 2019 respectively *Accelerating investment plans to meet customer needs and capitalise on growth *Agreement to acquire 600,000 tonne recycled containerboard mill *Strong and progressive corrugated price recovery offsetting significant input cost increases *Interim dividend increased by 5% to 29.3 cent per share. Tony Smurfit, Group CEO, commented: “I am pleased to report a strong first half performance with revenue growth of 11%, EBITDA of €781 million and an EBITDA margin of 16.7%. Growth in corrugated was over 10% against the same period in 2020 and over 9% on 2019 and we continue to see strong demand for our core products.

The four coaters for the white cardboard and folding boxboard production line have a design speed of 1,000 m/min and a maximum web-width of 5,660 mm. They feature a jet nozzle to apply the coating color to the paper web. Dispensing methods can be either bent blade, stiff blade or doctor blade. The advanced nozzle geometry ensures uniform application of the coating color to the paper web, even at high speeds and high viscosities or solid contents. The four PrimeCoat Jet coaters are of very compact design, taking up very little space and providing perfect access for operation and maintenance. They enable a large operating window regarding coating weight and viscosity and can be used for pre-coating, middle- or final top-coating. The nozzle beam can be opened easily, thus reducing cleaning time and extending cleaning intervals. The redesign of the color feed system with optimized flow guidance also makes a significant contribution to this. Dead zones and the resulting color deposits are significantly reduced.

First Quarter Highlights *First quarter 2022 net sales were a record $1.77 billion, compared with $1.35 billion in the same period in 2021. *First quarter 2022 GAAP earnings per diluted share were $1.17, compared with $0.71 in the same period in 2021. *Base net income attributable to Sonoco (base earnings) for the first quarter 2022 was a record $1.85 per diluted share, compared with $1.00 per diluted share in the same period of 2021. 2021 base results throughout the release have been revised to conform with the Company’s current Base Earnings definition which excludes amortization of acquisition intangibles. The Company recently provided updated first quarter guidance of $1.70 to $1.80 per diluted share. (See base earnings definition, explanation and reconciliation to GAAP earnings later in this release.) *Cash flow from operations was $1.1 million in the first quarter of 2022, compared to $138.7 million in the same period of 2021.