Klöckner Pentaplast, a global leader in rigid plastic film and packaging solutions, is announcing results for its second fiscal quarter ended March 31, 2016.
Adjusted EBITDA grew to € 61.0 million, an increase of 2.5% (€ 1.5 million) compared to the prior Q2, and represents the highest quarterly adjusted EBITDA ever. Adjusted EBITDA as a percentage of net sales grew from 18.1% to 18.7%. LTM (last twelve months) adjusted EBITDA was € 218.2 million, which is also the highest level ever. Fiscal second quarter’s results also reflect the impact of the stronger US-Dollar.
Volumes were flat during the period. A change in mix within packaging business and the impact of lower raw material prices resulted in slightly lower revenues. Net sales decreased by 0.7% (€ 2.2 million) year-over-year to € 325.9 million.
Commenting on the results, Wayne M. Hewett, CEO of Klöckner Pentaplast, stated: “Our second quarter results confirm that we are on the right path and reflect continued strong execution by the team.”
