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AptarGroup Achieves Record Quarterly Results; Plans To Increase Capacity For Aptar Stelmi And Also Expand Aptar’s Latin American Presence

Stocks in this article: ATR

AptarGroup, Inc. (NYSE:ATR) today reported record quarterly sales and achieved record earnings per share when charges related to its European Operations Optimization plan are excluded. AptarGroup also announced it is increasing capacity at its Aptar Stelmi facilities in Europe, and establishing a new Aptar manufacturing facility in Colombia to serve the Andean region.

Second Quarter 2013 Summary

  • Reported sales increased 11% from the prior year to a record $641 million (core sales excluding currency effects and the Aptar Stelmi acquisition increased 4%)
  • Reported earnings per share increased to $0.73 from $0.61 in the prior year
  • Earnings per share excluding charges related to the European Operations Optimization (EOO) plan reached an all-time quarterly high of $0.77, up $0.11 or 17% compared to $0.66 in the prior year when costs associated with the Stelmi acquisition are excluded from prior year results
  • Aptar Stelmi contributed $0.07 to earnings per share
  • Pharma and Food + Beverage segments reported strong sales and profit growth
  • Continued softness in the U.S. hampered Beauty + Home results
  • Aptar Stelmi capacity to be increased
  • Plans were announced for a new Aptar facility to serve the Andean region

SECOND QUARTER RESULTS

For the quarter ended June 30, 2013, reported sales increased 11% to $641 million from $578 million a year ago. Aptar Stelmi, which was acquired in July of 2012, contributed approximately $39 million or 7% to the quarterly sales growth. Changes in currency exchange rates did not impact consolidated sales compared to the prior year.

Second Quarter Segment Sales Analysis

(Change Over Prior Year)

 
     

Beauty +Home

      Pharma      

Food +Beverage

     

TotalAptarGroup

Product Sales (including tooling) 2%       8%       10%       4%
Currency Effects 1% 1%
Acquisitions         29%               7%
Total Reported Growth 2%       38%       11%       11%
 

Commenting on the quarter, Stephen Hagge, President and CEO, said, “We are pleased to report record quarterly sales. End market diversity continues to be a key strength of our business. Our Pharma segment benefited from increased demand from both the consumer health care and prescription drug markets while our Food + Beverage segment also experienced increased sales to each of its markets. In our Beauty + Home segment, increased demand from the personal care market was partially offset by decreased demand from the beauty and home care markets. Also, Aptar Stelmi continued to perform well.”

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