![]() We anticipate the industry wide supply chain challenges currently experienced in North America will improve through the second half of fiscal 2022.Ĭonsistent with guidance provided in August 2021, for the twelve month period ending June 30, 2022, the Company expects: This was partly offset by higher earnings in Latin America. Combined with further inflation and shortages for key raw materials, the business experienced operating inefficiencies, higher costs and constrained sales. Demand remained elevated and increasingly volatile in the beverage segment while the business continued to operate at full capacity and with historically low levels of inventory. In Latin America, volumes grew at double digit rates with higher volumes in Argentina, Brazil and Colombia.Īdjusted EBIT of $62 million was adversely impacted by unprecedented industry wide supply chain complexity and disruptions in North America. Specialty container volumes were lower than the prior year which benefited from strong volumes in the home and personal care category. In North America, beverage volumes were marginally ahead of the prior year with hot fill container volumes down 1% against a strong comparative period. Overall volumes were 1% higher than the prior period and price/mix had no material impact on net sales. On a comparable constant currency basis, net sales were 1% higher than the prior period. This was partly offset by lower cheese, coffee and home and personal care volumes. In North America, volume growth in the low single digit range was mainly driven by strength in the medical, condiments, liquid beverage, and confectionary end markets. Volumes were slightly lower as raw material shortages had a dampening effect on growth in some categories. ![]() Favorable price/mix of approximately 2% reflects a continued focus on the long-term strategy of managing mix and driving growth in higher value segments. ![]() ![]() Net sales for the Flexibles segment grew 10% on a reported basis, with 9% driven by price increases of approximately $210 million related to the pass through of higher raw material costs. (1) Comparable constant currency ∆% for Net sales excludes a 9% favorable impact from the pass through of raw material costs, a 1% unfavorable impact from items affecting comparability and a 1% favorable currency impact. ![]()
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