Aptar Reports Second Quarter Results; Announces Binding Offer to Acquire CSP Technologies

Aptar Reports Second Quarter Results; Announces Binding Offer to Acquire CSP Technologies, a Leader in Active Packaging Technology

Crystal Lake, Illinois, July 26, 2018 — AptarGroup, Inc. (NYSE:ATR) today announced second quarter operating results along with its binding offer to acquire CSP Technologies Parent S.A. (CSP Technologies), a leader in active packaging technology based on proprietary material science expertise.

Second Quarter 2018 Summary

  • Reported sales increased 15%, including the positive effect of currency rates (+4%)
  • Core sales, excluding currency and acquisition effects, rose 11% driven by growth in each business segment, end market and geographic region
  • Reported net income (8% of net sales) decreased 14% to $56 million due to restructuring expenses of $18 million and costs related to the Reboul and CSP Technologies acquisitions of $3 million
  • Adjusted EBITDA (20% of net sales), which excludes the restructuring and acquisition expenses, increased 14% to $141 million
  • Reported earnings per share, including restructuring and acquisitions expenses, with an effective tax rate of 26%, were $0.86 compared to $1.01 reported in the prior year with an effective tax rate of 18% (prior year included certain tax settlements and higher equity compensation deductions)
  • Adjusted earnings per share, which exclude restructuring and acquisition expenses, increased 4% to $1.09, compared to prior year currency adjusted earnings per share of $1.05 with an effective tax rate of 18%
  • Prior year earnings per share would have been $0.10 lower had our current effective tax rate been applied to prior year earnings
  • Binding offer to acquire CSP Technologies, a leader in active packaging technology, for an enterprise value of $555 million
  • Business transformation progressing as planned

Download the full press release.