02.29.16
CCL Industries Inc. reported record fourth quarter and annual financial results for 2015.
Sales for the fourth quarter of 2015 increased 25.6% to $798.8 million, compared to $635.8 million for the fourth quarter of 2014, with 7.1% organic growth, 9.7% positive currency translation impact and 8.8% from the eight acquisitions completed since the third quarter of 2014.
Operating income for the fourth quarter of 2015 was $122.6 million, an increase of 44.2% compared to $85.0 million for the comparable quarter of 2014. Excluding the impact of currency translation operating income improved 34.4%. Net earnings improved 57.7% to $71.9 million for the 2015 fourth quarter compared to $45.6 million for the 2014 fourth quarter.
For the full year 2015, sales, operating income and net earnings improved 17.5%, 34.3% and 36.2% to $3,039.1 million, $496.6 million and $295.1 million, respectively, compared to 2014. Results for 2015 include results from six acquisitions completed since Jan. 1, 2015, delivering acquisition related sales growth for the period of 5.7%. Organic sales growth of 4.5% for 2015 drove firm profit improvement while foreign currency translation added $0.48 per share.
“Strong results for the fourth quarter capped a record year for CCL,” said Geoffrey T. Martin, president and CEO. “All three operating segments outperformed with gains broad based across the world’s key economic zones. For the first time, annual sales surpassed $3 billion and adjusted net earnings approached $300 million driving record $320 million free cash flow.
“We continued to execute our strategic plans making six acquisitions on top of solid organic sales growth for the year. We strengthened Avery’s ‘web-to-print’ capabilities with the acquisitions of pc/nametag and Mabel’s Labels and broadened the geographic footprint and materials science capabilities of CCL,” Martin added. “Design with the acquisition of Worldmark, specializing in labels for the electronics industry. We are now the largest label producer in China, adding six Worldmark facilities there to the existing CCL infrastructure.”
Sales for the fourth quarter of 2015 increased 25.6% to $798.8 million, compared to $635.8 million for the fourth quarter of 2014, with 7.1% organic growth, 9.7% positive currency translation impact and 8.8% from the eight acquisitions completed since the third quarter of 2014.
Operating income for the fourth quarter of 2015 was $122.6 million, an increase of 44.2% compared to $85.0 million for the comparable quarter of 2014. Excluding the impact of currency translation operating income improved 34.4%. Net earnings improved 57.7% to $71.9 million for the 2015 fourth quarter compared to $45.6 million for the 2014 fourth quarter.
For the full year 2015, sales, operating income and net earnings improved 17.5%, 34.3% and 36.2% to $3,039.1 million, $496.6 million and $295.1 million, respectively, compared to 2014. Results for 2015 include results from six acquisitions completed since Jan. 1, 2015, delivering acquisition related sales growth for the period of 5.7%. Organic sales growth of 4.5% for 2015 drove firm profit improvement while foreign currency translation added $0.48 per share.
“Strong results for the fourth quarter capped a record year for CCL,” said Geoffrey T. Martin, president and CEO. “All three operating segments outperformed with gains broad based across the world’s key economic zones. For the first time, annual sales surpassed $3 billion and adjusted net earnings approached $300 million driving record $320 million free cash flow.
“We continued to execute our strategic plans making six acquisitions on top of solid organic sales growth for the year. We strengthened Avery’s ‘web-to-print’ capabilities with the acquisitions of pc/nametag and Mabel’s Labels and broadened the geographic footprint and materials science capabilities of CCL,” Martin added. “Design with the acquisition of Worldmark, specializing in labels for the electronics industry. We are now the largest label producer in China, adding six Worldmark facilities there to the existing CCL infrastructure.”