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WestRock net sales increase to $4.06bn in Q4

PKBR Staff Writer Published 06 November 2017

WestRock has reportd that its net sales revenue by $448.9m to $4.06bn in the fourth quarter of 2017, compared to $3.61bn the same period last year.

The American corrugated packaging company says that the 12.4% growth was mainly due to the increased corrugated packaging segment sales by $235m and the increased consumer packaging segment sales by $245m.

WestRock revealed that the increase in consumer packaging segment sales in the quarter that ended on 30 September 2017 was primarily because of contribution made by the Multi Packaging Solutions International (MPS) acquisition.

The sales in the segment were offset partially by factors like the absence of net sales from Home, Health and Beauty (HH&B) in the current year quarter. This was due to the divestiture of HH&B in April which generated net after-tax proceeds of nearly $1bn.

Apart from that, the company’s land and development segment sales came down by $25m.

In the fiscal year that ended 30 September 2017, the differentiated paper and packaging solutions provider earned $2.77 per diluted share and $2.62 of adjusted earnings per diluted share. WestRock in this reported period, generated net cash provided by $1.90bn of operating activities and $1.22bn of adjusted free cash flow.

The company made a total of five acquisitions in FY 2017 which it says had taken its strategy forward of offering differentiated, high value-added solutions to its customers while growing its footprint in attractive end markets.

WestRock CEO Steve Voorhees said: “I am pleased with the success the WestRock team achieved in fiscal 2017, with strong productivity and growth in cash flow.

“While we experienced a challenging cost environment, our team met the challenge and delivered on our objectives across the board, increasing value for customers, employees and stockholders. We are well positioned for a successful fiscal 2018.”