03.01.22
CCL Industries Inc. reported fourth quarter and annual financial results for 2021.
Sales for the fourth quarter of 2021 increased 10.2% to $1,488.8 million, compared to $1,350.6 million for the fourth quarter of 2020, with organic growth of 12.8% and acquisition-related growth of 1.8% partially offset by 4.4% negative impact from foreign currency translation.
Operating income for the fourth quarter of 2021 decreased by 2.1% to $208.8 million compared to $213.3 million for the comparable quarter of 2020.
For the 2021 year, sales, operating income and net earnings improved 9.4%, 8.2% and 13.1% to $5.7 billion, $891.3 million and $599.1 million, respectively, compared to Dec. 31, 2020.
The year ending Dec. 31, 2021 included results from eighteen acquisitions completed since January 1, 2020, delivering acquisition related sales growth for the period of 2%, coupled with organic sales growth of 11.8% partially offset by 4.4% negative impact from foreign currency translation. Foreign currency translation had a negative impact of $0.15 per share.
“2021 marked our second consecutive year of delivering record results in the midst of a global pandemic as strong growth in sales and adjusted basic earnings per share generated solid free cash flow,” Geoffrey T. Martin, president and CEO, said. “This speaks to the resiliency and diversity of our end markets plus the focus and dedication of our amazing people. These results come as the company faces supply chain disruptions and inflationary issues the likes of which we have rarely seen in our long history.”
“Substantial organic growth in MAS, and especially ALS product lines fueled by RFID and coupled with a better-than-expected contribution from the recently acquired Uniter, resulted in very strong results at Checkpoint despite higher freight and component inflation from internal supply plants in China,” Martin noted.
“The company finished the year with a strong balance sheet and excellent liquidity, despite investing $234.4 million in nine acquisitions and $306.9 million in capital expenditure, net of disposals,” Martin concluded.
Sales for the fourth quarter of 2021 increased 10.2% to $1,488.8 million, compared to $1,350.6 million for the fourth quarter of 2020, with organic growth of 12.8% and acquisition-related growth of 1.8% partially offset by 4.4% negative impact from foreign currency translation.
Operating income for the fourth quarter of 2021 decreased by 2.1% to $208.8 million compared to $213.3 million for the comparable quarter of 2020.
For the 2021 year, sales, operating income and net earnings improved 9.4%, 8.2% and 13.1% to $5.7 billion, $891.3 million and $599.1 million, respectively, compared to Dec. 31, 2020.
The year ending Dec. 31, 2021 included results from eighteen acquisitions completed since January 1, 2020, delivering acquisition related sales growth for the period of 2%, coupled with organic sales growth of 11.8% partially offset by 4.4% negative impact from foreign currency translation. Foreign currency translation had a negative impact of $0.15 per share.
“2021 marked our second consecutive year of delivering record results in the midst of a global pandemic as strong growth in sales and adjusted basic earnings per share generated solid free cash flow,” Geoffrey T. Martin, president and CEO, said. “This speaks to the resiliency and diversity of our end markets plus the focus and dedication of our amazing people. These results come as the company faces supply chain disruptions and inflationary issues the likes of which we have rarely seen in our long history.”
“Substantial organic growth in MAS, and especially ALS product lines fueled by RFID and coupled with a better-than-expected contribution from the recently acquired Uniter, resulted in very strong results at Checkpoint despite higher freight and component inflation from internal supply plants in China,” Martin noted.
“The company finished the year with a strong balance sheet and excellent liquidity, despite investing $234.4 million in nine acquisitions and $306.9 million in capital expenditure, net of disposals,” Martin concluded.