02.06.25
Magnera, which was formed following the merger of Berry Global Group, Inc.’s nonwovens and hygiene films business with Glatfelter Corporation on November 4, 2024, reported net sales of $702 million in the December 2024 quarter compared to $519 million in the December 2023 quarter.
The net sales increase included revenue from the merger, which occurred mid quarter on November 4, of $186 million and increased selling prices of $11 million, which were partially offset by a $14 million unfavorable impact from foreign currency changes.
Net sales of the Americas segment were $420 million in the December 2024 quarter compared to $348 million in the December 2023 quarter. The net sales increase in the Americas segment included revenue from the merger of $70 million and increased selling prices of $12 million which were partially offset by a $13 million unfavorable impact from foreign currency changes.
Net sales of the Rest of the World segment were $282 million in the December 2024 quarter compared to $171 million in the December 2023 quarter. The net sales increase in the Rest of World segment included revenue from the merger of $116 million.
Magnera’s CEO Curt Begle says, “I am honored to be leading Magnera, a global nonwovens leader, with a broad platform of product solutions for the specialty materials industry. Our diverse business and valued customers are proudly supported by more than 9,000 employees across 46 global manufacturing facilities. We expect to build on our expanded experience to approach every challenge with a proactive and results-driven mindset. Magnera's commitment to innovation, while delivering unique solutions to solve end users’ problems, enables the trusted partnership we enjoy with our customers.
“Magnera's solid fiscal Q1 results were better than prior year despite currency headwinds and reflect our ability to remain focused on day-to-day business execution, while managing the post-transaction integration activities. Our financial profile remains strong and will continue to be enhanced as we realize synergies and prioritize an improved product portfolio. We remain committed to increasing our free cash flow to support deleveraging and increase shareholder value.”
The net sales increase included revenue from the merger, which occurred mid quarter on November 4, of $186 million and increased selling prices of $11 million, which were partially offset by a $14 million unfavorable impact from foreign currency changes.
Net sales of the Americas segment were $420 million in the December 2024 quarter compared to $348 million in the December 2023 quarter. The net sales increase in the Americas segment included revenue from the merger of $70 million and increased selling prices of $12 million which were partially offset by a $13 million unfavorable impact from foreign currency changes.
Net sales of the Rest of the World segment were $282 million in the December 2024 quarter compared to $171 million in the December 2023 quarter. The net sales increase in the Rest of World segment included revenue from the merger of $116 million.
Magnera’s CEO Curt Begle says, “I am honored to be leading Magnera, a global nonwovens leader, with a broad platform of product solutions for the specialty materials industry. Our diverse business and valued customers are proudly supported by more than 9,000 employees across 46 global manufacturing facilities. We expect to build on our expanded experience to approach every challenge with a proactive and results-driven mindset. Magnera's commitment to innovation, while delivering unique solutions to solve end users’ problems, enables the trusted partnership we enjoy with our customers.
“Magnera's solid fiscal Q1 results were better than prior year despite currency headwinds and reflect our ability to remain focused on day-to-day business execution, while managing the post-transaction integration activities. Our financial profile remains strong and will continue to be enhanced as we realize synergies and prioritize an improved product portfolio. We remain committed to increasing our free cash flow to support deleveraging and increase shareholder value.”
