Acquisitions have positive effect on Constantia results

Constantia Flexibles saw sales revenues grow 4.6 percent in the first three quarters of 2013.

Constantia reports bump from acquisitions

Excluding the acquisitions made in 2013, namely Globalpack, Spear and Parikh Packaging, Constantia Flexibles increased its sales revenue from €991.5m (US$1.4bn) in the first nine months of 2012 to just over €1bn (US$1.4bn) in 2013.

Adjusted EBITDA, excluding the impact of acquisitions, increased by 8.2 percent from €143.4m (US$196m) in the first nine months of 2012 to €155.1m (US$212m) in the first nine months of 2013.

Including the acquisitions made in 2013, sales increased by 24.4 percent to €1.2bn in the first nine months of the year. Adjusted EBITDA improved by 22.2 percent to €175.3m.

Net debt was €438.9m at the end of the third quarter 2013. This figure includes an adjustment of the price for the Globalpack acquisition of €63.6m. The payment to Constantia Flexibles is due in December.

The increase of net debt by €138.3m compared to December 31, 2012 is mainly driven by the acquisitions made this year, Constantia Flexibles said.

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