Strong First Quarter Performance
Net sales of over $7.6 billion and adjusted EBITDA of $1.252 billion with a margin of 16.4%, indicating a significant improvement compared to the same period last year.
Progress in Synergy Program
On track to deliver $400 million in synergies by the end of 2025, with $80 million recognized in Q1. Additional opportunities of at least $400 million identified.
North American Margin Improvement
North America operations delivered net sales of $4.7 billion with an adjusted EBITDA of $785 million and a margin of 16.8% due to higher selling prices and reduced SG&A costs.
Cost Management and Investment
Authorized investment in 25 new converting machines to improve efficiency and reliability, with quick-win projects expected to deliver $70 million in additional EBITDA.
Improved Integration Levels
Closure of two mills improves integration levels to 89% for container board and 71% for paper board.