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Corporate
Constantia Packaging is happy with first half of 2008
Constantia Packaging, a leading Austrian industrial corporation, recorded strong growth across all business segments in the first half of 2008. Along with successful acquisitions and divestments in the first two quarters of 2008, the completion of the AMAG acquisition in the fourth quarter of 2007 was among the main growth drivers. AMAG is a leading European supplier of specialty premium aluminum products.
First-half sales rose to €1,085.8 million, up 60% from €680.4 million in
2007. EBITDA growth outpaced that of sales, rising by 68% from €93.2
million to €156.4 million. The first-half EBITDA margin improved from
13.7% to 14.4%. Operating income (EBIT) totaled €100.0 million, up 68%
from €59.5 million in the first half of 2007. The operating margin stood at
9.2%, up from 8.7% in the first six months of the previous year. Pretax
income (EBT) amounted to €77.9 million, compared with €54.3 million in
the first half of 2007. Consolidated net income (excluding minority
interests) totaled €46.3 million, up from €30.5 million.
“We are focusing on markets where we expect steady growth in demand
for our products thanks to demographic trends and rising living standards,”
commented Hanno M. Bästlein, the Chief Executive Officer of Constantia
Packaging AG. For the full year 2008, Constantia Packaging AG expects
the Group to record significant sales and earnings gains in markets that
are stabilizing at a high level.
