Klöckner Pentaplast, a global leader in rigid plastic film and packaging solutions, is announcing results for its third fiscal quarter ended June 30, 2016.
Adjusted EBITDA grew to € 58.0 million, an increase of 5.4% (€ 3.0 million) compared to the prior Q3. Adjusted EBITDA as a percentage of net sales grew from 16.3% to 17.8%. The LTM (last twelve months) adjusted EBITDA was € 221.2 million, which was the highest level ever.
Net sales decreased by 3.3% (€ 11.2 million) year-over-year to € 326.7 million driven by the impact of weaker foreign currencies. Adjusted for FX, net sales increased 1.5% compared to the prior Q3.
Commenting on the results, Wayne M. Hewett, CEO of Klöckner Pentaplast, stated: “Q3 was another strong quarter and we continue to execute well in a dynamic environment.”