Discrete earnings growth in the fourth quarter of 2024

CCL Industries Inc, a global leader in labeling, security and packaging solutions, has reported fourth quarter and 2024 financial results.

In the fourth quarter of 2024, sales increased 9.0% to $1,812.5 million, compared to $1,662.5 million in the same period of 2023, driven by organic growth of 6.8% and a 1.4% contribution from acquisitions. Operating income reached $267.9 million, an increase of 5.1%.

Net earnings were $179.8 million, compared to $38.8 million in 2023.

CCL segment: Reported organic sales growth of 5.4% in the fourth quarter, with good results in Home & Personal Care and aluminum products. Avery experienced a 1.0% decline in sales, while Checkpoint grew 13.6% thanks to its strong performance in MAS. Innovia had a 23.8% increase in sales due to demand for label materials.

Despite external challenges, such as geopolitical uncertainty, the company maintains a solid financial position and anticipates sustained growth. The Board of Directors approved a 10.3% increase in the quarterly dividend for 2025.

Highlights:

• CCL Segment Sales: Increased 8.2% to $1,116.2 million.
• Growth in Asia-Pacific: Double-digit increase in regional sales.
• Avery: Sales decreased 1.0%, with an organic decrease of 2.0%.

CCL remains well positioned to fund its global expansion in 2025 with strong expected cash flow.