Rexam Year End Results 2006

Rexam, the global consumer packaging company and the world’s leading beverage can maker, announces its audited results for the year to 31 December 2006.

Highlights - Strong sales growth: 17% from ongoing operations including 10% from existing businesses - Organic sales growth in beverage cans led by market share gains in the US and strong market demand in Europe and South America - Profit growth offset by unprecedented rise in input costs - Efficiency savings of £32m - Strong cash flow performance - Increase of more than 20% in 2006 capex – significant further spend in 2007 to fuel future profit growth Commenting on the 2006 results, Rolf Börjesson, Rexam’s Chairman, said: “After many years of sustained profit growth, external forces conspired to create a challenging 2006 for us, but swift and decisive management action enabled us to deliver a resilient performance.

In 2007 we will deliver price increases, a more favourable product mix in Beverage Cans and good organic profit growth in Plastic Packaging. However, the pressure of the continuing high aluminium and other input costs, together with a weaker US dollar, are likely to counteract any progress in 2007, with the impact of the input costs expected to be most severe in the earlier part of the year.

2007 will be a year of significant capital investment by the Group for the medium and long term in facilities, processes and talent to underpin the platform for our next chapter of profitable growth, and we expect to see material benefits from these investments starting in 2008.”

600450 Rexam Year End Results 2006 glassonweb.com
Date: 21 February 2007
Source: Rexam

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