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Sealed Air’s protective packaging segment reports decline in Q2 2012 sales

PKBR Staff Writer Published 03 August 2012

Sealed Air has announced that the company’s Protective Packaging segment sales decreased 3% on a reported basis or increased 1% on a constant dollar basis with slightly higher volumes and relatively steady price/mix performance compared to 2011.

Due to the gradual economic recovery in North America and strength in new solutions targeting e-commerce applications, the segment achieved 2% higher volumes in the region. The growth was mainly offset by 3% lower EMEA volumes due to weakening economic conditions in Europe.

According to Sealed Air, the segment's reported and adjusted operating profit decreased 7% to $43m or 12.5% of net sales, compared with an operating profit of $46m or 13.1% of net sales in 2011.

Food Packaging segment sales were flat on a reported basis, or 4% higher with 3% higher price/mix from prior Latin and North American pricing actions and standard contract adjustments.

The volumes increased 1% led by 7% volume growth in Latin America, which was muted by about 2% lower volumes in both North America and EMEA on lower customer production rates.

The segment's operating profit decreased 26% to $46m or 9.3% of net sales when compared to $62m or 12.4% of net sales in 2011.

Sealed Air comprises brands such as Bubble Wrap brand cushioning, Cryovac brand food packaging solutions and Diversey brand cleaning and hygiene solutions.