Amcor Result In Line, With Flexibles Growth to Drive Earnings in 2017; Maintain AUD 12 FVE
Amcor delivered 2016 net profit after tax of USD 244.1 million, down 64% on 2015. Like-for-like NPAT increased 7.5% to USD 671 million on a constant-currency basis, excluding USD 427 million of charges relating to currency devaluation and write-downs of Amcor’s Venezuelan operations. The result was in line with our estimates. EBIT growth of 7% comprised 4% organic growth, a solid result indicative of market share gains, and 3% growth from acquisitions. Cost-out was strong, resulting in EBIT marg...Amcor is a packaging company. Co. has the following reportable segments: Amcor Rigid Plastics, which manufactures rigid plastic containers for a range of primarily beverage and food products; Amcor Flexibles, which represents the aggregation of four operating segments of which each manufactures flexible and film packaging for their respective industries; as well as Other/Investments, which holds Co.'s equity accounted investments in the associate AMVIG Holdings Limited (AMVIG) and the joint venture Discma AG (Discma). AMVIG is mainly involved in the manufacture of tobacco packaging while Discma's operations primarily relate to the development and licensing of packaging product development.
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