COVERIS REPORTS FIRST QUARTER 2016 FINANCIAL RESULTS

Thursday, May 12th, 2016
  • Adjusted EBITDA of $76 million, up 2.6% compared to 2015
  • Adjustments to EBITDA for special items reduced to $9 million compared to $18 million in 2015
  • Gross margin of 15.6%, up 70 basis points compared to the prior year

Coveris Holdings S.A. reported first quarter 2016 net sales of $638 million. Net sales for the first quarter of 2015 were $634 million.
Adjusted EBITDA for the first quarter was $76 milion, compared to $74 million in the first quarter of 2015.

“During the quarter, Coveris remained focused on key strategic initiatives around commercial and supply chain excellence,”
said Gary Masse, President and Chief Executive Officer. “We are dr iving our strategy and making progress with key end  market growth, pricing our products, achieving productivity improvements and managing our inventory.”

Please see our Adjusted EBITDA Reconciliation attached to this press release. Additional financial information may be found  on www.coveris.com under the Investor Relations section.

EARNINGS CALL
A conference call hosted by management to discuss these financial results will be held on May 13, at 9:00 am, Eastern. The  conference call number is 877 -407-8031 (domestic) or 201-689 -8031 (international). A replay of the call will be available  after 1:30 pm, Eastern on May 13 until May 27, 2016, by dialing 877-660-6853 (domestic) or 201-612-7415 (international)  with the conference ID of 13636694.

Investor Contact:
Duane Owens
Treasurer
864-641-4710
duane.owens@coveris.com

Media Contact:
Chris Swalm
Marketing Communications Manager
864-504-6145
chris.swalm@coveris.com

COVERIS – Coveris-Reports-First-Quarter-Financial-Results