Second Quarter 2020 Summary Reported sales and core sales decreased 6% primarily due to the negative effects of COVID-19 on the beauty and beverage markets as well as passing on lower resin costs; negative currency effects were offset by contributions coming from acquisitions Reported sales growth of 7% and core sales growth of 6% in our Pharma segment was offset by decreases in reported sales and core sales in our Beauty + Home and Food + Beverage segments “Thank You Award” costs of $3.6 million (pretax) were included in second quarter reported and adjusted earnings; this one-time Award was granted to employees who made it possible for Aptar to continue to supply critical infrastructure industries during the initial phases of the COVID-19 crisis Reported earnings per share totaled $0.63 (a decrease of 44% compared to the prior year) Adjusted earnings per share totaled $0.80 (a decrease of 30% compared to the prior year) Reported net income totaled $42 million (a decrease of 43% compared to the prior year) Adjusted EBITDA totaled $137 million (a decrease of 15% compared to the prior year) Cash flow from operations was $228 million in the first half of 2020 (an increase of 3% compared to the prior year) Free cash flow was $105 million in the first half of 2020 (an increase of 9% compared to the prior year) Declared quarterly dividend of $0.36 per share Subsequent to the end of the quarter, Kimberly Y. Chainey joined Aptar as EVP General Counsel and is a member of the Executive Committee
Marchesini Group, consolidated turnover of 441 million Euro. Three new companies acquired in the mechanical and automation supply chain
Pianoro (Bologna) – Marchesini Group closed 2019 with a consolidated turnover of 441 million Euro, a repeat of the excellent performance in 2018. During the current year, the Marchesini Group has continued its production activities as steadily as possible, despite the sharp slowdown in the Italian and international economy caused by the Covid-19 pandemic. Notably, between February and June more than 50 virtual tests were carried out, which made it possible to respect the machine delivery times and maintain a stable economic outlook for the company.
Medicines regulatory authorities from around the world have published a report today highlighting the outcomes of the second workshop on COVID-19 vaccine development that was convened under the umbrella of the International Coalition of Medicines Regulatory Authorities (ICMRA).
The report describes the regulatory positions agreed by the meeting participants on two key topics:
EMA and the Heads of Medicines Agencies (HMA) have developed a joint strategy for the next five years that is released for a two-month public consultation today. The draft strategy details how the European medicines agencies’ network can continue to enable the supply of safe and effective medicines that meet patients’ needs in the face of challenges posed by ever-accelerating developments in science, medicine, digital technologies, globalisation as well as emerging health threats, such as the COVID-19 pandemic.
QIAGEN is a leading global provider of molecular Sample to Insight solutions. The company recently launched a syndromic test cartridge kit for the QIAstat-Dx Analyser System that can identify the SARS-CoV-2 coronavirus within an hour. Designed for use in hospitals, clinics and laboratories, the company’s new QIAstat-Dx syndromic testing platform comes in the form of a compact, modular, table-top device into which multi-chamber cartridges containing test samples are inserted for analysis. During times like these, flexibility in production is key to help support essential packaging needs in the medical industry. “Given that timely testing is a critical component of mitigating the spread of the pandemic, we stand ready to assist the medical community in any way we can. At Mondi Korneuburg, we adjusted our production planning in order to meet the increase in demand to support QIAGEN,” explains Eveline Wagner, Managing Director of Mondi Korneuburg. Mondi has an ongoing relationship with QIAGEN and is providing packaging for the test cartridges using a customised design. The white, unprinted, multilayer pouches consist of a polyester/aluminium/polyethylene (PET/Alu/PE) construction to provide the necessary protection from light and moisture so that the test kits are not compromised before they are used. We worked closely with QIAGEN to understand how best to ensure test kits are packaged safely. We are now ready to scale up production of this product and meet the new demands. Emilio Vidri, Sales Director Europe, Mondi Consumer Flexibles
EMA has endorsed a joint statement on prioritisation of COVID-19 clinical trials published by the International Coalition of Medicines Regulatory Authorities (ICMRA). Medicines regulators from around the world have jointly developed this statement to step up global collaboration to facilitate and expedite the development and evaluation of therapeutics, diagnostics and vaccines against COVID-19.
High demand for protective garments for the medical sector: Reifenhäuser converts another pilot line for production
The Covid-19 crisis puts global production capacity for hygiene products to a severe test. In March Reifenhäuser has temporarily produced metlblown to produce roughly one million face masks a day at its Technology Center. The company has now converted another pilot line for production. The first batch produces 110 metric tons of protective film for a global leading manufacturer for medical coveralls for use in hospitals. The increased demand is currently very high for coveralls worn to treat highly infectious coronavirus patients.
For this reason, it implemented all the indications provided for by the Shared Protocol on March 14, 2020 between the Government, Trade Unions and Trade Associations. In order to allow its employees and suppliers to access workplaces in compliance with the precautions that the current serious situation requires to adopt. Below you will find the main measures that Makro Labeling Srl has put in place to ensure the safety of its employees / collaborators for the benefit of the entire community of customers and suppliers and to guarantee - at the same time - the continuity of activities with our customers, where possible. In particular: The Committee for the verification and application of the rules established by the Shared Protocol was set up in the company. The Committee meets virtually every day to follow the evolution of the emergency and act accordingly. For security reasons, from the first day we reduced the organization of face-to-face meetings to a minimum, favoring remote communication tools such as webinars, skype calls, etc. We have activated the working mode in smartworking as much as possible and reduced the staff present in the production departments, using backward permits and holidays, always in such a way, however, to guarantee continuity of service. All our telephone numbers / contact points are manned, as usual. We confirm that, to date, no employee and collaborator of Makro Labeling Srl is affected by the COVID-19 virus and therefore subjected to restrictive individual health measures as required by the emergency protocol. For the protection of everyone's health, our office is currently not accessible to outsiders (suppliers can deliver, in compliance with company safety procedures, by agreement with the warehouse. For operational questions and specifics on current projects, we ask you to refer to your internal contacts at Makro Labeling Srl. We will take care of updating you with further communications in the case of new provisions that may be adopted following directives from the Competent Authorities. Cordial greetings Goito (MN), there March 24 2020
Under the umbrella of the International Coalition of Medicines Regulatory Authorities (ICMRA), international regulators discussed COVID-19 vaccine development and the necessary evidence required for regulatory decision-making at the second regulatory workshop on COVID-19 vaccines. The meeting was jointly organised by the European Medicines Agency (EMA) and the US Food and Drug Administration (FDA) on 22 June 2020.
The situation with the Coronavirus/COVID-19 is, as I’m sure you’re aware, constantly evolving. Our senior management team are meeting regularly to review the guidance we receive and the advice we give. We have also updated our procedures to ensure we are able to honour our commitments to our team and our customers. Our intention at this time is to maintain an uninterrupted supply chain, this will include functioning production, order processing and technical departments, along with a customer service support team. This will allow is to meet customer’s demands with the same high standards we usually work to. We will be reviewing this regularly and can reassure you that we are taking action to minimise risks, where possible. This includes: Risk Assessment We have carried out a full risk assessment of our headquarters. This includes; · Prioritising the departments most at risk and looking for alternative ways of working where necessary. · Restricting face to face meetings and running conference/video calls where possible. · Putting in place measures that allow staff with children and at-risk family members to look after them if needed, without disrupting business. Travel restrictions We have cancelled all non-essential travel both in terms of face to face meetings and overseas trips. Production isolation Having identified the production facility as a key area, we have restricted the physical interaction people have with this part of the business. This includes restricting entry to only key production personnel and prohibiting entry for external visitors. Communication We are issuing internal memos highlighting any new procedures and changes we are asking people to make. We will also be sending regular updates to our wider distributor network. Cleaning procedure We have established a cleaning rota for all communal areas, this is in addition to the increase in cleaning from our professional cleaning company. Working from home protocol We have now introduced a working from home policy where those who can are working from home. We have ensured everyone has the appropriate hardware for them to work effectively from home and allow a safe continuation of business. We have made every effort to balance the welfare of our team with the needs of the business. Whilst we hope these measures will only be temporary, we are confident that the company, its employees and distributors are well placed to deal with any challenges we face. We would also like to reassure you that whilst there is a chance of delays to orders in the future, at present, orders are being fulfilled as normal.
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