Magnera reports strong financial performance in first fiscal quarter

Magnera reported net sales of US$702 million in the first fiscal quarter ended December 2024, reflecting a significant increase compared to US$519 million in the same period last year. The growth was driven by the merger between the nonwovens and hygiene films businesses of Berry Global Group, Inc. and Glatfelter Corporation, completed on November 4, 2024.

The additional revenue generated by the merger totaled US$186 million, while price adjustments contributed an increase of US$11 million. However, these factors were partially negatively impacted by an unfavorable exchange rate variation of US$14 million.

In the Americas, the company achieved net sales of US$420 million in the quarter, compared to the US$348 million recorded in the same period in 2023. The advance was the result of the incorporation of US$70 million from the merger and a US$12 million increase in prices, partially offset by losses of US$13 million due to exchange rate volatility.

In the “Rest of the World” segment, revenue reached US$282 million, surpassing the US$171 million of the previous year. The positive performance was largely driven by the merger, which added US$116 million to revenues.

Curt Begle, CEO of Magnera, commented on the evolution of the company and its global positioning: “I am honored to be leading Magnera, a global nonwovens leader, with a broad platform of product solutions for the specialty materials industry. Our diverse business and valued customers are proudly supported by more than 9,000 employees across 46 global manufacturing facilities.”

He also highlighted the company’s ability to maintain its operational efficiency even in the face of currency challenges: “Magnera’s solid fiscal Q1 results were better than prior year despite currency headwinds and reflect our ability to remain focused on day-to-day business execution, while managing the post-transaction integration activities.”