DELAWARE, Ohio–(BUSINESS WIRE)– Greif, Inc. (NYSE: GEF, GEF.B), a world leader in industrial packaging products and services, announced first quarter 2017 results. “Our global portfolio delivered solid results during the first quarter,” said Greif’s President and Chief Executive Officer, Pete Watson. “Greif’s gross profit and operating profit before special items1 margins both improved as we continued to execute our strategy of improved customer service and disciplined commercial and operational execution. Looking forward, we remain focused on advancing our strategy to generate greater value from our portfolio for the benefit of our customers and shareholders.”
First Quarter Highlights include:
- Net sales increased $49.5 million to $820.9 million compared to $771.4 million for the first quarter of 2016.
- Gross profit improved to $163.3 million compared to $151.3 million for the first quarter of 2016. Gross profit margin improved to 19.9 percent from 19.6 percent for the first quarter of 2016.
- Operating profit improved $24.5 million and operating profit before special items improved $8.6 million compared to the first quarter of 2016. Operating profit margin before special items improved to 8.1 percent compared to 7.5 percent for the first quarter of 2016.
- Net income of $5.4 million or $0.10 per diluted Class A share compared to net loss of $(11.1) million or $(0.19) per diluted Class A share for the first quarter of 2016. Net income, excluding the impact of special items, of $26.4 million or $0.45 per diluted Class A share compared to net income, excluding the impact of special items, of $23.0 million or $0.40 per diluted Class A share for the first quarter of 2016.
- Income tax expense for the first quarter of 2017 increased to $11.8 million from $6.0 million for the first quarter 2016, due primarily to changes in income mix, the impact of entities with a valuation allowance, and a change in assertions related to foreign unremitted earnings that triggered a first quarter 2017 charge of $4.4 million.
- Cash used in operating activities increased $17.9 million compared to the first quarter of 2016. Free cash flow2 declined by $9.4 million compared to the first quarter of 2016, primarily due to increased raw material purchases in the first quarter of 2017 compared to 2016 in anticipation of near-term increases in raw material costs.
- During the first quarter of 2017, the Company purchased an annuity contract for approximately $49.2 million with defined benefit pension plan assets and, in connection with such purchase, the pension obligation for certain retirees under that plan in the United States was irrevocably transferred from the plan to the annuity contract. Additionally, lump sum payments totaling $35.1 million were made from defined benefit plan assets to certain participants who agreed to accept such payments, representing the current value of those participants’ respective pension benefit. The settlement items described above resulted in a decrease in projected benefit obligation of $84.3 million and a non-cash settlement charge of $23.5 million.
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| 1 | 本新闻稿中“股息摘要”后的“精选财务摘要”表中列出了特殊项目前净利润、特殊项目前 A 类每股摊薄收益和特殊项目前营业利润中排除的所有特殊项目的摘要。 | |||
| 2 | 自由现金流定义为经营活动提供的净现金减去购买物业、厂房和设备所支付的现金。 | |||
注：本新闻稿中使用的所有非 GAAP 财务指标与最直接可比的 GAAP 财务指标之间的差异对照表已包含在本新闻稿的财务附表中。这些非 GAAP 财务指标旨在补充我们的财务结果，应与我们的财务结果一起阅读。它们不应被视为我们报告的财务结果的替代品或替代物，也不应被视为优于我们报告的财务结果。因此，本财务信息的使用者不应过分依赖这些非 GAAP 财务指标。
Company Outlook
We reaffirm our 2017 fiscal year guidance as set forth below.
| Class A Earnings Per Share before Special Items | $2.78 – $3.08 |
Note: 2017 GAAP Class A Earnings Per Share guidance is not provided in this release due to the potential for one or more of the following, the timing and magnitude of which we are unable to reliably forecast: gains or losses on the disposal of businesses, timberland or properties, plants and equipment, net, non-cash asset impairment charges due to unanticipated changes in the business, restructuring-related activities, non-cash pension settlements or acquisition costs, and the income tax effects of these items and other income tax-related events. No reconciliation of the fiscal year 2017 Class A earnings per share before special items guidance, a non-GAAP financial measure which excludes gains and losses on the disposal of businesses, timberland and property, plant and equipment, acquisition costs, non-cash pension settlement charges, restructuring and impairment charges is included in this release because, due to the high variability and difficulty in making accurate forecasts and projections of some of the excluded information, together with some of the excluded information not being ascertainable or accessible, we are unable to quantify certain amounts that would be required to be included in the most directly comparable GAAP financial measure without unreasonable efforts.
分部业绩
Net sales are impacted primarily by the volume of primary products sold, selling prices, product mix and the impact of changes in foreign currencies against the U.S. Dollar. The tables below show the percentage impact of each of these items on net sales for our primary products, both including and excluding divestitures, for the first quarter of 2017 as compared to the first quarter of 2016 for the business segments with manufacturing operations:
| 净销售额影响 – 初级产品 | 刚性工业包装 ＆Services* | 纸包装和Services* | 灵活的产品& Services* | ||||||
| % | % | % | |||||||
| 货币翻译 | (2.7 | )% | — | (4.3 | )% | ||||
| 体积 | 3.0 | % | 16.1 | % | (0.7 | )% | |||
| 销售价格和产品组合 | 10.3 | % | (0.8 | )% | 5.1 | % | |||
| 初级产品的总体影响 | 10.6 | % | 15.3 | % | 0.1 | % | |||
| 净销售额影响——主要产品（不包括资产剥离）： | 刚性工业包装 ＆Services* | 纸包装和Services* | 灵活的产品& Services* | ||||||
| % | % | % | |||||||
| 货币翻译 | (2.7 | )% | — | (4.5 | )% | ||||
| 体积 | 3.0 | % | 16.1 | % | 3.5 | % | |||
| 销售价格和产品组合 | 10.3 | % | (0.8 | )% | 4.9 | % | |||
| 初级产品的总体影响 | 10.6 | % | 15.3 | % | 3.9 | % | |||
| 主要产品为钢桶、塑料桶和纤维桶；中型散装容器；挂面纸板、中型纸板、瓦楞纸和瓦楞容器；以及 1&2 环和 4 环柔性中型散装容器。 |
硬质工业包装与服务
Net sales increased $26.6 million to $561.5 million for the first quarter of 2017 compared to $534.9 million for the first quarter of 2016. Divestitures (all involving non-primary products) and foreign currency translation both negatively impacted net sales by $25.2 million and $14.4 million, respectively, in the first quarter of 2017 compared to the first quarter of 2016. The $66.2 million increase for the first quarter 2017 compared to the first quarter of 2016 was due primarily to an increase in selling prices of our primary products due to strategic pricing decisions and increases in index prices of 10.3 percent and an increase in volumes of 3.0 percent.
Gross profit increased to $112.4 million (20.0 percent) for the first quarter of 2017 compared to $102.8 million (19.2 percent) for the first quarter of 2016 due to the same factors that impacted net sales, improvements in production costs and divestiture of select non-core and underperforming assets during 2016.
Operating profit was $28.7 million for the first quarter of 2017 compared to an operating loss of $2.6 million for the first quarter of 2016. Operating profit before special items and excluding the impact of divestitures increased to $43.4 million for the first quarter of 2017 from $35.4 million for the first quarter of 2016, due primarily to the same factors that impacted gross profit and a benefit due to a decrease in allocated corporate costs.
纸包装与服务
Net sales increased $24.5 million to $182.9 million for the first quarter of 2017 compared with $158.4 million for the first quarter of 2016. The increase was due primarily to an increase in volumes in business at the mills and sheet feeder facilities and increased sales of specialty products of $12.0 million from the first quarter of 2016 to the first quarter of 2017.
Gross profit was $35.3 million (19.3 percent) for the first quarter of 2017 compared to $35.8 million (22.6 percent) for the first quarter of 2016. The decrease in gross profit margin was due primarily to increased input costs as well as reductions in published containerboard index prices, substantially offset by an increase in volumes.
Operating profit was $10.8 million for the first quarter of 2017 compared with $21.2 million for the first quarter of 2016. Operating profit before special items decreased to $19.9 million for the first quarter of 2017 from $22.7 million for the first quarter of 2017, due primarily to an increase in pension costs and allocated corporate costs.
灵活的产品和服务
Net sales decreased $3.2 million to $69.7 million for the first quarter of 2017 compared with $72.9 million for the first quarter of 2016 due primarily to the impact of one divestiture in 2016 of a unit selling primary products. Excluding the impact of that divestiture, primary product volume improvements increased net sales 3.5 percent from the first quarter of 2016 to the first quarter of 2017.
Gross profit was $13.1 million (18.8 percent) for the first quarter of 2017 compared to $10.5 million (14.4 percent) for the first quarter 2016. The margin improvement was due to reduced labor and fixed production costs and the continued impact of strategic volume and pricing decisions throughout 2016.
Operating profit was $0.5 million for the first quarter of 2017 compared to an operating loss of $3.1 million for the first quarter of 2016. Operating profit before special items was $1.6 million for the first quarter of 2017 compared to an operating loss of $1.6 million for the first quarter of 2016. The improvement in the operating profit before special items was due primarily to the same factors that impacted gross profit.
土地管理
Net sales increased $1.6 million to $6.8 million for the first quarter of 2017 compared to $5.2 million for the first quarter of 2016.
Operating profit was $2.1 million for both the first quarter of 2017 and 2016 with an increase in allocated corporate costs offsetting the impact of the increase in net sales.
股息摘要
On February 28, 2017, the Board of Directors declared quarterly cash dividends of $0.42 per share of Class A Common Stock and $0.63 per share of Class B Common Stock. Dividends are payable on April 1, 2017, to stockholders of record at the close of business on March 17, 2017.
| GREIF, INC. 及其子公司 部分财务亮点 未经审计 (Dollars in millions, except per share amounts) |
||||||||
| Three months ended January 31, | ||||||||
| 2017 | 2016 | |||||||
| 部分财务亮点 | ||||||||
| 净销售额 | $ | 820.9 | $ | 771.4 | ||||
| 毛利 | 163.3 | 151.3 | ||||||
| 毛利率 | 19.9 | % | 19.6 | % | ||||
| 营业利润 | 42.1 | 17.6 | ||||||
| 特殊项目前营业利润 | 66.7 | 58.1 | ||||||
| 息税折旧摊销前利润 | 69.2 | 46.9 | ||||||
| 不计特殊项目的息税折旧摊销前利润 | 93.8 | 87.4 | ||||||
| Cash used in operating activities | (44.1 | ) | (26.2 | ) | ||||
| 自由现金流 | (65.4 | ) | (56.0 | ) | ||||
| Net income (loss) attributable to Greif, Inc. | 5.4 | (11.1 | ) | |||||
| Diluted Class A earnings (loss) per share attributable to Greif, Inc. | $ | 0.10 | $ | (0.19 | ) | |||
| 扣除特殊项目前 Greif, Inc. 的稀释 A 类每股收益 | $ | 0.45 | $ | 0.40 | ||||
| 特殊物品 | ||||||||
| 重组费用 | $ | (0.3 | ) | $ | 2.3 | |||
| 非现金资产减值费用 | 1.9 | 39.1 | ||||||
| 非现金养老金结算费 | 23.5 | — | ||||||
| 物业、厂房及设备及业务处置收益净额 | (0.5 | ) | (0.9 | ) | ||||
| 特殊商品总计 | $ | 24.6 | $ | 40.5 | ||||
| 特殊项目总额（扣除税款和非控股权益） | 21.0 | 34.1 | ||||||
| 税后特殊项目总额对 Greif, Inc. 每股 A 类稀释收益的影响 | $ | 0.35 | $ | 0.59 | ||||
| January 31, 2017 | 2016 年 10 月 31 日 | |||||||
| 营运资金4 | 362.6 | 304.6 |
| __________ | ||||
| 4 | Operating working capital represents trade accounts receivable plus inventories less accounts payable. | |||
电话会议
The Company will host a conference call to discuss the first quarter of 2017 results on March 2, 2017, at 10:00 a.m. Eastern Time (ET). To participate, domestic callers should call 877-201-0168. The Greif ID is 67687104. The number for international callers is 1-647-788-4901. Phone lines will open at 9:30 a.m. ET. The conference call will also be available through a live webcast, including slides, which can be accessed at http://investor.greif.com 点击“活动和演示”选项卡并在活动日历下搜索。电话会议重播将在会议结束后约两小时在公司网站上提供。
关于Greif
Greif 是工业包装产品和服务领域的全球领导者，其愿景是成为工业包装领域表现最佳的客户服务公司。该公司生产钢制、塑料、纤维、柔性、瓦楞纸和翻新容器、中型散装容器、箱板纸和包装配件，并为各行各业提供灌装、包装和工业包装翻新服务。Greif 还管理美国东南部的木材资产。该公司在 45 多个国家/地区具有战略地位，可为全球和地区客户提供服务。更多信息请访问公司网站： www.greif.com.
前瞻性陈述
本新闻稿包含《1995 年私人证券诉讼改革法》所定义的前瞻性陈述。前瞻性陈述包含“可能”、“将”、“期望”、“打算”、“估计”、“预期”、“愿望”、“目标”、“预计”、“相信”、“继续”、“按计划进行”或“目标”或其否定词以及类似表达等。所有前瞻性陈述均基于假设、预期和管理层当前可获得的其他信息。此类前瞻性陈述受某些风险和不确定性的影响，这些风险和不确定性可能导致公司的实际结果与明示或暗示的预测、预计或预期存在重大差异。这些风险和不确定性中最重要的部分在公司截至 2016 年 10 月 31 日财年的 10-K 表年度报告第一部分中进行了描述。公司不承担更新或修改任何前瞻性陈述的义务。
尽管本公司认为前瞻性陈述中所反映的预期具有合理基础，但本公司无法保证这些预期将被证明是正确的。前瞻性陈述受风险和不确定因素的影响，这些风险和不确定因素可能导致本公司的实际结果与前瞻性陈述中明示或暗示的预测、预计或预期结果存在重大差异。可能导致差异的风险和不确定因素包括但不限于以下几点：（i）从历史上看，我们的业务对一般经济或商业条件的变化很敏感，（ii）我们可能无法成功实施我们的业务战略，包括实现我们的转型和增长目标，（iii）我们的运营使我们面临可能对我们的经营业绩产生不利影响的货币兑换和政治风险，（iv）当前和未来充满挑战的全球经济以及金融和信贷市场的混乱和波动可能对我们的业务产生不利影响，（v）我们的客户群和供应商的持续整合可能加剧价格压力，（vi）我们处于竞争激烈的行业，（vii）我们的业务对行业需求的变化很敏感，（viii）原材料和能源价格波动和短缺可能对我们的制造业务和成本产生不利影响，（ix）地缘政治条件，包括直接或间接的战争或恐怖主义行为，可能对我们的运营和财务结果产生重大不利影响，（x）我们可能会遇到因收购而产生的困难，（xi）在收购或资产剥离方面，我们可能承担债务， (xii) 我们可能会产生额外的重组费用，而且我们降低成本的努力不一定能够成功；(xiii) 税收立法举措或对我们税收状况的挑战可能会对我们的业绩或状况产生不利影响；(xiv) 我们递延所得税资产的全面实现可能受到多种因素的影响；(xv) 一些业务是由合资企业进行的，我们不能仅为自己谋利；(xvi) 管理我们合资企业的某些协议为我们的合作伙伴提供了看跌或看涨期权；(xvii) 我们吸引、发展和留住优秀和合格的员工、经理和高管的能力对我们的成功至关重要；(xviii) 停工和其他劳资关系问题可能会对我们的业务产生不利影响；(xix) 我们可能无法成功识别员工中的非法移民；(xx) 我们的养老金和退休后计划资金不足，将需要未来的现金供款，而我们所需的未来现金供款可能高于我们的预期，每一项都可能对我们的财务状况和流动性产生重大不利影响；(xxi) 我们可能会遭受损失，不受现有保险准备金或保险范围全部或部分覆盖；(xxii) 我们的业务依赖于我们的设施、系统和业务职能的不间断运行，包括我们的信息技术 (IT) 和其他业务系统；(xxiii) 客户、员工、供应商或公司信息的安全漏洞可能对我们的业务、财务状况和经营业绩产生重大不利影响；(xxiv) 与环境、健康和安全事务以及企业社会责任相关的法律/法规可能对我们的运营和财务业绩产生负面影响；(xxv) 产品责任索赔和其他法律诉讼可能对我们的运营和财务业绩产生不利影响；(xxvi) 如果我们的员工、代理人或业务伙伴违反或被指控违反反贿赂、竞争或其他法律，我们可能会遭受罚款或处罚、声誉受损或其他不利后果；(xxvii) 气候变化、气候变化法规和温室气体效应可能对我们的运营和财务业绩产生不利影响；(xxviii) 我们销售木材和林地的频率和数量将影响我们的财务业绩；(xxix) 美国公认会计原则的变化(美国公认会计准则) 和美国证券交易委员会规则和法规可能会对我们报告的结果产生重大影响，(xxx) 如果公司未能维持有效的内部控制系统，公司可能无法准确报告财务结果或防止欺诈，以及 (xxxi) 公司拥有大量商誉和长期资产，如果未来受损，将对我们的经营业绩产生不利影响。上述风险并非全部，鉴于这些和其他可能的风险和不确定性，投资者不应过分依赖前瞻性陈述作为对实际结果的预测。有关可能导致我们的实际结果与预测、预计或预期结果存在重大差异的最重大风险和不确定性的详细讨论，请参阅我们最近提交的 10-K 表格第 I 部分第 1A 项中的“风险因素”以及我们向美国证券交易委员会提交的其他文件。本新闻稿中的所有前瞻性陈述均明确参考这些风险因素。除适用法律要求的有限范围外，我们不承担更新或修改任何前瞻性陈述的义务，无论是由于新信息、未来事件还是其他原因。
| GREIF, INC. 及其子公司 简明合并损益表 未经审计 (Dollars and shares in millions, except per share amounts) |
||||||||
| Three months ended January 31, | ||||||||
| 2017 | 2016 | |||||||
| 净销售额 | $ | 820.9 | $ | 771.4 | ||||
| 销售产品成本 | 657.6 | 620.1 | ||||||
| 毛利 | 163.3 | 151.3 | ||||||
| 销售、一般及行政开支 | 96.6 | 93.2 | ||||||
| 重组费用 | (0.3 | ) | 2.3 | |||||
| 非现金资产减值费用 | 1.9 | 39.1 | ||||||
| Pension settlement charge | 23.5 | — | ||||||
| 物业、厂房及设备处置收益净额 | (1.0 | ) | (0.9 | ) | ||||
| Loss on disposal of businesses | 0.5 | — | ||||||
| 营业利润 | 42.1 | 17.6 | ||||||
| 利息支出净额 | 18.7 | 18.5 | ||||||
| 其他费用净额 | 3.6 | 3.0 | ||||||
| Income (loss) before income tax expense and equity earnings of unconsolidated affiliates, net | 19.8 | (3.9 | ) | |||||
| 所得税费用 | 11.8 | 6.0 | ||||||
| Net income (loss) | 8.0 | (9.9 | ) | |||||
| 归属于非控股股东的净利润 | (2.6 | ) | (1.2 | ) | ||||
| Net income (loss) attributable to Greif, Inc. | $ | 5.4 | $ | (11.1 | ) | |||
| Basic earnings (loss) per share attributable to Greif, Inc. common shareholders: | ||||||||
| A 类普通股 | $ | 0.10 | $ | (0.19 | ) | |||
| B 类普通股 | $ | 0.13 | $ | (0.29 | ) | |||
| Diluted earnings (loss) per share attributable to Greif, Inc. common shareholders: | ||||||||
| A 类普通股 | $ | 0.10 | $ | (0.19 | ) | |||
| B 类普通股 | $ | 0.13 | $ | (0.29 | ) | |||
| 用于计算归属于 Greif, Inc. 普通股股东的每股基本收益的股份： | ||||||||
| A 类普通股 | 25.8 | 25.7 | ||||||
| B 类普通股 | 22.0 | 22.1 | ||||||
| 用于计算归属于 Greif, Inc. 普通股股东的每股摊薄收益的股份： | ||||||||
| A 类普通股 | 25.8 | 25.7 | ||||||
| B 类普通股 | 22.0 | 22.1 | ||||||
| GREIF, INC. 及其子公司 简明合并资产负债表 未经审计 (Dollars in millions) |
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| January 31, 2017 | 2016 年 10 月 31 日 | ||||||
| 资产 | |||||||
| 流动资产 | |||||||
| 现金及现金等价物 | $ | 106.8 | $ | 103.7 | |||
| 贸易应收账款 | 391.3 | 399.2 | |||||
| 库存 | 304.2 | 277.4 | |||||
| 其他流动资产 | 234.8 | 140.0 | |||||
| 1,037.1 | 920.3 | ||||||
| 长期资产 | |||||||
| 善意 | 747.9 | 786.4 | |||||
| 无形资产 | 89.0 | 110.6 | |||||
| 特殊目的实体持有的资产 | 50.9 | 50.9 | |||||
| 其他长期资产 | 138.8 | 120.9 | |||||
| 1,026.6 | 1,068.8 | ||||||
| 物业、厂房及设备 | 1,135.6 | 1,163.9 | |||||
| $ | 3,199.3 | $ | 3,153.0 | ||||
| 负债和股东权益 | |||||||
| 流动负债 | |||||||
| 应付账款 | $ | 332.9 | $ | 372.0 | |||
| 短期借款 | 38.9 | 51.6 | |||||
| 长期债务的当前部分 | — | — | |||||
| 其他流动负债 | 248.5 | 235.6 | |||||
| 620.3 | 659.2 | ||||||
| 长期负债 | |||||||
| 长期债务 | 1,074.8 | 974.6 | |||||
| 特殊目的实体持有的负债 | 43.3 | 43.3 | |||||
| 其他长期负债 | 463.2 | 486.2 | |||||
| 1,581.3 | 1,504.1 | ||||||
| REDEEMABLE NONCONTROLLING INTEREST | 32.5 | 31.8 | |||||
| 公平 | |||||||
| Greif, Inc. 总股权 | 955.0 | 947.4 | |||||
| 非控股权益 | 10.2 | 10.5 | |||||
| 965.2 | 957.9 | ||||||
| $ | 3,199.3 | $ | 3,153.0 | ||||
| GREIF, INC. 及其子公司 简明合并现金流量表 （未经审计） (Dollars in millions) |
||||||||
| Three months ended January 31, | ||||||||
| 2017 | 2016 | |||||||
| 经营活动产生的现金流量： | ||||||||
| Net income (loss) | $ | 8.0 | $ | (9.9 | ) | |||
| 折旧、耗竭和摊销 | 30.7 | 32.3 | ||||||
| 资产减值 | 1.9 | 39.1 | ||||||
| 养老金结算损失 | 23.5 | — | ||||||
| 净收入的其他非现金调整 | (10.3 | ) | 0.1 | |||||
| 营运资本变动 | (65.1 | ) | (35.2 | ) | ||||
| 已售应收账款的递延购买价格 | (23.1 | ) | (15.9 | ) | ||||
| Decrease in cash from changes in other assets and liabilities | (9.7 | ) | (36.7 | ) | ||||
| Net cash used in operating activities | (44.1 | ) | (26.2 | ) | ||||
| 投资活动产生的现金流量： | ||||||||
| 收取次级应收票据 | — | 44.2 | ||||||
| 购买物业、厂房和设备 | (21.3 | ) | (29.8 | ) | ||||
| 购买和投资林木资产 | (2.1 | ) | — | |||||
| 出售物业、厂房及设备、企业、林地及其他资产所得 | 2.5 | 2.1 | ||||||
| 投资活动提供（使用）的净现金 | (20.9 | ) | 16.5 | |||||
| 融资活动产生的现金流量： | ||||||||
| 债务收益（偿还）净额 | 97.7 | (2.4 | ) | |||||
| 向 Greif, Inc. 股东支付的股息 | (24.5 | ) | (24.5 | ) | ||||
| 其他 | (0.5 | ) | (0.2 | ) | ||||
| 融资活动提供的（使用的）净现金 | 72.7 | (27.1 | ) | |||||
| 汇率对现金的影响 | (4.6 | ) | (4.1 | ) | ||||
| 现金及现金等价物净增加（减少）额 | 3.1 | (40.9 | ) | |||||
| 期初现金及现金等价物 | 103.7 | 106.2 | ||||||
| 期末现金及现金等价物 | $ | 106.8 | $ | 65.3 | ||||
| GREIF, INC. 及其子公司 各部门财务亮点 未经审计 (Dollars in millions) |
||||||||
| Three months ended January 31, | ||||||||
| 2017 | 2016 | |||||||
| 净销售额： | ||||||||
| 硬质工业包装与服务 | $ | 561.5 | $ | 534.9 | ||||
| 纸包装与服务 | 182.9 | 158.4 | ||||||
| 灵活的产品和服务 | 69.7 | 72.9 | ||||||
| 土地管理 | 6.8 | 5.2 | ||||||
| 总净销售额 | $ | 820.9 | $ | 771.4 | ||||
| 营业利润（亏损）： | ||||||||
| 硬质工业包装与服务 | $ | 28.7 | $ | (2.6 | ) | |||
| 纸包装与服务 | 10.8 | 21.2 | ||||||
| 灵活的产品和服务 | 0.5 | (3.1 | ) | |||||
| 土地管理 | 2.1 | 2.1 | ||||||
| 总营业利润 | $ | 42.1 | $ | 17.6 | ||||
| 息税折旧摊销前利润5: | ||||||||
| 硬质工业包装与服务 | $ | 45.7 | $ | 17.5 | ||||
| 纸包装与服务 | 19.1 | 28.9 | ||||||
| 灵活的产品和服务 | 1.2 | (2.3 | ) | |||||
| 土地管理 | 3.2 | 2.8 | ||||||
| 总 EBITDA | $ | 69.2 | $ | 46.9 | ||||
| 特殊项目前息税折旧摊销前利润： | ||||||||
| 硬质工业包装与服务 | $ | 60.4 | $ | 55.6 | ||||
| 纸包装与服务 | 28.2 | 30.4 | ||||||
| 灵活的产品和服务 | 2.3 | (0.8 | ) | |||||
| 土地管理 | 2.9 | 2.2 | ||||||
| 特殊项目前息税折旧摊销前利润总额 | $ | 93.8 | $ | 87.4 |
| __________ | ||||
| 5 | EBITDA 定义为净收入加上利息支出净额加上所得税支出加上折旧、折耗和摊销。但是，由于公司不按分部计算净收入，因此本表按分部计算 EBITDA 时参考了分部的营业利润（亏损），如合并 EBITDA 表所示，这是实现相同结果的另一种方法。请参阅分部 EBITDA 表中的对账。 | |||
| GREIF, INC. 及其子公司 各地区财务摘要 未经审计 (Dollars in millions) |
||||||||
| Three months ended January 31, | ||||||||
| 2017 | 2016 | |||||||
| 净销售额： | ||||||||
| 美国 | $ | 408.0 | $ | 372.4 | ||||
| 欧洲、中东和非洲 | 285.9 | 276.2 | ||||||
| 亚太地区和其他美洲地区 | 127.0 | 122.8 | ||||||
| 总净销售额 | 820.9 | 771.4 | ||||||
| 毛利： | ||||||||
| 美国 | $ | 85.2 | $ | 78.9 | ||||
| 欧洲、中东和非洲 | 55.8 | 47.7 | ||||||
| 亚太地区和其他美洲地区 | 22.3 | 24.7 | ||||||
| 总毛利 | $ | 163.3 | $ | 151.3 | ||||
| 营业利润（亏损）： | ||||||||
| 美国 | $ | 5.3 | $ | 18.5 | ||||
| 欧洲、中东和非洲 | 24.1 | 5.9 | ||||||
| 亚太地区和其他美洲地区 | 12.7 | (6.8 | ) | |||||
| 总营业利润 | $ | 42.1 | $ | 17.6 | ||||
| GREIF, INC. 及其子公司 公认会计准则与非公认会计准则的调节 营运资本 未经审计 (Dollars in millions) |
|||||||
| January 31, 2017 | 2016 年 10 月 31 日 | ||||||
| 贸易应收账款 | $ | 391.3 | $ | 399.2 | |||
| 加：库存 | 304.2 | 277.4 | |||||
| 减：应付账款 | 332.9 | 372.0 | |||||
| 营运资金 | $ | 362.6 | $ | 304.6 | |||
| GREIF, INC. 及其子公司 公认会计准则与非公认会计准则的调节 综合息税折旧摊销前利润6 未经审计 (Dollars in millions) |
||||||||
| Three months ended January 31, | ||||||||
| 2017 | 2016 | |||||||
| Net income (loss) | $ | 8.0 | $ | (9.9 | ) | |||
| 加：利息支出净额 | 18.7 | 18.5 | ||||||
| 加：所得税费用 | 11.8 | 6.0 | ||||||
| 加：折旧、耗损和摊销费用 | 30.7 | 32.3 | ||||||
| 息税折旧摊销前利润 | $ | 69.2 | $ | 46.9 | ||||
| Net income (loss) | $ | 8.0 | $ | (9.9 | ) | |||
| 加：利息支出净额 | 18.7 | 18.5 | ||||||
| 加：所得税费用 | 11.8 | 6.0 | ||||||
| 加：其他费用净额 | 3.6 | 3.0 | ||||||
| 营业利润 | 42.1 | 17.6 | ||||||
| 减：其他费用净额 | 3.6 | 3.0 | ||||||
| 加：折旧、耗损和摊销费用 | 30.7 | 32.3 | ||||||
| 息税折旧摊销前利润 | $ | 69.2 | $ | 46.9 |
| __________ | ||||
| 6 | EBITDA 定义为净收入加上利息支出净额加上所得税支出加上折旧、耗损及摊销。如本表所示，EBITDA 也可以参考营业利润来计算。 | |||
| GREIF, INC. 及其子公司 公认会计准则与非公认会计准则的调节 分部息税折旧摊销前利润7 未经审计 (Dollars in millions) |
||||||||
| Three months ended January 31, | ||||||||
| 2017 | 2016 | |||||||
| 硬质工业包装与服务 | ||||||||
| 营业利润（亏损） | $ | 28.7 | $ | (2.6 | ) | |||
| 减：其他费用净额 | 2.4 | 1.7 | ||||||
| 加：折旧和摊销费用 | 19.4 | 21.8 | ||||||
| 息税折旧摊销前利润 | $ | 45.7 | $ | 17.5 | ||||
| 重组费用 | (0.5 | ) | 1.4 | |||||
| 非现金资产减值费用 | 1.6 | 36.8 | ||||||
| 非现金养老金结算费 | 14.1 | — | ||||||
| 处置物业、厂房、设备所得净收益 | (0.5 | ) | (0.1 | ) | ||||
| 不计特殊项目的息税折旧摊销前利润 | $ | 60.4 | $ | 55.6 | ||||
| 纸包装与服务 | ||||||||
| 营业利润 | $ | 10.8 | $ | 21.2 | ||||
| 加：折旧和摊销费用 | 8.3 | 7.7 | ||||||
| 息税折旧摊销前利润 | $ | 19.1 | $ | 28.9 | ||||
| 非现金资产减值费用 | — | 1.5 | ||||||
| 非现金养老金结算费 | 9.2 | — | ||||||
| 处置物业、厂房、设备所得净收益 | (0.1 | ) | — | |||||
| 不计特殊项目的息税折旧摊销前利润 | $ | 28.2 | $ | 30.4 | ||||
| 灵活的产品和服务 | ||||||||
| 营业利润（亏损） | $ | 0.5 | $ | (3.1 | ) | |||
| 减：其他费用净额 | 1.2 | 1.3 | ||||||
| 加：折旧和摊销费用 | 1.9 | 2.1 | ||||||
| 息税折旧摊销前利润 | $ | 1.2 | $ | (2.3 | ) | |||
| 重组费用 | 0.2 | 0.9 | ||||||
| 非现金资产减值费用 | 0.3 | 0.8 | ||||||
| 非现金养老金结算费 | 0.1 | — | ||||||
| (Gain) loss on disposal of properties, plants, equipment, net | 0.5 | (0.2 | ) | |||||
| 不计特殊项目的息税折旧摊销前利润 | $ | 2.3 | $ | (0.8 | ) | |||
| 土地管理 | ||||||||
| 营业利润 | $ | 2.1 | $ | 2.1 | ||||
| 加：折旧、耗损和摊销费用 | 1.1 | 0.7 | ||||||
| 息税折旧摊销前利润 | $ | 3.2 | $ | 2.8 | ||||
| 非现金养老金结算费 | 0.1 | — | ||||||
| 处置物业、厂房、设备所得净收益 | (0.4 | ) | (0.6 | ) | ||||
| 不计特殊项目的息税折旧摊销前利润 | $ | 2.9 | $ | 2.2 | ||||
| 合并 EBITDA | $ | 69.2 | $ | 46.9 | ||||
| 不计特殊项目的综合息税折旧摊销前利润 | $ | 93.8 | $ | 87.4 |
| __________ | ||||
| 7 | EBITDA 定义为净利润加上利息支出净额加上所得税支出加上折旧、折耗及摊销。然而，由于本公司不计算分部的净利润，因此本表参考分部的营业利润（亏损）计算分部的 EBITDA，如合并 EBITDA 表所示，这是实现相同结果的另一种方法。 | |||
| GREIF, INC. 及其子公司 公认会计准则与非公认会计准则的调节 自由现金流8 未经审计 (Dollars in millions) |
||||||||
| Three months ended January 31, | ||||||||
| 2017 | 2016 | |||||||
| Net cash used in operating activities | $ | (44.1 | ) | $ | (26.2 | ) | ||
| 购买物业、厂房及设备所支付的现金 | (21.3 | ) | (29.8 | ) | ||||
| 自由现金流 | $ | (65.4 | ) | $ | (56.0 | ) |
| __________ | ||||
| 8 | 自由现金流定义为经营活动提供的净现金减去购买物业、厂房和设备支付的现金。 | |||
| GREIF, INC. 及其子公司 公认会计准则与非公认会计准则的调节 特殊项目前的分部营业利润（亏损）9 未经审计 (Dollars in millions) |
||||||||
| Three months ended January 31, | ||||||||
| 2017 | 2016 | |||||||
| 营业利润（亏损）： | ||||||||
| 硬质工业包装与服务 | $ | 28.7 | $ | (2.6 | ) | |||
| 纸包装与服务 | 10.8 | 21.2 | ||||||
| 灵活的产品和服务 | 0.5 | (3.1 | ) | |||||
| 土地管理 | 2.1 | 2.1 | ||||||
| 总营业利润 | 42.1 | 17.6 | ||||||
| 重组费用： | ||||||||
| 硬质工业包装与服务 | (0.5 | ) | 1.4 | |||||
| 灵活的产品和服务 | 0.2 | 0.9 | ||||||
| 重组费用总额 | (0.3 | ) | 2.3 | |||||
| 非现金资产减值费用： | ||||||||
| 硬质工业包装与服务 | 1.6 | 36.8 | ||||||
| 纸包装与服务 | — | 1.5 | ||||||
| 灵活的产品和服务 | 0.3 | 0.8 | ||||||
| 非现金资产减值费用总额 | 1.9 | 39.1 | ||||||
| 非现金养老金结算费用： | ||||||||
| 硬质工业包装与服务 | 14.1 | — | ||||||
| 纸包装与服务 | 9.2 | — | ||||||
| 灵活的产品和服务 | 0.1 | — | ||||||
| 土地管理 | 0.1 | — | ||||||
| 非现金养老金结算费用总额 | 23.5 | — | ||||||
| 处置物业、厂房、设备和业务的（收益）损失净额： | ||||||||
| 硬质工业包装与服务 | (0.5 | ) | (0.1 | ) | ||||
| 纸包装与服务 | (0.1 | ) | — | |||||
| 灵活的产品和服务 | 0.5 | (0.2 | ) | |||||
| 土地管理 | (0.4 | ) | (0.6 | ) | ||||
| 物业、厂房、设备及业务处置总收益，净额 | (0.5 | ) | (0.9 | ) | ||||
| 特殊项目前营业利润（亏损）： | ||||||||
| 硬质工业包装与服务 | 43.4 | 35.5 | ||||||
| 纸包装与服务 | 19.9 | 22.7 | ||||||
| 灵活的产品和服务 | 1.6 | (1.6 | ) | |||||
| 土地管理 | 1.8 | 1.5 | ||||||
| 特殊项目前的总营业利润 | $ | 66.7 | $ | 58.1 |
| __________ | ||||
| 9 | Operating profit (loss) before special items is defined as operating profit (loss), plus restructuring charges, plus non-cash pension settlement charge, plus non-cash impairment charges, less (gain) loss on disposal of properties, plants, equipment, net. | |||
| GREIF, INC. 及其子公司 公认会计准则与非公认会计准则的调节 扣除特殊项目前的净收入和每股 A 类收益 未经审计 （单位：百万美元，每股金额除外） |
||||||||
| Three months ended January 31, 2017 | Class A | |||||||
| Net Income Attributable to Greif, Inc. | $ | 5.4 | $ | 0.10 | ||||
| 物业、厂房、设备及业务处置收益净额 | (0.5 | ) | (0.01 | ) | ||||
| 重组费用 | 3.8 | 0.06 | ||||||
| 非现金资产减值费用 | 1.5 | 0.03 | ||||||
| 非现金养老金结算费 | 16.2 | $ | 0.27 | |||||
| Net Income Attributable to Greif, Inc. Excluding Special Items | $ | 26.4 | $ | 0.45 | ||||
| Three months ended January 31, 2016 | Class A | |||||||
| Net Loss Attributable to Greif, Inc. | $ | (11.1 | ) | $ | (0.19 | ) | ||
| 物业、厂房、设备及业务处置收益净额 | (0.6 | ) | (0.01 | ) | ||||
| 重组费用 | 1.5 | 0.04 | ||||||
| 非现金资产减值费用 | 33.2 | 0.56 | ||||||
| Net Income Attributable to Greif, Inc. Excluding Special Items | $ | 23.0 | $ | 0.40 | ||||
| All special items are net of tax and noncontrolling interests |
| The results for the three months ended January 31, 2017 for Net Income Attributable to Greif, Inc. Excluding Special Items are net of tax of $2.9 million and net of noncontrolling interest of $0.7 million. Included in the restructuring charges special item is a $4.4 million income tax charge due to a change in assertions related to unremitted foreign earnings as a result of the restructuring of our intercompany debt portfolio. The tax rate excluding the impact of special items for the first quarter of 2017 was 33.1 percent. |
| GREIF, INC. 及其子公司 公认会计准则与非公认会计准则的调节 精选财务信息 排除资产剥离的影响 未经审计 (Dollars in millions) |
|||||||||||
| Three months ended January 31, | |||||||||||
| 2017 | 影响资产剥离 | 不包括影响资产剥离 | |||||||||
| 净销售额： | |||||||||||
| 硬质工业包装与服务 | $ | 561.5 | $ | — | $ | 561.5 | |||||
| 纸包装与服务 | 182.9 | — | 182.9 | ||||||||
| 灵活的产品和服务 | 69.7 | — | 69.7 | ||||||||
| 土地管理 | 6.8 | — | 6.8 | ||||||||
| 合并 | $ | 820.9 | $ | — | $ | 820.9 | |||||
| 毛利： | |||||||||||
| 硬质工业包装与服务 | $ | 112.4 | $ | — | $ | 112.4 | |||||
| 纸包装与服务 | 35.3 | — | 35.3 | ||||||||
| 灵活的产品和服务 | 13.1 | — | 13.1 | ||||||||
| 土地管理 | 2.5 | — | 2.5 | ||||||||
| 合并 | $ | 163.3 | $ | — | $ | 163.3 | |||||
| 营业利润： | |||||||||||
| 硬质工业包装与服务 | $ | 28.7 | $ | 0.1 | $ | 28.6 | |||||
| 纸包装与服务 | 10.8 | — | 10.8 | ||||||||
| 灵活的产品和服务 | 0.5 | — | 0.5 | ||||||||
| 土地管理 | 2.1 | — | 2.1 | ||||||||
| 合并 | $ | 42.1 | $ | 0.1 | $ | 42.0 | |||||
| 特殊项目前营业利润10: | |||||||||||
| 硬质工业包装与服务 | $ | 43.4 | $ | — | $ | 43.4 | |||||
| 纸包装与服务 | 19.9 | — | 19.9 | ||||||||
| 灵活的产品和服务 | 1.6 | — | 1.6 | ||||||||
| 土地管理 | 1.8 | — | 1.8 | ||||||||
| 合并 | $ | 66.7 | $ | — | $ | 66.7 |
| __________ | ||||
| 10 | 请参阅此处的表格，标题为“GAAP 与非 GAAP 调节特殊项目前分部营业利润（亏损），以调节每个分部的特殊项目前营业利润（亏损）。 | |||
| GREIF, INC. 及其子公司 公认会计准则与非公认会计准则的调节 精选财务信息 排除资产剥离的影响（续） 未经审计 (Dollars in millions) |
||||||||||||
| Three months ended January 31, | ||||||||||||
| 2016 | 影响资产剥离 | 不包括影响资产剥离 | ||||||||||
| 净销售额： | ||||||||||||
| 硬质工业包装与服务 | $ | 534.9 | $ | 25.2 | $ | 509.7 | ||||||
| 纸包装与服务 | 158.4 | — | 158.4 | |||||||||
| 灵活的产品和服务 | 72.9 | 2.3 | 70.6 | |||||||||
| 土地管理 | 5.2 | — | 5.2 | |||||||||
| 合并 | $ | 771.4 | $ | 27.5 | $ | 743.9 | ||||||
| 毛利： | ||||||||||||
| 硬质工业包装与服务 | $ | 102.8 | $ | 2.5 | $ | 100.3 | ||||||
| 纸包装与服务 | 35.8 | — | 35.8 | |||||||||
| 灵活的产品和服务 | 10.5 | 0.4 | 10.1 | |||||||||
| 土地管理 | 2.2 | — | 2.2 | |||||||||
| 合并 | $ | 151.3 | $ | 2.9 | $ | 148.4 | ||||||
| 营业利润（亏损）： | ||||||||||||
| 硬质工业包装与服务 | $ | (2.6 | ) | $ | (24.7 | ) | $ | 22.1 | ||||
| 纸包装与服务 | 21.2 | — | 21.2 | |||||||||
| 灵活的产品和服务 | (3.1 | ) | 0.1 | (3.2 | ) | |||||||
| 土地管理 | 2.1 | — | 2.1 | |||||||||
| 合并 | $ | 17.6 | $ | (24.6 | ) | $ | 42.2 | |||||
| 特殊项目前营业利润（亏损）11: | ||||||||||||
| 硬质工业包装与服务 | $ | 35.5 | $ | 0.1 | $ | 35.4 | ||||||
| 纸包装与服务 | 22.7 | — | 22.7 | |||||||||
| 灵活的产品和服务 | (1.6 | ) | 0.1 | (1.7 | ) | |||||||
| 土地管理 | 1.5 | — | 1.5 | |||||||||
| 合并 | $ | 58.1 | $ | 0.2 | $ | 57.9 |
| __________ | ||||
| 11 | 请参阅此处的表格，标题为“GAAP 与非 GAAP 调节特殊项目前分部营业利润（亏损），以调节每个分部的特殊项目前营业利润（亏损）。 | |||
| GREIF, INC. 及其子公司 公认会计准则与非公认会计准则的调节 净销售额与不包括以下影响的净销售额之比 资产剥离和货币折算 未经审计 (Dollars in millions) |
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| Three months ended January 31, | |||||||||||||||
| 2017 | 2016 | 增加 净销售额 ($) |
增加 净销售额（%） |
||||||||||||
| 净销售额 | $ | 820.9 | $ | 771.4 | $ | 49.5 | 6.4 | % | |||||||
| 资产剥离的影响 | — | 27.5 | |||||||||||||
| 不包括资产剥离影响的净销售额 | $ | 820.9 | $ | 743.9 | |||||||||||
| 货币翻译 | (17.7 | ) | 不适用 | ||||||||||||
| 不包括资产剥离和货币换算影响的净销售额 | $ | 838.6 | $ | 743.9 | $ | 94.7 | 12.7 | % | |||||||
| GREIF, INC. 及其子公司 公认会计准则与非公认会计准则的调节 RIGID INDUSTRIAL PACKAGING & SERVICES 净销售额与不包括以下影响的净销售额之比 资产剥离和货币折算 未经审计 (Dollars in millions) |
|||||||||||||||
| Three months ended January 31, | |||||||||||||||
| 2017 | 2016 | 增加 净销售额 ($) |
增加 净销售额（%） |
||||||||||||
| 净销售额 | $ | 561.5 | $ | 534.9 | $ | 26.6 | 5.0 | % | |||||||
| 资产剥离的影响 | — | 25.2 | |||||||||||||
| 不包括资产剥离影响的净销售额 | $ | 561.5 | $ | 509.7 | |||||||||||
| 货币翻译 | (14.4 | ) | 不适用 | ||||||||||||
| 不包括资产剥离和货币换算影响的净销售额 | $ | 575.9 | $ | 509.7 | $ | 66.2 | 13.0 | % | |||||||
| GREIF, INC. 及其子公司 公认会计准则与非公认会计准则的调节 农产品 净销售额与不包括资产剥离影响的净销售额之比 未经审计 (Dollars in millions) |
|||||||||||||||
| Three months ended January 31, | |||||||||||||||
| 2017 | 2016 | 增加 农产品 净销售额 ($) |
增加 农产品 净销售额（%） |
||||||||||||
| 硬质工业包装与服务 | |||||||||||||||
| 初级产品净销售额 | $ | 493.9 | $ | 446.5 | |||||||||||
| 资产剥离的影响 | — | — | |||||||||||||
| 不包括资产剥离影响的初级产品净销售额 | $ | 493.9 | $ | 446.5 | $ | 47.4 | 10.6 | % | |||||||
| 纸包装与服务 | |||||||||||||||
| 初级产品净销售额 | $ | 182.4 | $ | 158.1 | |||||||||||
| 资产剥离的影响 | — | — | |||||||||||||
| 不包括资产剥离影响的初级产品净销售额 | $ | 182.4 | $ | 158.1 | $ | 24.3 | 15.3 | % | |||||||
| 灵活的产品和服务 | |||||||||||||||
| 初级产品净销售额 | $ | 64.2 | $ | 64.1 | |||||||||||
| 资产剥离的影响 | — | (2.3 | ) | ||||||||||||
| 不包括资产剥离影响的初级产品净销售额 | $ | 64.2 | $ | 61.8 | $ | 2.4 | 3.9 | % |
查看 businesswire.com 上的源版本： http://www.businesswire.com/news/home/20170301006334/en/
消息来源：Greif, Inc.
Greif 公司
马特·艾希曼，740-549-6067
matt.eichmann@greif.com
