Pact Group Holdings Ltd. announced earnings results for the year 2018. Group sales revenue of AUD 1.7 billion increased 13.5% compared to the prior year, driven primarily by transformational growth initiatives including the Group's new crate pooling business in Australia and the Asian acquisition completed in the second half of the year. These important growth initiatives performed well in the period. Group EBITDA before significant items of AUD 237 million was 2% ahead of the prior year. EBIT for the year of AUD 165 million was 3% lower than the prior year with higher depreciation and amortisation from acquisitions and the new crate pooling business. Net profit after tax (NPAT) before significant items was AUD 95 million, 5% lower than FY17, and statutory NPAT was AUD 74.5M compared to AUD 90.3 million in the prior year.

Earnings for the first half of FY2019 are expected to be weaker than the pcp, adversely impacted by on-going lags in recovering higher than anticipated resin costs and higher costs for contract manufacturing materials. Based on projected run rate for the first half, EBITDA for FY2019 would be around AUD 245 million, compared to AUD 237 million in the pcp. EBITDA would be skewed to the second half with higher benefits from efficiency programs and a full 6-month contribution from TIC.