Diversey Holdings reported a net sales growth of 2% compared to 2019 pre-COVID-19 levels, despite a 3.6% decline from 2020 due to stringent lockdowns. The company's net loss for Q1 2021 was $95.7 million, primarily due to IPO-related costs. However, adjusted net income rose by 20.9% to $27.2 million compared to Q1 2020. Adjusted EBITDA also improved, reaching $92.7 million, with an enhanced margin of 14.7%. Diversey's CEO expressed optimism about future growth as markets are expected to reopen. The company remains focused on cost management and delivering quality products.
Diversey Holdings, Ltd. (Nasdaq: DSEY) will announce its first quarter 2021 financial results on May 14, 2021, before the market opens. Following the release, management will conduct a conference call at 8:30 am ET to discuss the financial outcomes. Interested parties can access the call via phone or a live webcast. An audio replay will be available later that day. With a 95-year legacy, Diversey focuses on hygiene and infection prevention solutions aimed at safeguarding health and environmental standards.
Diversey Holdings, Ltd. (NASDAQ: DSEY) announced the appointment of Selim Bassoul as chairman and Juan R. Figuereo to its board of directors, effective March 25, 2021. These additions expand the board to nine members. Bassoul, with a strong background in foodservice and hospitality, previously led The Middleby Corporation, significantly scaling its revenue and acquisitions. Figuereo brings extensive financial management experience from various industries, having served at Western Alliance Bancorp and Revlon. The company aims for continued growth and margin expansion with this strengthened leadership.
Diversey Holdings, Ltd. (Nasdaq:DSEY) announced that underwriters of its initial public offering have purchased an additional 5,000,000 ordinary shares at $15.00 each, raising net proceeds to approximately $723 million. This brings the total ordinary shares outstanding to 309,008,357. The offering was managed by Citigroup, Morgan Stanley, Barclays, and J.P. Morgan among others. The registration statement for these securities was effective as of March 24, 2021. Diversey aims to provide innovative hygiene and infection prevention solutions globally.
Diversey Holdings, Ltd. (Nasdaq:DSEY) has priced its initial public offering of 46,153,846 ordinary shares at $15.00 each, with the potential for underwriters to purchase an additional 6,923,077 shares. The offering aims to enhance the company's financial growth and liquidity, with proceeds supporting operations and strategic initiatives. Major banks like Citigroup, Morgan Stanley, and Barclays are managing the offering. The registration statement was effective as of March 24, 2021, and all sales will comply with securities regulations.