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Wildpack Beverage Announces Quarter 1, 2024 Highlights and Reports Q4 and Annual 2023 Financial Results

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Wildpack Beverage Inc. reported strong financial performance in Q1 2024 with confirmed customer orders of $17.0 million and total throughput of 66.60 million cans. The Company also highlighted a 41% revenue growth in Q4 2023 to $13.74 million and a 24% increase in total volume compared to the previous quarter. Fiscal Year 2023 saw revenue of $56.31 million and a 4-Year Supply Agreement with Ball

Wildpack Beverage Inc. ha registrato un'ottima performance finanziaria nel primo trimestre del 2024 con ordini confermati per un valore di 17 milioni di dollari e una produzione totale di 66,60 milioni di lattine. L'azienda ha inoltre registrato una crescita del fatturato del 41% nel quarto trimestre del 2023, raggiungendo i 13,74 milioni di dollari e un incremento del 24% nel volume totale rispetto al trimestre precedente. L'anno fiscale 2023 ha visto un fatturato di 56,31 milioni di dollari e un accordo quadriennale di fornitura con Ball.
Wildpack Beverage Inc. reportó un fuerte desempeño financiero en el primer trimestre de 2024 con pedidos confirmados de $17.0 millones y un rendimiento total de 66.60 millones de latas. La compañía también destacó un crecimiento en los ingresos del 41% en el cuarto trimestre de 2023 a $13.74 millones y un aumento del 24% en el volumen total comparado con el trimestre anterior. El año fiscal 2023 registró ingresos de $56.31 millones y un Acuerdo de Suministro de 4 años con Ball.
와일드팩 베버리지 인크는 2024년 1분기에 강력한 재무 실적을 보고했으며, 확정 고객 주문이 1700만 달러이고 총 처리량이 6660만 캔에 이른다고 밝혔다. 또한 회사는 2023년 4분기에 수익이 41% 증가하여 1374만 달러에 이르렀으며, 전 분기 대비 총 볼륨이 24% 증가했다. 2023 회계 연도에는 5631만 달러의 수익과 발과의 4년 공급계약을 체결했다.
Wildpack Beverage Inc. a enregistré de fortes performances financières au premier trimestre 2024, avec des commandes clients confirmées de 17 millions de dollars et un total de 66,60 millions de canettes traitées. La société a également signalé une croissance des revenus de 41% au quatrième trimestre 2023, atteignant 13,74 millions de dollars, et une augmentation de 24% du volume total par rapport au trimestre précédent. L'année fiscale 2023 a vu des revenus de 56,31 millions de dollars et un accord de fourniture de quatre ans avec Ball.
Wildpack Beverage Inc. verzeichnete im ersten Quartal 2024 eine starke finanzielle Leistung mit bestätigten Kundenbestellungen im Wert von 17 Millionen Dollar und einer Gesamtdurchlaufmenge von 66,60 Millionen Dosen. Das Unternehmen verzeichnete auch ein Umsatzwachstum von 41% im vierten Quartal 2023 auf 13,74 Millionen Dollar und eine Steigerung des Gesamtvolumens um 24% im Vergleich zum Vorquartal. Das Geschäftsjahr 2023 erzielte einen Umsatz von 56,31 Millionen Dollar und einen Vierjahresliefervertrag mit Ball.
Positive
  • Strong Q1 2024 financial performance with $17.0 million in confirmed customer orders and total throughput of 66.60 million cans.

  • Q4 2013 revenue grew by 41% to $13.74 million with a 24% increase in total volume.

  • Fiscal Year 2023 revenue reached $56.31 million with a significant 4-Year Supply Agreement with Ball

Negative
  • Net loss of $9.88 million in Q4 2013 and $26.92 million for the fiscal year 2023.

  • Gross profit was negative in Q4 2013 and only reached $3.36 million for the fiscal year 2023.

Q1 2024 Highlights (in USD):

  • Confirmed Customer Orders: $17.0 million
  • Confirmed Sales Orders: 978
  • New Customer Conversions: 102
  • Total Throughput: 66.60 million cans
  • Decoration Throughput: 6.23 million cans
  • Filling Throughput: 4.14 million cans
  • Printed Sleeve Throughput: 6.83 million sleeves
  • Brokering Throughput: 49.40 million cans
  • Plant Utilization: 20.5%

VANCOUVER, BC / ACCESSWIRE / April 30, 2024 / Wildpack Beverage Inc. (TSXV:CANS) (" Wildpack Beverage " or the " Company ") a leading middle market co-packer of canned goods announced key performance indicators (all currency amounts in USD) for Quarter 1, 2024. The Company reported confirmed customer sales orders amounting to $17.04 million, with confirmed sales orders reaching 978. The current 12-month run rate for customer confirmed orders is $83.41 million.

Wildpack Beverage's total throughput was 66.60 million8 cans. The Company decorated 6.23 million cans and filled 4.41 million cans. Wildpack Beverage printed 6.83 million sleeves and brokered 49.40 cans.

Wildpack maintained utilization levels of 20.5% in a quarter that typically experiences seasonal cyclicality. Wildpack achieved strong Brokering sales in Q1 2024 and the Customer Confirmed Orders, adjusted for cancelled orders, represented an all-time high.

"We achieved some key milestones in brokering and overall sales as forward indicators for a strong 2024" expressed Mitch Barnard, CEO of Wildpack Beverage. "Our strong vendor partnerships and changes we have made in production have made Wildpack the most competitive and reliable we have ever been."

Fourth Quarter 2023 Highlights:

  • Revenue for the quarter grew 41% to $13.74 million compared to $9.76 million in the prior quarter
  • Total volume for the quarter grew 24% to 78.3 million cans compared to 63.0 million cans the prior quarter
  • Production capacity utilization for the quarter grew 7.6%, from 28.8% to 36.4% quarter over quarter

Fiscal Year 2023 Highlights:

  • Revenue of $56.31 million
  • Total Volume of 383.2 million units
  • 4-Year Supply Agreement with Ball Corporation
  • Production volume utilization increased to 40.4% from 25.2% in the prior year
Three months ended Year ended
In $'000' s
December
31,
December
31,
December
31,
December
31,
2023 2022 2023 2022
Income Statement Data
Revenue
$13,735 $9,763 $56,305 $28,281
Gross profit
(1,019) (2,524) 3,358 (2,584)
Net loss
(9,883) (18,344) (26,915) (36,645)
Balance Sheet Data
Total assets
53,932 53,703 53,932 53,703
Total lease liabilities and debt
$64,033 $43,925 $64,033 $43,925

Per: "Mitch Barnard"
Mitch Barnard
Chief Executive Officer and Director

For further information, please contact us at:

invest@wildpackbev.com

or

Elijah Clare
Vice President, Investor Relations
elijah@wildpackbev.com

Advisors

Fasken Martineau DuMoulin LLP is the legal advisor to Wildpack Beverage Inc.
PGP Capital Advisors, LLC is the financial advisor to Wildpack Beverage Inc.

Visit our investor website at:

https://investor.wildpackbev.com

About Wildpack Beverage

Wildpack Beverage provides beverage manufacturing and packaging to the middle market by providing sustainable aluminum can filling, decorating, packaging, brokering, sleeve/label printing services, and logistics to brands throughout the United States. Wildpack Beverage operates indirectly through its wholly owned subsidiaries and out of five facilities in Baltimore, Maryland; Grand Rapids, Michigan; Atlanta, Georgia; Sacramento, California; and Las Vegas, Nevada with a focus on digital innovation and green ready-to-drink packaging. Wildpack Beverage commenced trading on the TSX Venture Exchange under the symbol "CANS" on May 19, 2021.

Cautionary Statement on Forward Looking Information

This news release may contain "forward-looking statements" within the meaning of applicable Canadian securities laws, including, but not limited to, statements with respect to the timing, review, completion and filing of the Required Filings, Wildpack Beverage's plans, investments, anticipated revenue from manufacturing agreements, plans to build additional facilities, financial performance and operating performance, anticipated growth in co-packing business, the estimation of revenue, the timing and targets of M&A activity, costs, future capital expenditures, and the success of scaling up production. Forward-looking statements are based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive risks including but not limited to: the risk of the Company not filing the Required Filings on time, risks related to the successful integration of acquisitions; risks related to operations; risks related to general economic conditions and credit availability, ability to obtain sufficient and suitable financing, actual results of current production and decorating, fluctuations in prices of aluminum; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the co-packaging industry; delays in the completion of capex activities, changes in national and local government regulation of manufacturing operations and labour laws particularly in light of the COVID pandemic, tax rules and regulations, and political and economic developments where Wildpack Beverage operates. These statements generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe", or "continue", or the negative thereof or similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of Wildpack Beverage to be materially different from any future results, performance, or achievements expressed, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. Forward-looking statements expressed or implied by Wildpack Beverage are subject to a number of risks, uncertainties, and conditions, many of which are outside of Wildpack Beverage's control, and undue reliance should not be placed on such statements. Although Wildpack Beverage has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Forward-looking statements are qualified in their entirety by the inherent risks and uncertainties related to Wildpack's business, including that Wildpack Beverage's assumptions in making forward-looking statements may prove to be incorrect; delays in filing of financial information; adverse market conditions; risks inherent in the beverage manufacturing and packaging sector in general; that future results may vary from historical results; and competition in the markets where Wildpack Beverage operates. Except as required by securities law, Wildpack Beverage does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Wildpack Beverage Inc.



View the original press release on accesswire.com

FAQ

What were Wildpack Beverage's confirmed customer orders in Q1 2024?

In Q1 2024, Wildpack Beverage reported confirmed customer orders amounting to $17.0 million.

What was the revenue growth in Q4 2013 for Wildpack Beverage?

Wildpack Beverage experienced a 41% revenue growth in Q4 2013, reaching $13.74 million.

What was the total revenue for Wildpack Beverage in Fiscal Year 2023?

Wildpack Beverage's revenue for Fiscal Year 2023 amounted to $56.31 million.

What was the net loss for Wildpack Beverage in Q4 2013?

Wildpack Beverage reported a net loss of $9.88 million in Q4 2013.

What was the gross profit for Wildpack Beverage in Fiscal Year 2023?

Wildpack Beverage's gross profit for Fiscal Year 2023 was $3.36 million.

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