Recent Quarterly Results
Transcontinental Inc. announces its financial results for fiscal 2018
December 13, 2018
François Olivier, President and
Chief Executive Officer,
"I am proud of our financial results for 2018, a landmark year for our company as we completed the transformational acquisition of Coveris Americas, said François Olivier, President and Chief Executive Officer of TC Transcontinental. We rigorously executed our business strategy to propel our growth while reporting the highest profitability in our history for a fourth consecutive year.
"In the Packaging Sector, we invested close to $1.8 billion in strategic acquisitions that elevated the Corporation to the leader ranks in flexible packaging in North America. We thus recorded a significant increase in our financial results, particularly as a result of Coveris Americas' performance. We also remain on track in terms of the targets we established at the time of this transaction and are continuing the integration of our activities while staying focused on realizing expected synergies.
"On the printing side, we are very satisfied with our 2018 results. Once again, this sector had a strong year, both in terms of revenues and profitability. In fact, excluding the non-cash effect of the end of the recognition of deferred revenues related to certain newspapers, our profitability was similar to that of 2017. In addition, the demand for our integrated service offering to retailers remained relatively stable, demonstrating that it creates value for our customers.
"In summary, 2018 was a successful year, and we will pursue the implementation of our long-term plan on a solid foundation. We also expect to continue generating significant cash flows from our operating activities, which will first be allocated to reducing our indebtedness."