Wildpack achieves record monthly figures
Wildpack Beverage Inc, a US national beverage co-packer and packaging supplier has announced record June production.
Mitch Barnard, Chief Executive Officer commented, “We are proud of the agility and grit demonstrated by The Pack in June. We made significant leadership changes in the last couple of months putting the remaining leaders directly into the action.
“This in-the-trench bias has achieved the desired outcome, being a positive build in utilisation and elevated business levels. There most certainly will be speed bumps as we continue to drive structural and operational change, however the trend is strongly positive with higher highs and higher lows.”
June Operations Update
June equivalent standard 12-ounce can throughput was 18.7 million, a month-over-month (“MoM“) increase of 18%. Wildpack’s throughput results, which include cans and can equivalents, are trending towards profitability and positive cashflow.
In June, can decorating, can filling and sleeve printing operations all achieved new record throughput. Can decorating achieved 6.4 million units, a 98% MoM improvement, can filling achieved 1.4 million units, a 17% MoM improvement, and printing operations continued to improve, with 4.0 million units produced along with several single day records.
Can brokering increased 18% MoM while the add on business of packaging sales decreased 47% MoM due to customers drawing down their existing packaging inventory. Wildpack’s total sales orders for the month of June set a record of 153, a 26% MoM improvement, with 24 new customer conversions.
As reported in Wildpack’s first quarter financials, plant utilisation was 15.8%, whereas in June this dramatically improved to 37.8%, an increase of 139% from first quarter averages, and a 76% MoM improvement, all trending toward our operational goals. Production line yields have remained above 90% for the duration of the month despite the increase in utilisation.