Wildpack continues to break records
Wildpack achieved a record for equivalent standard 12-ounce can throughput of 20.1 million cans in July 2022.
This represented a 7.6% month-over-month increase. Wildpack’s throughput results, which include cans and can equivalents, are trending towards profitability and positive cashflow.
In the month, can decorating, can filling, sleeve printing, and brokering operations all had throughputs above Wildpack’s reported first quarter throughput.
Can decorating achieved 3.9 million units, the second highest throughput in the Company’s history.
Can filling achieved 865 thousand units, in line with first quarter monthly averages. Printing operations achieved 2.8 million units produced, the second highest monthly throughput since the initiation of printing services in December 2021.
Can brokering increased 18% MoM while the add-on business of packaging sales increased 4.7% MoM.
Wildpack’s total sales orders for the month of July were 115, with 16 new customer conversions.
As reported in Wildpack’s first quarter 2022 financials, plant utilisation was 15.8%, while July increased 47% over these first quarter averages, to 23.3%, as part of the trend toward our medium-term operational goals.
Production line yields have remained above 90% for the duration of the month despite the increase in utilisation. Wildpack’s brokering division secured its first multi-year contract to supply more than 50 million printed cans and can ends to a single customer on an annual basis.
Mitch Barnard, Chief Executive Officer commented: “When we purchased Land & Sea, we saw the segment as a much-needed complement to our existing co-pack, fill and decorate business. Can and package brokering presents the least capital intensive, highest scalability segment of our complementary business and we are seeing sustainable demand.
“We continue to work towards optimal domestic can supply contracts, which will elevate that business even further and enhance our vertically integrated value proposition of co-pack, fill, decorate, broker and logistics as we importantly continue to meet and exceed customer needs.”