AptarGroup (ATR) investor relations material

Business Overview and Strategic Positioning

• Operates globally in 20 countries, generating $3.8B revenue in 2025; Europe is the largest region, with 46% from pharma, 35% beauty, and 19% closures.

• Recognized as a global leader in dosing, dispensing, and protection technologies, with a diversified portfolio and strong sustainability credentials.

• Holds over 7,300 patents and invests ~3% of sales in R&D, primarily focused on pharma innovation.

• Maintains a strong balance sheet and low leverage, with a long-term target of 1-3x and $1.2B returned to shareholders over five years.

• End markets are growing: pharma packaging TAM $165B (7% growth), with beauty and closures also showing secular tailwinds.

Financial Performance and Capital Allocation

• Achieved $3.8B in 2025 revenue: pharma $1.7B, beauty $1.3B, closures $730M.

• Adjusted EBITDA margins for 2025: pharma 35.0%, beauty 12.1%, closures 16.0%.

• Core sales growth in 2025: pharma 3%, beauty 2%, closures 1%.

• Two-thirds of capital reinvested into core operations, especially pharma; one-third returned to shareholders via dividends and buybacks.

• Emphasizes organic growth, strategic acquisitions, and high-value partnerships.

Pharma Segment and Pipeline

• Pharma is the main growth engine, representing 46% of revenue and 69% of adjusted EBITDA, with 71% of pharma revenue from proprietary drug delivery systems.

• Historical pharma CAGR of 9% over 10 years; long-term target growth of 7%-11% supported by a robust, diversified pipeline.

• Pipeline covers respiratory, biologics, injectables, and systemic nasal drug delivery, with nose-to-brain therapies as a key future area.

• Repeat business accounts for 90% of pharma revenue, with pipeline launches adding incremental growth.

• Emergency medicine (NARCAN) saw rapid growth due to the opioid crisis, but destocking is causing a $65M headwind in 2026, mostly in H1; margins remain strong.