Winpak (WPK) investor relations material

Executive summary

• Revenue for Q4 2025 was $284.9 million, nearly flat year-over-year, with annual revenue down 0.5% to $1,125.4 million.

• Net income for Q4 2025 was $36.2 million, a 1.2% decrease from Q4 2024; full-year net income declined 8.1% to $137.3 million.

• Gross profit margins for Q4 2025 fell to 30.5% from 32.3% in Q4 2024; annual margin was 30.4%, down 1.6 percentage points.

• Operating expenses and foreign exchange movements partially offset lower gross profit, while net finance income and higher personnel costs weighed on results.

Financial highlights

• EBITDA for Q4 2025 was $61.1 million, down from $62.2 million in Q4 2024; full-year EBITDA was $231.6 million, down from $240.8 million.

• Basic and diluted EPS for Q4 2025 was 60 cents, up from 58 cents in Q4 2024; full-year EPS was 225 cents, down from 235 cents.

• Cash and cash equivalents at year-end were $375.6 million, down $121.6 million from the prior year.

• Operating cash flow before working capital changes was $226.1 million for the year.

• Capital expenditures totaled $84.9 million, mainly for facility expansion.

Outlook and guidance

• Anticipates 2–4% sales volume growth in 2026, driven by new extrusion capacity and sustainability-focused products.

• Expects gross profit margins of 30–31% in 2026, assuming stable raw material prices and no major trade disruptions.

• Plans $80–100 million in capital expenditures for 2026, targeting capacity and automation.

• Will continue to pursue synergistic acquisitions, especially in medical and pharmaceutical packaging.