AptarGroup (ATR) Jefferies Global Healthcare Conference 2026 summary

Business Overview and Strategic Positioning

• Operates globally in over 20 countries, leading in drug and consumer product dosing, dispensing, and protection technologies across pharma, beauty, closures, food, beverage, and personal/home care segments.

• Recognized for sustainability leadership, valued by customers and employees, and maintains a strong balance sheet with leverage at 1.4x EBITDA and a 32-year record of increasing dividends.

• No single product or geography dominates growth, supporting resilience and long-term revenue expansion.

Financial Performance and Capital Allocation

• Generated $3.8 billion in 2025 revenue: Pharma $1.7B (46%), Beauty $1.3B (35%), Closures $730M (19%).

• Adjusted EBITDA margins for 2025: Pharma 35.0%, Beauty 12.1%, Closures 16.0%.

• Returned $1.2 billion to shareholders over five years via dividends and buybacks; two-thirds of capital reinvested into core operations and growth initiatives.

• Free cash flow and ROIC are key metrics for evaluating operational efficiency and capital deployment.

Segment Performance and Growth Drivers

• Pharma is the largest and fastest-growing segment, contributing about 70% of adjusted EBITDA, with proprietary drug delivery systems accounting for 71% of pharma sales.

• Beauty segment generated $1.3 billion in 2025, with 2% core sales growth and 12% EBITDA margin; growth expected in 2026.

• Closures segment, formed in 2023, saw 1% core sales growth in 2025, with product sales up 4% and margin improvement initiatives underway.

• Repeat business constitutes about 90% of pharma revenue, with pipeline launches contributing the remainder.

• Pharma packaging TAM is $165 billion with a 7% projected growth rate; beauty and closures TAMs are $38 billion (4%) and $7 billion (2%), respectively.