Company: PRMB
Filing Date: 2025-01-24
Form Type: S-1
Source: 0001193125-25-012325
Chunk: 105

Company: Primo Brands Corp
Filing Date: 2025-01-24
Form: S-1
Chunk 105
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  |     |             |       (200.5 | )  |
| Benefit from income taxes                           |     |           |        (53.1 | ) |     |   |        (41.2 | )  |     |             |        (51.4 | )  |
| Net loss                                            |     | $         |       (126.7 | ) |     | $ |       (160.6 | )  |     | $           |       (149.1 | )  |

Net Sales During the year ended December 31, 2022, net sales were $4,441.1 million compared to $3,076.9 million for the 2021 Successor Period and $834.6 million for the 2021 Predecessor Period, which change was primarily driven by the impact of price increases in Retail and ReadyRefresh segments throughout 2022, and, to a lesser extent, by volume growth in the ReadyRefresh segment. Cost of Sales During the year ended December 31, 2022, cost of sales was $3,446.9 million compared to $2,440.1 million for the 2021 Successor Period and $615.3 million for the 2021 Predecessor Period, which change was primarily driven by higher costs per unit from freight, fuel, and packaging materials and, to a lesser extent, from the lease expense related to the sale and leaseback transaction that was completed in the fourth quarter of 2021. Partially offsetting these increases was a lower depreciation and amortization due to fully depreciated assets resulting from purchase accounting. Gross Profit and Gross Margin During the year ended December 31, 2022, gross profit was $994.2 million compared to $636.8 million for the 2021 Successor Period and $219.3 million for the 2021 Predecessor Period, and gross margin as a percentage of net sales was 22.4% for the year ended December 31, 2022 compared to 20.7% and 26.3% for the 2021 Successor Period and 2021 Predecessor Period, respectively, which changes were primarily driven by a phase-inof price increases implemented during 2022 to offset cost inflation. 69

Selling, General and Administrative Expenses

Selling, general and administrative expenses during the year ended December 31, 2022 were $887.0 million compared to
$601.3 million for