Company: SLGN
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000849869-25-000029
Chunk: 152

Company: SILGAN HOLDINGS INC
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 152
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  Year Ended December 31, 202420232022 (Dollars in millions)Net sales:Dispensing and Specialty Closures$2,304.4 $2,221.4 $2,316.7 Metal Containers2,900.7 3,140.8 3,371.8 Custom Containers649.6 626.0 723.0 Consolidated$5,854.7 $5,988.2 $6,411.5 Income before interest and income taxes:Dispensing and Specialty Closures$290.0 $281.0 $323.0 Metal Containers228.9 287.4 234.2 Custom Containers55.4 52.8 92.5 Corporate(59.2)(25.8)(47.7)Consolidated$515.1 $595.4 $602.0 

31

YEAR ENDED DECEMBER 31, 2024 COMPARED WITH YEAR ENDED DECEMBER 31, 2023

Net Sales. Consolidated net sales were $5.9 billion in 2024, representing a 2.2 percent decrease as compared to 2023 primarily due to the unfavorable impact from the pass through of lower raw material costs in the metal containers and dispensing and specialty closures segments, lower organic volumes in the dispensing and specialty closures segment and a less favorable mix of products sold in the metal containers segment. These decreases were partially offset by the inclusion of net sales from Weener Packaging, which was acquired in the fourth quarter of 2024, a more favorable mix of products sold in the dispensing and specialty closures and custom containers segments and higher volumes in the custom containers segment.

Gross Profit. Gross profit margin increased 0.7 percentage points to 17.3 percent in 2024 as compared to 16.6 percent in 2023 for the reasons discussed below in “Income before Interest and Income Taxes.”

Selling, General and Administrative Expenses. Selling, general and administrative expenses as a percentage of consolidated net sales increased 1.1 percentage point to 7.5 percent for 2024 as compared to 6.4 percent in 2023. Selling, general and administrative expenses increased $53.7 million in 2024 as compared to 2023.  The increase in selling, general and administrative expenses was primarily due to $28.4 million of costs attributed