Company: PRMB
Filing Date: 2025-01-24
Form Type: S-1
Source: 0001193125-25-012325
Chunk: 128

Company: Primo Brands Corp
Filing Date: 2025-01-24
Form: S-1
Chunk 128
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 Acquisition and integration expenses increased to $26.6 million from $6.0 million in the prior year                                                                                                                                                     
 period due primarily to higher legal and other professional fees related to the Transaction compared to the prior year period, partially offset by lower integration costs compared to the prior year period. Acquisition and integration expenses as a 
 percentage of revenue was 1.8% compared to 0.5% in the prior year period;                                                                                                                                                                               |

| • |     | Gain on sale of property decreased to $0.5 million from $5.3 million in the prior year period due to                                 
 lower gains resulting from sale transactions for owned real properties in the current year period compared to the prior year period; |

| • |     | Other expense, net was $1.2 million compared to Other income, net of $3.7 million in the prior year                                                                                                                             
 period due primarily to unrealized foreign exchange losses in the current period compared to unrealized foreign exchange gains in the prior year period and a favorable insurance settlement received in the prior year period; |

| • |     | Income tax expense was $37.4 million on pre-tax income of                                                                                                                              
 $107.6 million compared to income tax expense of $21.0 million on pre-tax income of $71.5 million in the prior year period due primarily to increased income in taxable jurisdictions; |

| • |     | Adjusted EBITDA increased to $331.5 million compared to $285.8 million in the prior year period due to 
 the items listed above; and                                                                            |

| • |     | Cash flows provided by operating activities was $255.7 million compared to cash flows provided by operating                                                                                      
 activities of $222.2 million in the prior year period. The $33.5 million increase was due primarily to improved earnings, excluding non-cash charges, partially offset by lower cash provided by 
 working capital in the current year period relative the prior year period.                                                                                                                       |

83

Summary Financial Results for the Fiscal Year Ended December 30, 2023 Net income from continuing operations in 2023 was $63.8 million or $0.40 per diluted common share, compared with net income from continuing operations of $58.7 million or $0.36 per diluted common share, in 2022. The following items of significance affected Primo Water’s 2023 financial results:

| • |     | Net revenue increased to $1,771.8 million in 2023 compared to $1