Company: GEF
Filing Date: 2025-11-19
Form Type: 10-KT
Source: 0001628280-25-053146
Chunk: 52

Company: GREIF, INC
Filing Date: 2025-11-19
Form: 10-KT
Chunk 52
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board Business, which was previously reported under the Sustainable Fiber Solutions segment, is presented as discontinued operations. Our allocation of corporate expenses to each continued reportable segment was updated to reflect how management measures performance and allocates resources with the Containerboard Business being excluded from continuing operations.

Customized Polymer Solutions

Net sales were $1,135.1 million for 2024 compared with $917.1 million for 2023. The $218.0 million increase was primarily due to contributions from acquisitions of $213.7 million.

Gross profit was $222.7 million for 2024 compared with $210.8 million for 2023. The $11.9 million increase was primarily due to the same factor that impacted net sales. Gross profit margin was 19.6 percent for 2024 compared with 23.0 percent for 2023. The decrease in gross profit margin was primarily due to higher raw material input costs.

Operating profit was $39.1 million for 2024 compared with $96.2 million for 2023. The $57.1 million decrease was primarily due to higher SG&A expenses related to acquisitions, partially offset by the same factors that impacted gross profit. Adjusted EBITDA was $138.9 million for 2024 compared with $148.9 million for 2023. The $10.0 million decrease was primarily due to higher SG&A expenses related to acquisitions, excluding impacts from depreciation and amortization, partially offset by the same factors impacted gross profit.

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Durable Metal Solutions

Net sales were $1,602.1 million for 2024 compared with $1,631.7 million for 2023. The $29.6 million decrease was primarily due to $35.8 million of negative foreign currency translation impacts, partially offset by $8.1 million attributable to higher volumes.

Gross profit was $319.2 million for 2024 compared with $308.6 million for 2023. The $10.6 million increase was primarily due to lower raw material costs, partially offset by the same factors that impacted net sales. Gross profit margin was 19.9 percent for 2024 compared with 18.9 percent for 2023.

Operating profit was $134.9 million for 2024 compared with $143.1 million for 2023. The $8.2 million decrease was primarily due to higher SG&A expenses related to higher compensation