Company: PRMB
Filing Date: 2025-02-07
Form Type: S-1/A
Source: 0001193125-25-022806
Chunk: 120

Company: Primo Brands Corp
Filing Date: 2025-02-07
Form: S-1/A
Chunk 120
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 2024, compared to $198.8 million for the nine months ended September 30, 2023. Improvement for the 2024 period was primarily due to a $98.3 million reduction in the use of cash from working capital and a $60.6 million increase in net income. Net cash used in investing activities was $130.4 million for the nine months ended September 30, 2024, compared to $171.3 million for the nine months ended September 30, 2023. The decrease was primarily due to lower capital expenditures during the current period. Net cash used in financing activities for the nine months ended September 30, 2024 was $109.7 million, compared to $19.7 million for the nine months ended September 30, 2023. The increased use of cash is primarily due to the net $90.0 million repayment of the BlueTriton ABL Credit Facility during 2024. During the nine months ended September 30, 2023, BlueTriton issued the 2024 Incremental Term Loans for net proceeds of $392.0 million, offset by a dividend payment of $382.7 million and principal debt repayments. Year Ended December 31, 2023 Compared to Year Ended December 31, 2022 Net cash provided by operating activities was $320.9 million for the year ended December 31, 2023 as compared to $108.4 million for the year ended December 31, 2022, an increase of $212.5 million. Improvement in fiscal year 2023 was primarily due to an improvement in net income of $219.5 million when compared to fiscal year 2022, partially offset by an increase in working capital usage. Net cash used in investing activities was $217.6 million for the year ended December 31, 2023, compared to $319.4 million for the year ended December 31, 2022, a decrease of $101.8 million. The decrease was primarily related to lower capital expenditures to improve operations and expand capacity. In addition, the higher capital expenditures in fiscal year 2022 related to BlueTriton’s initial IT platform implementation during that period. 75

Net cash used in financing activities for the year ended December 31, 2023 was
$162.3 million, compared to $147.7 million for the year ended December 31, 2022, an increase of $14