Company: PRMB
Filing Date: 2025-02-07
Form Type: S-1/A
Source: 0001193125-25-022806
Chunk: 115

Company: Primo Brands Corp
Filing Date: 2025-02-07
Form: S-1/A
Chunk 115
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 |  Period from 
   January 1, 
 2021 through 
    March 31, 
         2021 |   |
|:-------------------|:----------------|:----------|-------------:|:--|:----|:--|-------------:|:--|:----|:------------|-------------:|:--|
| Net sales          |                 | $         |      1,049.6 |   |     | $ |        738.2 |   |     | $           |        213.5 |   |
| Operating income   |                 |           |         55.6 |   |     |   |         45.6 |   |     |             |          4.0 |   |
| Operating margin % |                 |           |          5.3 | % |     |   |          6.2 | % |     |             |          1.9 | % |

During the year ended December 31, 2022, net sales were $1,049.6 million compared to $738.2 million for the 2021 Successor Period and $213.5 million for the 2021 Predecessor Period, which change was primarily driven by the impact of price increases taken throughout 2022 and, to a lesser extent, an increase in volume. During the year ended December 31, 2022, operating income was $55.6 million compared to $45.6 million for the 2021 Successor Period and $4.0 million for the 2021 Predecessor Period, which change was primarily driven by the impact of price increases, offset by the impact of general cost inflation. Liquidity and Capital Resources Historical Sources and Uses of Liquidity and Capital Resources BlueTriton’s principal liquidity requirements were for working capital and general corporate purposes, including capital expenditures and debt service, dividends, and acquisitions. BlueTriton historically funded its operations and acquisitions primarily through debt financing and cash provided by operating activities. As of September 30, 2024, BlueTriton had $176.7 million of cash on hand (of which $1.9 million was restricted) and had access to a $350.0 million BlueTriton ABL Credit Facility (availability of $298.0 million, net of outstanding letters of credit of $52.0 million). The terms of the BlueTriton Senior Secured Credit Facilities and BlueTriton Senior Notes (as