Company: PRMB
Filing Date: 2025-01-24
Form Type: S-1
Source: 0001193125-25-012325
Chunk: 107

Company: Primo Brands Corp
Filing Date: 2025-01-24
Form: S-1
Chunk 107
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.17%.

Benefit from Income Tax

During the year ended December 31, 2022, the income tax benefit was $53.1 million compared to $41.2 million for the 2021
Successor Period and $51.4 million for the 2021 Predecessor Period, which change was primarily related to a lower loss before taxes in 2022 compared to the period year periods, partially offset by permanent differences related to transaction
costs in the prior periods.

Net Loss

The net loss for the year ended December 31, 2022 was $126.7 million, an improvement of $183.0 million as compared to
$309.7 million for the combined 2021 Successor Period and 2021 Predecessor Period, due to the factors mentioned above.

70

Segment Results Retail

|                    | ($ in millions) | Successor |   Year Ended 
 December 31, 
         2022 |   |     |   |  Period from 
  February 3, 
 2021 through 
 December 31, 
         2021 |   |     | Predecessor |  Period from 
   January 1, 
 2021 through 
    March 31, 
         2021 |   |
|:-------------------|:----------------|:----------|-------------:|:--|:----|:--|-------------:|:--|:----|:------------|-------------:|:--|
| Net sales          |                 | $         |      3,391.5 |   |     | $ |      2,338.7 |   |     | $           |        621.1 |   |
| Operating income   |                 |           |         87.2 |   |     |   |         20.1 |   |     |             |          1.8 |   |
| Operating margin % |                 |           |          2.6 | % |     |   |          0.9 | % |     |             |          0.3 | % |

During the year ended December 31, 2022, net sales were $3,391.5 million compared to $2,338.7 million for the 2021 Successor Period and $621.1 million for the 2021 Predecessor Period, which change was primarily driven by the impact of price increases and, to a lesser extent, volume growth. During