AptarGroup 8K Regulation FD Disclosure | ATR 13 Apr 23

Exhibit 99.1

AptarGroup, Inc.

Revenue by Segment & Geography (Unaudited)

($ In Thousands)

Revenue by segment and geography based on shipped from locations for each of the quarterly periods of 2022 is as follows:


	For the Three Months Ended March 31, 2022
Segment	Europe		Domestic		Latin America		Asia		Total
Aptar Pharma	$	211,007	$	106,341	$	7,855	$	17,259	$	342,462
Aptar Beauty	187,759		69,380		29,690		22,251		309,080
Aptar Closures	56,365		104,284		20,199		12,542		193,390
Total	$	455,131	$	280,005	$	57,744	$	52,052	$	844,932


	For the Three Months Ended June 30, 2022
Segment	Europe		Domestic		Latin America		Asia		Total
Aptar Pharma	$	209,118	$	108,414	$	6,339	$	16,360	$	340,231
Aptar Beauty	182,934		79,819		32,452		22,462		317,667
Aptar Closures	52,913		100,569		20,351		12,812		186,645
Total	$	444,965	$	288,802	$	59,142	$	51,634	$	844,543


	For the Three Months Ended September 30, 2022
Segment	Europe		Domestic		Latin America		Asia		Total
Aptar Pharma	$	212,751	$	105,542	$	6,309	$	18,795	$	343,397
Aptar Beauty	169,936		75,070		35,195		22,845		303,046
Aptar Closures	54,146		99,198		21,777		15,296		190,417
Total	$	436,833	$	279,810	$	63,281	$	56,936	$	836,860


	For the Three Months Ended December 31, 2022
Segment	Europe		Domestic		Latin America		Asia		Total
Aptar Pharma	$	203,571	$	106,104	$	6,572	$	18,919	$	335,166
Aptar Beauty	182,911		59,783		31,005		19,043		292,742
Aptar Closures	49,984		85,655		17,719		14,648		168,006
Total	$	436,466	$	251,542	$	55,296	$	52,610	$	795,914

Revenue by segment and geography based on shipped from locations for the years ended December 31, 2022 and 2021 is as follows:


	For the Year Ended December 31, 2022
Segment	Europe		Domestic		Latin America		Asia		Total
Aptar Pharma	$	836,447	$	426,401	$	27,075	$	71,333	$	1,361,256
Aptar Beauty	723,540		284,052		128,342		86,601		1,222,535
Aptar Closures	213,408		389,706		80,046		55,298		738,458
Total	$	1,773,395	$	1,100,159	$	235,463	$	213,232	$	3,322,249


	For the Year Ended December 31, 2021
Segment	Europe		Domestic		Latin America		Asia		Total
Aptar Pharma	$	830,552	$	374,063	$	21,482	$	58,527	$	1,284,624
Aptar Beauty	675,079		300,658		117,920		88,189		1,181,846
Aptar Closures	219,551		407,102		76,641		57,457		760,751
Total	$	1,725,182	$	1,081,823	$	216,043	$	204,173	$	3,227,221

AptarGroup, Inc.

Segment Information (Unaudited)

($ In Thousands)

Financial information regarding our reporting segments for each of the quarterly periods of 2022 is as follows:


Three Months Ended	March 31		June 30		September 30		December 31
Total Sales:
Aptar Pharma	$	346,672	$	345,369	$	345,079	$	335,329
Aptar Beauty	315,368		323,794		308,353		298,503
Aptar Closures	196,068		189,166		192,706		170,115
Total Sales	$	858,108	$	858,329	$	846,138	$	803,947
Less: Intersegment Sales:
Aptar Pharma	$	4,210	$	5,138	$	1,682	$	163
Aptar Beauty	6,288		6,127		5,307		5,761
Aptar Closures	2,678		2,521		2,289		2,109
Total Intersegment Sales	$	13,176	$	13,786	$	9,278	$	8,033
Net Sales:
Aptar Pharma	$	342,462	$	340,231	$	343,397	$	335,166
Aptar Beauty	309,080		317,667		303,046		292,742
Aptar Closures	193,390		186,645		190,417		168,006
Net Sales	$	844,932	$	844,543	$	836,860	$	795,914
Adjusted EBITDA (1):
Aptar Pharma	$	115,552	$	111,006	$	107,235	$	107,829
Aptar Beauty	34,550		41,230		36,563		39,544
Aptar Closures	24,183		21,354		23,483		17,089
Corporate & Other, unallocated	(17,970)		(13,663)		(13,537)		(17,760)
Acquisition-related costs (2)	—		—		(231)		—
Restructuring Initiatives	(291)		(428)		(2,270)		(3,608)
Net unrealized investment (loss) gain (3)	(2,091)		(483)		277		(1,026)
Depreciation and amortization	(58,665)		(58,552)		(57,601)		(58,888)
Interest Expense	(8,930)		(11,982)		(9,756)		(10,159)
Interest Income	288		989		752		671
Income before Income Taxes	$	86,626	$	89,471	$	84,915	$	73,692

(1)We evaluate performance of our reporting segments and allocate resources based upon Adjusted EBITDA. Adjusted EBITDA is defined as earnings before net interest, taxes, depreciation, amortization, unallocated corporate expenses, restructuring initiatives, acquisition-related costs, net unrealized investment gains and losses related to observable market price changes on equity securities and other special items.

(2)Acquisition-related costs include transaction costs and purchase accounting adjustments related to acquisitions and investments.

(3)Net unrealized investment (loss) gain represents the change in fair value of our investment in PureCycle Technologies (“PCT”).

Financial information regarding our reporting segments for the years ended December 31, 2022 and 2021 is as follows:


Years Ended December 31,	2022		2021
Total Sales:
Aptar Pharma	$	1,372,449	$	1,297,996
Aptar Beauty	1,246,018		1,204,312
Aptar Closures	748,055		768,497
Total Sales	$	3,366,522	$	3,270,805
Less: Intersegment Sales:
Aptar Pharma	$	11,193	$	13,372
Aptar Beauty	23,483		22,466
Aptar Closures	9,597		7,746
Total Intersegment Sales	$	44,273	$	43,584
Net Sales:
Aptar Pharma	$	1,361,256	$	1,284,624
Aptar Beauty	1,222,535		1,181,846
Aptar Closures	738,458		760,751
Net Sales	$	3,322,249	$	3,227,221
Adjusted EBITDA (1):
Aptar Pharma	$	441,622	$	425,714
Aptar Beauty	151,887		125,451
Aptar Closures	86,109		108,615
Corporate & Other, unallocated	(62,930)		(52,314)
Acquisition-related costs (2)	(231)		(3,811)
Restructuring Initiatives	(6,597)		(23,240)
Net unrealized investment (loss) gain (3)	(3,323)		2,709
Depreciation and amortization	(233,706)		(234,853)
Interest Expense	(40,827)		(30,284)
Interest Income	2,700		3,668
Income before Income Taxes	$	334,704	$	321,655






Capital Expenditures:
Aptar Pharma	$	164,396	$	154,077
Aptar Beauty	74,203		87,442
Aptar Closures	44,223		47,225
Corporate & Other	29,491		29,686
Transfer of Corporate Technology Expenditures (4)	(1,886)		(10,495)
Capital Expenditures	$	310,427	$	307,935
Total Assets:
Aptar Pharma	$	1,872,843	$	1,833,512
Aptar Beauty	1,398,813		1,370,854
Aptar Closures	779,654		819,332
Corporate & Other	152,148		117,666
Total Assets	$	4,203,458	$	4,141,364

(4)The transfer of corporate technology expenditures represents amounts of projects managed by corporate for the benefit of specific entities within each segment. Once the projects are complete, all related costs are allocated from corporate to and paid by the appropriate entity and the associated assets are then depreciated at the entity level.

AptarGroup, Inc.

Reconciliation of Adjusted EBIT and Adjusted EBITDA to Net Income (Unaudited)

($ In Thousands)

The reconciliation of Adjusted EBIT and Adjusted EBITDA to Net Income for each of the quarterly periods of 2022 is as follows:


	Three Months Ended March 31, 2022

	Consolidated			Aptar Pharma			Aptar Beauty			Aptar Closures			Corporate & Other		Net Interest
Net Sales	$	844,932		$	342,462		$	309,080		$	193,390		$	—	$	—

Reported net income	$	62,371
Reported income taxes	24,255
Reported income before income taxes	86,626			92,206			14,008			10,646			(21,592)		(8,642)
Adjustments:
Restructuring initiatives	291			—			111			180			—
Net unrealized investment loss (1)	2,091			—			—			—			2,091
Transaction costs related to acquisitions	—			—			—			—			—
Adjusted earnings before income taxes	89,008			92,206			14,119			10,826			(19,501)		(8,642)
Interest expense	8,930														8,930
Interest income	(288)														(288)
Adjusted earnings before net interest and taxes (Adjusted EBIT)	97,650			92,206			14,119			10,826			(19,501)		—
Depreciation and amortization	58,665			23,346			20,431			13,357			1,531
Adjusted earnings before net interest, taxes, depreciation and amortization (Adjusted EBITDA)	$	156,315		$	115,552		$	34,550		$	24,183		$	(17,970)	$	—

Adjusted EBITDA margins (Adjusted EBITDA / Reported Net Sales)	18.5		%	33.7		%	11.2		%	12.5		%


	Three Months Ended June 30, 2022

	Consolidated			Aptar Pharma			Aptar Beauty			Aptar Closures			Corporate & Other		Net Interest
Net Sales	$	844,543		$	340,231		$	317,667		$	186,645		$	—	$	—

Reported net income	$	63,613
Reported income taxes	25,858
Reported income before income taxes	89,471			87,445			20,459			8,188			(15,628)		(10,993)
Adjustments:
Restructuring initiatives	428			—			423			5			—
Net unrealized investment loss (1)	483			—			—			—			483
Transaction costs related to acquisitions	—			—			—			—			—
Adjusted earnings before income taxes	90,382			87,445			20,882			8,193			(15,145)		(10,993)
Interest expense	11,982														11,982
Interest income	(989)														(989)
Adjusted earnings before net interest and taxes (Adjusted EBIT)	101,375			87,445			20,882			8,193			(15,145)		—
Depreciation and amortization	58,552			23,561			20,348			13,161			1,482
Adjusted earnings before net interest, taxes, depreciation and amortization (Adjusted EBITDA)	$	159,927		$	111,006		$	41,230		$	21,354		$	(13,663)	$	—

Adjusted EBITDA margins (Adjusted EBITDA / Reported Net Sales)	18.9		%	32.6		%	13.0		%	11.4		%


	Three Months Ended September 30, 2022

	Consolidated			Aptar Pharma			Aptar Beauty			Aptar Closures			Corporate & Other		Net Interest
Net Sales	$	836,860		$	343,397		$	303,046		$	190,417		$	—	$	—

Reported net income	$	54,177
Reported income taxes	30,738
Reported income before income taxes	84,915			83,571			14,729			10,460			(14,841)		(9,004)
Adjustments:
Restructuring initiatives	2,270			—			2,240			30			—
Net unrealized investment gain (1)	(277)			—			—			—			(277)
Transaction costs related to acquisitions	231			231			—			—			—
Adjusted earnings before income taxes	87,139			83,802			16,969			10,490			(15,118)		(9,004)
Interest expense	9,756														9,756
Interest income	(752)														(752)
Adjusted earnings before net interest and taxes (Adjusted EBIT)	96,143			83,802			16,969			10,490			(15,118)		—
Depreciation and amortization	57,601			23,433			19,594			12,993			1,581
Adjusted earnings before net interest, taxes, depreciation and amortization (Adjusted EBITDA)	$	153,744		$	107,235		$	36,563		$	23,483		$	(13,537)	$	—

Adjusted EBITDA margins (Adjusted EBITDA / Reported Net Sales)	18.4		%	31.2		%	12.1		%	12.3		%


	Three Months Ended December 31, 2022

	Consolidated			Aptar Pharma			Aptar Beauty			Aptar Closures			Corporate & Other		Net Interest
Net Sales	$	795,914		$	335,166		$	292,742		$	168,006		$	—	$	—

Reported net income	$	59,394
Reported income taxes	14,298
Reported income before income taxes	73,692			83,773			16,654			2,891			(20,138)		(9,488)
Adjustments:
Restructuring initiatives	3,608			—			2,765			843			—
Net unrealized investment loss (1)	1,026			—			—			—			1,026
Transaction costs related to acquisitions	—			—			—			—			—
Adjusted earnings before income taxes	78,326			83,773			19,419			3,734			(19,112)		(9,488)
Interest expense	10,159														10,159
Interest income	(671)														(671)
Adjusted earnings before net interest and taxes (Adjusted EBIT)	87,814			83,773			19,419			3,734			(19,112)		—
Depreciation and amortization	58,888			24,056			20,125			13,355			1,352
Adjusted earnings before net interest, taxes, depreciation and amortization (Adjusted EBITDA)	$	146,702		$	107,829		$	39,544		$	17,089		$	(17,760)	$	—

Adjusted EBITDA margins (Adjusted EBITDA / Reported Net Sales)	18.4		%	32.2		%	13.5		%	10.2		%

The reconciliation of Adjusted EBIT and Adjusted EBITDA to Net Income for the years ended December 31, 2022 and 2021 is as follows:


	Year Ended December 31, 2022

	Consolidated			Aptar Pharma			Aptar Beauty			Aptar Closures			Corporate & Other		Net Interest
Net Sales	$	3,322,249		$	1,361,256		$	1,222,535		$	738,458		$	—	$	—

Reported net income	$	239,555
Reported income taxes	95,149
Reported income before income taxes	334,704			346,995			65,850			32,185			(72,199)		(38,127)
Adjustments:
Restructuring initiatives	6,597			—			5,539			1,058			—
Net unrealized investment loss (1)	3,323			—			—			—			3,323
Transaction costs related to acquisitions	231			231			—			—			—
Adjusted earnings before income taxes	344,855			347,226			71,389			33,243			(68,876)		(38,127)
Interest expense	40,827														40,827
Interest income	(2,700)														(2,700)
Adjusted earnings before net interest and taxes (Adjusted EBIT)	382,982			347,226			71,389			33,243			(68,876)		—
Depreciation and amortization	233,706			94,396			80,498			52,866			5,946
Adjusted earnings before net interest, taxes, depreciation and amortization (Adjusted EBITDA)	$	616,688		$	441,622		$	151,887		$	86,109		$	(62,930)	$	—

Adjusted EBITDA margins (Adjusted EBITDA / Reported Net Sales)	18.6		%	32.4		%	12.4		%	11.7		%


	Year Ended December 31, 2021

	Consolidated			Aptar Pharma			Aptar Beauty			Aptar Closures			Corporate & Other		Net Interest
Net Sales	$	3,227,221		$	1,284,624		$	1,181,846		$	760,751		$	—	$	—

Reported net income	$	243,638
Reported income taxes	78,017
Reported income before income taxes	321,655			331,317			33,923			52,358			(69,327)		(26,616)
Adjustments:
Restructuring initiatives	23,240			76			8,149			2,702			12,313
Net unrealized investment gain (1)	(2,709)			—			—			—			(2,709)
Transaction costs related to acquisitions	3,811			3,811			—			—			—
Adjusted earnings before income taxes	345,997			335,204			42,072			55,060			(59,723)		(26,616)
Interest expense	30,284														30,284
Interest income	(3,668)														(3,668)
Adjusted earnings before net interest and taxes (Adjusted EBIT)	372,613			335,204			42,072			55,060			(59,723)		—
Depreciation and amortization	234,853			90,510			83,379			53,555			7,409		—
Adjusted earnings before net interest, taxes, depreciation and amortization (Adjusted EBITDA)	$	607,466		$	425,714		$	125,451		$	108,615		$	(52,314)	$	—

Adjusted EBITDA margins (Adjusted EBITDA / Reported Net Sales)	18.8		%	33.1		%	10.6		%	14.3		%

(1)Net unrealized investment gain (loss) represents the change in fair value of our investment in PCT.

AptarGroup (ATR) 8-KRegulation FD Disclosure