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News - Veritiv Corporation, Headquarters

Veritiv Corporation, Headquarters

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News - Veritiv Corporation, Headquarters

Newsgrafik #115283
 28.10.2016

Veritiv to Host 2016 Chicago Paper Show  (Company news)

Veritiv Corporation (NYSE: VRTV) will host its 27th annual Chicago Paper Show on Tuesday, November 1, 2016, at the Westin Chicago River North.

The Veritiv Chicago Paper Show attracts approximately 800 prominent designers, corporate end-users and commercial printers from the Greater Chicago area – one of the most exciting graphic arts markets in the country. The theme of this year's show is "MAKER – a person that makes or produces something."

"MAKER refers to people – including designers, printers, and paper makers – who creatively make or produce an idea, design or an object with passion. Each exhibit and exhibitor at this year's Chicago Paper show will support this theme," said Andrew Dembitz, Director of Specification, for Veritiv–Chicago.

Several leading paper suppliers will have showcase exhibits at the event. Mohawk's exhibit entitled, "Celebrating the Culture of the Craft," will include The Mohawk Maker Quarterly Issue 10, as well as a special pop-up exhibition of past issues of this celebrated publication. In addition, Sappi will exhibit "Ideas that Matter," demonstrating how designers use paper to make things happen. The exhibit will exclusively feature Illinois-based designers whose designs support charitable causes. Other exhibits include:
-Chicago 50-Print Collateral – an annual exhibit – featuring fifty of Chicago's finest companies and institutions.
-The 2016-2017 Newberry Library Calendar presented by Munro Campagna artist representatives.
-The Chicago Design Museum, a new venue, which supports the Chicago Graphic Arts Market.
-An environmental display by the Sustainable Forestry Initiative (SFI).
-Veritiv Private Brands showcasing the company's unique coated and uncoated grades.

The keynote presentation, "Evolution of Offset and Print," will be delivered by Daniel Dejan, Sappi's North American ETC Print and Creative Manager and sponsored by Sappi. Dejan will discuss how the printing industry is incorporating new technology and evolving.

The Veritiv Chicago Paper Show features 13 of the world's leading paper mills.
Proceeds from the show will benefit Marwen (www.marwen.org), a nationally recognized art education organization, providing free visual art programs to Chicago's underserved youth in grades 6-12.
(Veritiv Corporation)

Newsgrafik #113221
 29.03.2016

Veritiv Announces Fourth Quarter and Full Year 2015 Financial Results  (Company news)

Reports Fiscal Year Adjusted EBITDA of $182 Million, Basic and Diluted Earnings per Share of $1.67, Sets Financial Guidance for Full Year 2016

Veritiv Corporation (NYSE: VRTV), a North American leader in business-to-business distribution solutions, announced financial results for the fourth quarter and full year ended December 31, 2015.

"We are proud of our solid fourth quarter and full year 2015 results," said Mary Laschinger (photo), Chairman and CEO of Veritiv Corporation. "Through hard work and a steadfast focus on our integration initiatives, we accelerated our planned synergies and exceeded our full year financial commitment to shareholders. The Veritiv team's strong execution in 2015 kept us on track to meet our long-term financial goals and position the company for future growth. Looking ahead, we remain focused on our synergy and Adjusted EBITDA goals and committed to delivering long-term value to our shareholders."

For the three months ended December 31, 2015, compared to the three months ended December 31, 2014:

Net sales were $2.2 billion, a decrease of 7.5% from the prior year. Excluding the effect of foreign currency, net sales declined 6.2% from the prior year.
Adjusted EBITDA was $52.3 million, an increase of 29.8% from the prior year.
Adjusted EBITDA as a percentage of net sales was 2.4%, an increase of 68 basis points from the prior year.

For the year ended December 31, 2015, compared to the year ended December 31, 2014 (on a pro forma basis):

Net sales were $8.7 billion, a decrease of 6.4% from the prior year. Excluding the effect of foreign currency and one less day in the first quarter of 2015, net sales declined 4.7% from the prior year.
Adjusted EBITDA was $182.0 million, an increase of 18.5% from the prior year.
Adjusted EBITDA as a percentage of net sales was 2.1%, an increase of 44 basis points from the prior year.

Net income, as reported for the three months ended December 31, 2015, was $10.1 million, which includes $9.0 million of integration expenses and restructuring charges. Net income, as reported for the year ended December 31, 2015, was $26.7 million, which includes $46.2 million of integration expenses and restructuring charges. Basic and diluted earnings per share for the quarter and full year were $0.63 and $1.67, respectively.

In the fourth quarter of 2015, net sales per shipping day decreased 7.5% from the prior year. In fiscal year 2015, net sales per shipping day decreased 6.0% from the prior year. Fiscal year 2015 had one less shipping day compared to the same period in the prior year.

"Strong program management of our integration and a benefit from fuel prices were significant drivers of our fourth quarter and full year financial results. Our healthy cash flow enabled us to decrease our debt over the past year and, despite the uncertain economic conditions before us, we plan to continue significant debt reduction throughout 2016," said Stephen Smith, Senior Vice President and Chief Financial Officer of Veritiv Corporation.

The Company plans for 2016 Adjusted EBITDA to be in the range of $185 to $195 million, which reflects the pacing of the next phase of synergy capture and the economic softness expected to continue throughout the year.

Veritiv Corporation will host a live conference call and webcast today, March 15, 2016, at 10 a.m. (ET) to discuss its fourth quarter and fiscal year 2015 financial results. All interested parties are invited to listen online at ir.veritivcorp.com. A replay of the call and webcast will be available online for a limited period of time at ir.veritivcorp.com shortly after the live webcast is completed.

Important information regarding GAAP and pro forma operating results and related reconciliations of non-GAAP financial measures to the most comparable GAAP measures can be found in the schedules and related footnotes to this press release, which should be thoroughly reviewed.

When reviewing the reconciliations included for the non-GAAP measures, please note that certain information is presented on a pro forma basis. The pro forma information includes historical Unisource Worldwide, Inc. ("Unisource") results, other purchase accounting adjustments and adjustments for one-time costs as if the merger of the legacy xpedx business and UWW Holdings, Inc., the parent company of Unisource, had occurred on January 1, 2014.
(Veritiv Corporation)

Newsgrafik #112792
 08.02.2016

Veritiv Packaging Launches Earth Pact Sugar Cane Paperboard  (Company news)

Sustainable Packaging Option Available Exclusively Through Veritiv In U.S. Market

The Packaging Solutions Group of Veritiv Corporation (NYSE: VRTV) has announced the availability of Earth Pact Sugar Cane Paperboard, a material made from 100 percent pure sugar cane bagasse, an agricultural by-product of sugar manufacturing.

"Earth Pact is just one example of Veritiv's commitment to providing sustainable packaging solutions for the future," said Darin Tang, Senior Vice President – Packaging Solutions for Veritiv. "From new coating technologies to renewable resources, Veritiv is at the cutting edge of today's technology for sustainable packaging."

Exclusive to Veritiv, Earth Pact Sugar Cane Paperboard, developed in partnership with Carvajal Pulp and Paper, is well-suited for a variety of packaging applications in the food, cosmetics and similar industries. Earth Pact Sugar Cane Paperboard offers a range of features and benefits, including:
-Made from 100% pure sugar cane bagasse
-No bleach, chemical, or dyes
-Moisture and grease resistant grades available
-Rapid renewable resource, grown year round, harvested every 12-14 months
(Veritiv Corporation)