AptarGroup, Inc. (NYSE:ATR) Q3 2019 Earnings Conference Call Transcript

Nov 01, 2019 • 09:00 am ET

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AptarGroup, Inc. (NYSE:ATR) Q3 2019 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Ladies and gentlemen, thank you for standing by. Welcome to AptarGroup's 2019 Third Quarter Conference Call. [Operator Instructions]

Introducing today's conference call is, Mr. Matt DellaMaria, Senior Vice President, Investor Relations and Communications. Please go ahead, sir.

Executive
Matt DellaMaria

Thank you, Howard, and welcome everyone. Participating on our call today are Stephan Tanda, President and Chief Executive Officer: and Bob Kuhn, Executive Vice President, Chief Financial Officer, and Secretary.

You can find a copy of our press release as well as the slide presentation that summarizes our results on our website. We will also post a replay of this conference call on our website.

Lastly, today's call includes some forward-looking statements. Please refer to our SEC filings to review factors that could cause actual results to differ materially from those projected or contained in the forward-looking statements. Aptar undertakes no obligation to update the forward-looking information contained therein.

I'd now like to turn the conference call over to Stephan.

Executive
Stephan B. Tanda

Thank you, Matt, and good morning everyone and thanks for joining us. Yesterday, we reported core sales growth of 4% and adjusted EBITDA growth of 9% for the third quarter.

Before I go into the quarterly segment results in more detail, let me start by sharing an update on our most recent acquisition of Noble and the announced segment leadership appointments. Then I will speak to each of the segments before turning it over to Bob for some more details.

You can refer to Slide 4 of the presentation that is featured on our website. As we announced in our press release, we have acquired Noble International, a leader in drug delivery training devices including autoinjectors, prefilled syringes, on-body and respiratory devices and patient onboarding programs.

Noble's training devices which mimic the feel activation forces and functions of the actual drug delivery device are designed to reduce error and increase device familiarity, both a key to ultimately improving health care adherence and outcomes, especially in settings where patients self-administer the treatment. This acquisition is another step in our strategy to build out our Pharma service business, serving is attractive and rapidly growing market.

On next Slide 5, you can see how we are expanding our offering from drug delivery devices and components to being a full service provider for our customers from product development through the post launch stage. Our Pharma clients, increasingly are smaller innovative companies, procure more and more of these services to increase the likelihood of success of the innovations, to shorten the time to launch and to improve performance in the market, post launch.

Now shifting topics as shown on Slide 6, we have announced new segment leadership appointments. Marc Prieur will assume leadership of our Beauty and Home segment, as Eldon Schaffer who will be taking on a new leadership role overseeing Strategic Projects and Commercial Excellence initiatives. And Hedi Tlili will succeed markets, President of Aptar Food & Beverage. Hedi previously led the Food and Beverage business in Europe, and most recently led the Beauty and Home segment