DS Smith PLC (OTCPK:DITHF)

$ 7.3134 0 (0%) Market Cap: 9.44 Bil Enterprise Value: 12.58 Bil PE Ratio: 33.21 PB Ratio: 1.97 GF Score: 74/100

Q3 2019 DS Smith PLC Trading Statement and to Announce Agreement to Sell the Plastic Division to Olympus Partners Call Transcript

Mar 06, 2019 / 08:30AM GMT

Release Date Price: $4.5

Transcript

Operator

Hello, and welcome to the DS Smith announcement. My name is Jess, and I'll be your coordinator for today's event. (Operator Instructions)

I will now hand over to your host, Miles Roberts, to begin today's call. Thank you.

Miles W. Roberts

DS Smith Plc - Group Chief Executive & Executive Director

Good morning, everybody. And firstly, thank you very much for joining us today. I'm Miles Roberts, the CEO of DS Smith, and I'm joined with Adrian Marsh, our CFO.

So our statement today covers 2 topics: firstly, that we have reached agreement to sell our Plastics division; and secondly, our Q3 trading statement, which relates the period of trading since the 1st of November 2018.

So starting with plastics. This is a process that began last year. And I'm pleased to say that we have reached agreement to sell the division to Olympus Partners who also own Liqui-Box for $585 million, approximately GBP 450 million, which represents a 9.9x EBITDA multiple based on the last 12 months of trading. We expect the transaction to close in the calendar

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