As a very eventful year comes to a close for Mauser Packaging Solutions, I want to take a moment to thank everyone at Mauser International for your contributions and hard work this year. Despite various challenges in our three international regions – including volume decline, increased competition, margin pressure, GDP decline and the trade war between China and the United States – our excellent team approached these challenges as opportunities and delivered admirable results for 2019.
We can be particularly proud of the fact that in 2019 all three international regions performed above 2018 results and above budget. We expect to end 2019 with an EBITDA improvement of +11% compared to 2018 and a +5.5% improvement compared to this year’s budget. This is driven by significant improvements in productivity, procurement savings, safety, and cost management.
An exciting year is ahead of us as we move into 2020. The global economic outlook will likely remain challenging, but we expect global trade tensions to improve and for there to be positive developments regarding raw material costs. The consolidation of International Reconditioning and Mauser International is a great opportunity for us to further streamline processes and provide an improved “One Mauser” experience for customers. Our sales teams are working diligently to continue improving sales volumes. To meet the demand of increased sales volumes, we have projects planned for 2020 to improve productivity and implement additional automation.We are well prepared for next year and have an excellent team ready to meet any challenges that come.
On behalf of myself and Ken Roessler, I want to thank the Mauser International team for your outstanding achievements, great team effort, and excellent individual contributions this year. Enjoy your end of year vacations. I wish all of you and your families Happy Holidays and a safe, healthy and prosperous New Year!