Meyi 6, 2020 (Thomson StreetEvents) -- Edited Transcript of Westrock Co amalandila ndalama zoimbira foni kapena ulaliki Lachiwiri, Meyi 5, 2020 nthawi ya 12:30:00pm GMT
Madona ndi madona, zikomo chifukwa choyimirira pafupi, ndikukulandirani ku Msonkhano Wachigawo wa SecondRock Company's Second Quarter Fiscal 2020 Results Conference.(Malangizo Operekera)
Ndikufuna tsopano kupereka msonkhanowu kwa wokamba nkhani wanu lero, Bambo James Armstrong, Wachiwiri kwa Wachiwiri kwa Investor Relations.Zikomo.Chonde pitirirani.
Zikomo, wogwiritsa ntchito.M'mawa wabwino, ndipo zikomo chifukwa cholowa nawo Kuyimba kwa Fiscal Second Quarter 2020 Earnings Call.Tidapereka nkhani yathu m'mawa uno ndikuyika chithunzichi ku gawo la Investor Relations patsamba lathu.Atha kupezeka pa ir.westrock.com kapena kudzera pa ulalo wa pulogalamu yomwe mukugwiritsa ntchito powonera izi.
Ndi ine pa kuyitana lero ndi WestRock's Chief Executive Officer, Steve Voorhees;Mkulu wathu wa Zachuma, Ward Dickson;Chief Commerce Officer wathu ndi Purezidenti wa Corrugated Packaging, Jeff Chalovich;komanso Chief Innovation Officer ndi Purezidenti wa Consumer Packaging, Pat Lindner.Kutsatira ndemanga zathu zomwe takonzekera, tidzayamba kuyitanitsa gawo la mafunso ndi mayankho.
Pakuyitanitsa kwamasiku ano, tikhala tikulankhula zamtsogolo zokhuza mapulani athu, ziyembekezo zathu, zoyerekeza ndi zikhulupiriro zokhudzana ndi zochitika zamtsogolo.Mawuwa atha kukhala ndi zoopsa zingapo komanso zosatsimikizika zomwe zingapangitse zotsatira zenizeni kukhala zosiyana ndi zomwe takambirana paulendo.Timalongosola zoopsa ndi zosatsimikizika izi m'mafayilo athu ndi SEC, kuphatikiza 10-K yathu ya chaka chandalama chomwe chatha pa Seputembara 30, 2019.
Kuphatikiza apo, tikhala tikulankhula zamtsogolo za momwe mliri wa COVID-19 ungakhudzire pazantchito zathu komanso zachuma.Kukula kwa zotsatirazi, kuphatikiza nthawi, kukula komanso kuopsa kwa mliriwu, sikudziwika bwino ndipo sitingathe kulosera molimba mtima pakadali pano.Tikhalanso tikulozera njira zachuma zomwe si za GAAP panthawi yoyimba.Tapereka chiyanjanitso cha njira zomwe sizili za GAAP ku njira zofananira kwambiri za GAAP pazowonjezera za chiwonetsero chazithunzi.Monga tanena kale, ma slide akupezeka patsamba lathu.
Chabwino.Zikomo, James.Zikomo kwa inu amene mwayimba foni kuti mujowine foni yathu m'mawa uno.Tili ndi zambiri zoti tikambirane.
Ndiyamba ndikuthokoza gulu lodabwitsa la WestRock pazonse zomwe akuchita kuti athandizire kulumikiza zinthu zofunika kwa anthu padziko lonse lapansi.Gulu la WestRock, mothandizidwa ndi kukula ndi kuthekera kwakukulu kwa mphero yathu ndikusintha maukonde ayankha mwamphamvu kuthandiza makasitomala athu kukwaniritsa kusintha kwa msika komwe kumayambitsa mliri.
Tidapanga zotsatira zolimba zachuma mu kotala, ndi gawo losinthidwa la EBITDA la $708 miliyoni.Izi zinali kumapeto kwa malangizo omwe tidapereka kotala lapitali.Tikugwiritsa ntchito njira zathu zosiyanitsira kuchokera kumphamvu yazachuma komanso ndalama zochulukirapo.
Mliri wa COVID-19 wakhudza misika yapadziko lonse lapansi, wadzetsa kusakhazikika komwe sikunachitikepo ndikusokoneza momwe chuma chikuyendera.Kutengera izi komanso chifukwa cha magwiridwe antchito a gulu la WestRock, kampaniyo idapitilizabe kupereka gawo lofunikira launyolo wapadziko lonse lapansi, kuthandizira makasitomala athu ndi mbiri yazinthu ndi mayankho ndikufikira padziko lonse lapansi kuti azitha kupeza zinthu zawo. ogula omwe amawafuna.
Mliriwu wasokoneza mayendedwe ofunikira mubizinesi yathu yonse, ndipo pomwe misika ina, makamaka, malonda a e-commerce, yakhala yamphamvu kwambiri, ena, kuphatikiza misika yamafakitale, awona zoyipa.Tikupitilizabe kukhulupirira kuti zomwe zidatitsogolera pakukula kwanthawi yayitali sizisintha, kuti WestRock idakali bwino ndi njira yoyenera kuti apambane ndikupanga phindu kwa onse omwe akukhudzidwa nawo.
Nditanena zimenezi, kaonedwe ka chuma padziko lonse kafewa kwambiri posachedwapa.Chifukwa chake, tikukhazikitsa dongosolo lomwe tikuchita mwanzeru komanso zoyenera kukonzekera zochitika zosiyanasiyana zachuma ndi msika.Timayang'ana kwambiri pakukwaniritsa zosowa za makasitomala athu, kuthandizira thanzi, chitetezo ndi thanzi la anzathu omwe timagwira nawo timu ndikumanganso maziko athu azachuma.
M'munsimu muli zigawo zikuluzikulu za dongosolo lathu la mliri.Takhazikitsa njira zoyendetsera chitetezo m'makampani athu onse, kuphatikiza kusalumikizana ndi anthu, kuyeretsa mozama, zophimba kumaso, kuyesa kutentha ndi machitidwe ena kuti tithandizire anzathu kukhala otetezeka komanso athanzi.Timu yathu yachita bwino kwambiri panthawiyi.Ndipo mkati mwa kotala ino, tidzapereka mphotho zozindikirika kamodzi kwa omwe timagwira nawo ntchito.
Tidzapitiliza kufananiza zomwe timapeza ndi zomwe makasitomala amafuna, kuphatikiza kuchepetsa kusintha kwamitengo komwe kuli kofunikira komanso kuchepetsa nthawi pamakina athu amapepala omwe amagulitsa misika yotsika mtengo.Nthawi yomweyo, tidzagwiritsa ntchito mwayi womwe angadziwonetsere, kuphatikiza kugwiritsa ntchito kukula ndi kuthekera kwadongosolo lathu lomwe lilipo kuti tithandizire misika yomwe ikukula, kuphatikiza malonda a e-commerce ndikuyankha pakufunika kowonjezereka.
Tikuchepetsa ndalama zogwirira ntchito zomwe zatsala pang'ono kuchitika motsogozedwa ndi malipiro komanso kutsika mtengo mpaka 25% kwa akuluakulu athu akuluakulu ndi Komiti Yathu Yoyang'anira komanso kuchepetsa ndalama zomwe timagwiritsa ntchito posankha.Tikukonzekera kugwiritsa ntchito masheya a kampani yathu kulipira zolimbikitsa zathu zapachaka ndikupanga zopereka zomwe kampani yathu imapeza 401(k) mu 2020. Izi zidzapereka ndalama zina zochepetsera ngongole pomwe tikugwirizanitsa zolimbikitsa za oyang'anira ndi anzathu m'magulu onse. kampaniyo ndi osunga ndalama athu.
Tikuchepetsa mabizinesi athu ndi $150 miliyoni chaka chino ndipo tiyika $600 miliyoni mpaka $800 miliyoni mchaka cha 2021. Pakadali pano, timaliza ma projekiti akuluakulu omwe tikuchita, kusunga dongosolo lathu ndikuyika ndalama zazikuluzikulu kuti zitheke. kupititsa patsogolo zokolola ndikupereka misika yathu yomwe ikukula.
Ndipo pomaliza, tikukhazikitsanso gawo lathu lagawo lililonse kukhala $0.20 pagawo lililonse pamtengo wapachaka wa $0.80 pagawo lililonse.Ichi ndi sitepe yanzeru kuchita m'malo osatsimikizika omwe angapereke zopindulitsa, zokhazikika komanso zopikisana kwa eni ake a WestRock pomwe akugawa $275 miliyoni pachaka kuti achepetse ngongole.Izi zithandiza eni ake masheya athu pochepetsa mphamvu zopezera ndalama, kukulitsa ndalama zogulira komanso kupititsa patsogolo mwayi wopeza misika yayikulu yangongole.
Momwe zinthu zilili ndi COVID-19 zikusintha, tiwunikanso zomwe tapeza ndikuyang'ana kukulitsa gawo lathu mtsogolomo pamene misika ibwerera mwakale.Kuphatikizika kumeneku kudzatithandiza kuti titha kusintha mwachangu ndi kusintha kwa msika, ndipo tikuyembekeza kuti tipereka ndalama zina zokwana $ 1 biliyoni zochepetsera ngongole pakutha kwachuma cha '21.Izi zithandizira bizinesi yathu pansi pazachuma komanso msika ndikuwonetsetsa kuti WestRock ikhalabe m'malo abwino kuti apambane.
Kuyankha kwa WestRock ku mliriwu mpaka pano komanso kuthekera kwathu kupita patsogolo kumadalira khama komanso kudzipereka kwa gulu la WestRock, lomwe lakwera kuti ntchito zathu ziziyenda komanso kuthandiza makasitomala athu.Tipitilizabe kuthandiza anzathu, mabanja awo komanso madera omwe timagwirako ntchito.Ngakhale kuti zomwe zatsala pang'ono kutha sizikudziwika bwino, tili ndi njira yoyenera komanso gulu loyenera kuyendera malowa ndikutulukira kampani yamphamvu kwambiri.
Kuphatikiza pa njira zoyendetsera chitetezo zomwe takhazikitsa pakampani yathu yonse, tsopano tikugwira ntchito mosiyana ndi momwe tinkachitira miyezi iwiri yapitayo.Kaya tikugwira ntchito m'malo opangira opaleshoni kapena kunyumba, timakumana pafupipafupi kuposa kale kuti tizindikire ndi kuthana ndi zovuta zomwe zikusintha mwachangu zikabuka.Izi zikuthandizira kuyesetsa kwathu kuti tisinthe mwachangu kuti tikwaniritse zosowa za makasitomala athu.
Ndipo tathandizira madera athu, kuphatikiza kuyanjana ndi makasitomala athu komanso Georgia Center for Medical Innovation kuti ipereke chithandizo chopanga zishango za nkhope zopitilira 200,000.Tikupereka mabokosi okhala ndi malata ndi zosungiramo chakudya kumabanki a chakudya, komanso pogawa chakudya chachifundo m'madera athu ambiri.
Tiyeni titembenukire ku momwe tikuchitira mu gawo lachiwiri lazachuma.Tidapanga zogulitsa zokwana $ 4.4 biliyoni ndi gawo losinthidwa la EBITDA la $ 708 miliyoni, zomwe tapeza pagawo lililonse la $ 0.67.M'chaka chathachi, tapititsa patsogolo njira yathu yosiyana ndi kukula kwakukulu powonjezera makina ena 380.Tawonjezera makasitomala 20 m'miyezi 12 yapitayi.Makasitomala amakampani tsopano akupanga $ 7.5 biliyoni pakugulitsa poyerekeza ndi $ 6 biliyoni pachaka chapitacho, chiwonjezeko cha 25%.
Ponseponse, tili ndi kuthekera kokulirapo pazachuma ndi ndalama zopitilira $2.5 biliyoni zanthawi yayitali, kuphatikiza ndalama zoposa $600 miliyoni.Tili ndi ngongole zochepa mpaka Marichi 2022, ndipo dongosolo lathu la penshoni loyenerera ku US limalipiridwa ndi 102%.
Mu kotala, tidawona mphamvu zamakina a e-commerce komanso mapuloteni, chakudya chokonzedwa, ulimi, chisamaliro chaumoyo komanso magawo amsika a zakumwa.Magawo ena amsika, kuphatikiza zinthu zapamwamba ndi zinthu zamafakitale, adafewetsa chifukwa cha kukhudzidwa kwa COVID-19.
Zotsatira zathu za kotala yachiwiri zikuwonetsa kuchuluka kwa zotumiza kunja ndi zotengera zam'nyumba ndi zotumiza zamabokosi.Kusiyanasiyana kwamitengo/kusakanikirana kukuwonetsa kutsika kwamitengo yomwe idasindikizidwa kale komanso msika wazaka ndi chaka ukutsika pamitengo yotumizira kunja ndi zotengera zam'nyumba, zamkati ndi mitengo yamapepala.
Corrugated Packaging idapereka zotsatira zolimba mu kotala, ndi gawo losinthidwa la EBITDA la $ 502 miliyoni ndikusinthidwa gawo la EBITDA la 18%.Mitsinje yaku North America yosintha EBITDA inali 19%, ndipo ma EBITDA osinthidwa aku Brazil anali 28%.
M'kati mwa kotala, ntchito zamphamvu zogwira ntchito zokhala ndi mavoliyumu apamwamba, zokolola zamphamvu ndi kuchepa kwa ndalama zinali zambiri kuposa kutsika kwamitengo.Kugulitsa mwamphamvu pamalonda a e-commerce, zakudya zosinthidwa ndi zinthu zogulitsa ngati zotsukira, zopangira mapepala ndi matewera zidathetsedwa mu theka lachiwiri la Marichi ndikuchepetsa kwakukulu m'magawo athu ogwiritsira ntchito pogawa ndi mapepala, zinthu zamafakitale ndi chakudya ndi ma phukusi a Pizza.
Izi zapitilira mu Epulo, pomwe makasitomala athu opitilira 130 anena kuti zatsekedwa kwakanthawi.Ndi makasitomala athu 130 omwe akuwonetsa kutsekedwa kwakanthawi kwamitengo ndikuchepetsa masinthidwe kutengera zotsatira za coronavirus.Ngakhale magawo monga mapuloteni ndi zakudya zokonzedwanso akuvutika chifukwa cha zovuta za coronavirus pa antchito awo.
Kutumiza m'mabokosi m'gawoli kudakwera 1.3% mtheradi, ndipo zotumizira zikuchulukira kumapeto kwa kotala pomwe ogula adayamba kubisala kunyumba.Kutumiza kwathu m'mabokosi kunasokonezedwa ndi kutsekedwa kwa malo opangira mabokosi 5 mchaka chathachi komanso kuchepa kwa kufunikira kwa magawo a msika wa mafakitale, kugawa ndi pizza, komanso kutsika kwa malonda a mapepala otsika kwa otembenuza a gulu lachitatu.Kuchulukirachulukira kwa zinthu izi kunachepetsa kugulitsa kwathu m'mabokosi ndi 2.7% poyerekeza ndi chaka chatha.
Koma tiyeni tiyike izi moyenera.Pazaka zitatu zapitazi, tachita bwino kwambiri pakukulitsa bizinesi yathu yamabokosi.M'malo mwake, kukula kwathu kwapabokosi panthawiyi kuli pafupifupi 10%, pafupifupi kuwirikiza kawiri kukula kwamakampani 5.5%.Njira yathu yamalonda kwa makasitomala athu ikupitilizabe kugwira ntchito bwino kuti ikwaniritse zosowa za makasitomala zomwe zikusintha mwachangu.
Kulimba kwa bizinezi yathu yosindikizira zinthu zakale kwatithandiza kutsegula malo atsopano ku Las Vegas kuti tikwaniritse zofuna zathu zomwe zikukula zazithunzi komanso kutipatsa malo athu okulirapo ndikuwonjezera kachitidwe ka KapStone.Tikukulitsa makina athu osindikizira a Jacksonville kuti tiwonjezere makina osindikizira mosalekeza adzapereka mphamvu zowonjezera ndikuchepetsa mtengo.
Zogulitsa zathu zapakhomo ndi zotumiza kunja zidachulukitsa matani 112,000 kotala kuyerekeza ndi chaka chatha.Matani 30,000 a chiwonjezekocho adachokera kuzitsulo zathu zoyera zamtengo wapatali.Ntchito zathu zamaluso ndi kuphatikiza kwa KapStone zikupitilira.Tidamaliza kotalayi ndi chiwongola dzanja chapachaka cha $125 miliyoni mu ma synergies kuchokera ku KapStone.Gulu lathu lapita patsogolo kwambiri pakukonzanso mphero yaku North Charleston kutsatira kuyimitsidwa kosatha kwa makina #2 apepala.Kusakaniza kwapadera kwa mphero kwagawidwanso m'zinthu zonse zomwe zatsala, zomwe zathandizira kupanga kwathu komanso kutipatsa ndalama zogulira.Tikuyembekeza kukhala pamitengo yomwe takonza ndikusunga pofika kumapeto kwa chaka cha kalendala.
Mwachidule, gulu la WestRock lonyamula malata likuchita bwino kwambiri m'malo ano, mothandizidwa ndi makina athu opangira mabokosi omwe ali ndi ndalama zambiri komanso makina athu amphero omwe ali ndi malo odziwika bwino komanso kuthekera kopanga mapepala ochuluka kwambiri pamakampani.
Tiyeni titembenukire ku gawo lathu la Consumer Packaging, komwe zotsatira zake zinali zathyathyathya chaka ndi chaka ndi gawo losinthidwa la EBITDA la $222 miliyoni m'malo ovuta kwambiri.Mu kotala, mabizinesi athu azakudya, chakudya, zakumwa ndi chisamaliro chaumoyo adachita bwino pakusakanikirana kwamitengo yokwera komanso kupindula ndi njira zosinthira pulasitiki.
Malingaliro athu osiyanitsidwa omwe amatengera mapangidwe, sayansi yazinthu ndi makina akupitiliza kupereka phindu kwa makasitomala athu.Kukwera uku kunathetsedwa ndi kuchepa kwa kufunikira kwa kukongola, zodzoladzola ndi mizimu yapamwamba.Kutsika kwa kutsika kwa kusindikiza kwa malonda mu Marichi kunathandizira kuti titenge matani 13,000 azovuta zachuma mu kotala ndi matani ena 14,000 mu Epulo kudutsa dongosolo lathu la SBS.Zotsalira za CRB ndi CNK zidakhalabe zolimba pamasabata a 3 ndi 5, motsatana.
Consumer Packaging imatenga nawo gawo m'misika yambiri yamapeto.Timawona bizinesiyo kudzera m'magulu anayi ofunika: Choyamba, mabizinesi azakudya, chakudya ndi zakumwa amakhala pafupifupi 57% yazogulitsa zathu.Timapambana ndi makasitomala athu ndi zopereka zathu zosiyana, zophatikizika zopindika zamakatoni ndi malonda athu athunthu azinthu zamapepala kupita ku otembenuza odziyimira pawokha.Mabizinesiwa amabweretsa kukula ndi phindu kudzera muzatsopano, zinthu zosiyanasiyana, makina ndi ntchito zamakasitomala;chachiwiri, mabizinesi athu apadera amatengera pafupifupi 28% yazogulitsa zathu.Zathu zowonjezeredwa muzopaka zapadera zimalemera kumbali yosinthira bizinesi.Bizinesi yazaumoyo yakhala yamphamvu kwambiri ndipo imathandizidwa ndi zopereka zathu zophatikizika zamakatoni, zolemba ndi zoyikapo.Ngakhale kuti ntchito za zopereka zathu zina zapadera za katundu wogula, makhadi olipira ndi zofalitsa zakhala zikusakanikirana, zina zikukula, zina zimatsika pakapita nthawi;gulu lachitatu ndi pepala lapadera la SBS la fodya, zosindikizira zamalonda ndi zopaka zamadzimadzi.Izi zimatengera pafupifupi 13% yazogulitsa zathu.Gululi latsutsidwa m'zaka zaposachedwa chifukwa cha kuchepa kwa kuchuluka kwa malonda a malonda ndi fodya, zomwe kupereka nkhani, zatsika kuposa 20% kuyambira ndalama za '16;chachinayi, timagwiritsa ntchito zamkati kulinganiza dongosolo lathu.Kutsika kwamitengo yaposachedwa kwachepetsa phindu ndi pafupifupi $28 miliyoni pachaka ndi $12 miliyoni kotala poyerekeza ndi chaka chatha.
Tikuwona mipata yabwino yopitira patsogolo pogwiritsa ntchito sayansi yathu yakuthupi, luso lazopangapanga, makina opanga ndi njira zamalonda ndi makasitomala athu.Tayika ndalama zathu pakusintha zinthu, ndipo tayika ndalama ku makina athu amphero ku Mahrt, Covington ndi Demopolis kuti tiwongolere mtengo wathu komanso mtundu wazinthu.Ku Covington, tsopano tikupanga SBS yotsika kwambiri padziko lonse lapansi yopinda makatoni ndi mapulogalamu ena.
Kotero ngakhale kuti mbali zambiri za bizinesi yathu ya Consumer Packaging zakhala zikuyenda bwino ndipo zili m'malo abwino kuti zipitirire kuwongolera pakapita nthawi yayitali, kusintha kumeneku kwatsitsidwa ndi magwiridwe antchito a magawo athu otsika mtengo komanso akutsika pamsika.Tikupitilizabe kudzipereka pakuwongolera magwiridwe antchito anthawi yayitali abizinesiyi.
WestRock ili ndi mwayi wothana ndi momwe chuma chilili.Tili ndi kuthekera kopereka magawo osiyanasiyana amsika omaliza, timatha kusinthasintha pamayendedwe athu onse, kuphatikiza kuthekera kogwiritsa ntchito ulusi womwe sunamwalire komanso wopangidwanso.Miyezo yathu yapadziko lonse lapansi imapereka kusasinthika komanso kusinthasintha pamsika womwe ukusintha mwachangu.
Mapeto a msika akusintha mofulumira.Slide 11 imapereka chithunzithunzi chazomwe zikuchitika m'misika yathu.Monga tanena kale, kufunikira kwa ma e-commerce channels ndikolimba kwambiri.Tikukhulupirira kuti izi zipitilira kukula.Misika yazakudya zokonzedwa komanso zogulitsa, zakumwa ndi zakumwa zamadzimadzi zinali zolimba mu Marichi pomwe makasitomala adabisala m'malo ndikugwira ntchito kunyumba.
Misika yama protein yasintha kuchoka ku zabwino kwambiri kupita ku zoyipa m'masabata angapo apitawa pomwe makampani opanga mapuloteni amva kukhudzidwa ndi COVID-19.Kufuna kwamakasitomala akumafakitale ndi kugawa kwasokonekera chifukwa cha kutsekedwa, ndipo misika ina monga ntchito yazakudya ndi zosindikiza zamalonda zikupitilizabe kutsika kwa msika kuyambira kotala lapitalo.
Kuchokera pomwe tili lero, ndizovuta kuneneratu kuti ndi ziti zomwe zikuyenda pang'ono, ndi zomwe zipitirire.Mwamwayi, zolemba zathu zosiyanasiyana zamapepala ndi zoyikapo zimatipatsa mwayi woti titha kusintha ndikukwaniritsa zosowa zamakasitomala athu pazachuma chilichonse.Ngakhale zomwe sizikudziwikabe, tatenga ndipo tikukonzekera kuchitapo kanthu kuti tiyang'ane momwe msika ukuyendera.
Zikomo, Steve.Kuphatikiza pa luso lathu lopanga ndalama kuchokera kubizinesi yathu, kasamalidwe mwachangu kakukhwima kwangongole komanso kusunga ndalama zambiri ndizofunikira pamaziko amphamvu azachuma a WestRock.Muzachuma cha 2019, tidakulitsa chiwongola dzanja choposa $3 biliyoni yangongole zodzipereka komanso zoposa $2 biliyoni pa ngongole zamabanki.
Kuphatikiza apo, chaka chatha, tidabwezanso ndalama zokwana $350 miliyoni m'ma bond omwe amayenera kulipira mu Marichi 2020. Tili ndi kukhwima kwa ma bond mpaka Marichi 2022, ndi $100 miliyoni yokha yomwe ikuyenera kuchitika mu June chaka chino.Kumapeto kwa Marichi, tinali ndi ndalama zopitilira $2.5 biliyoni zomwe zidali nthawi yayitali, kuphatikiza ndalama zokwana $640 miliyoni.Mwachizoloŵezi, timapanga ndalama zolimba kwambiri mu theka lachiwiri la chaka chathu chandalama.Pamene tidatseka mwezi wa Epulo, tidatha kuchepetsa ngongole zonse pafupifupi $145 miliyoni.Pochepetsa ngongoleyi mu Epulo, kudzipereka kwathu -- ndalama zomwe tadzipereka panopa ndi pafupifupi $2.7 biliyoni.
Tili ndi njira zambiri zamapangano athu angongole 2, ndipo izi zimatipatsa mwayi wokhoza kuyendetsa bizinesi yathu.Kuphatikiza pa kuyang'anira mwachangu kukhwima kwa ngongole ndi ndalama, mapulani athu a penshoni ali pachimake champhamvu.Monga Steve ananenera, dongosolo lathu la penshoni loyenerera ku US lalipidwa mochulukira, ndipo zopereka zathu zapadziko lonse lapansi pamapulani athu oyenerera mchaka cha 2020 ndi $10 miliyoni zokha.
Tikupita ku Slide 13. Tikusiya malangizo athu a chaka chonse chifukwa cha zovuta zachuma zomwe zikuchitika chifukwa cha COVID 19. Ngakhale kuti sitikupereka malangizo pa Q3, zomwe zikuchitika posachedwa zipangitsa kuti malonda ndi zopeza zichepe motsatana.Steve adawunikiranso zakusintha kwazinthu zomwe zikufunika m'misika yathu yambiri, zomwe zikusokoneza magawo ena abizinesi yathu.
Kuphatikiza pa kusatsimikizika kwa voliyumu, zotsatira za Q3 ziwonetsa kuyenda-kupyolera mu kuchepetsedwa kwa index yosindikizidwa ya linerboard mu Januwale ndi kuchepetsedwa kwa February kwa SBS ndi magiredi obwezerezedwanso pamabokosi.Ndipo ngakhale ndalama zina zolowetsa zikutsika, mitengo ya fiber yobwezerezedwanso imakwera kupitilira $50 pa toni kuyambira Disembala.Pamene zinthu zikuyenda bwino komanso tikuwoneka bwino m'tsogolomu zomwe zidzafunike, tidzabwezeretsanso chitsogozo chathu.
Tikuchita zinthu zingapo zomwe tikuyembekeza kuti zipereka ndalama zowonjezera $ 1 biliyoni zomwe zingapezeke kuti achepetse ngongole kumapeto kwachuma cha 2021. Lamulo la CARES Act lomwe lakhazikitsidwa posachedwa ndi Congress likuletsa pafupifupi $120 miliyoni zamisonkho m'magawo atatu otsatirawa. adzalipidwa mu Disembala 2021 ndi Disembala 2022.
Tikukonzekera kupanga zolipirira zathu za 2020 ndi zopereka 401 (k) mu 2020 ndi WestRock stock wamba zomwe zichulukitsa ndalama zathu pafupifupi $100 miliyoni.Tikuchepetsa ndalama zomwe timagulitsa kukhala pafupifupi $950 miliyoni mchaka cha 2020 ndipo tsopano tikuyerekeza $600 miliyoni mpaka $800 miliyoni mundalama wa 2021, kutsika kuchokera ku chitsogozo chathu cham'mbuyomu $1.1 biliyoni mu 2020 ndi $900 miliyoni mpaka $1 biliyoni mu 2021.
Tidzamaliza ntchito zathu zanzeru ku Florence ndi Tres Barras m'miyezi 12 ikubwerayi.Ndipo ngakhale tidayenera kuyang'ana zovuta za malo okhala m'malo oletsa komanso kupezeka kwa mgwirizano ndi zida zaukadaulo chifukwa cha COVID-19, tikuyembekeza kuyambitsa makina atsopano a pepala ku Florence mu theka lachiwiri la chaka cha kalendala. 2020. Ntchito yokweza mphero ya Tres Barras iyenera kumalizidwa mu Q2 yandalama '21.
Pazigawo zogulitsa ndalama zazikuluzikuluzi, tili ndi chidaliro kuti tipitilizabe kuyika ndalama pachitetezo choyenera, chilengedwe ndi kukonza ndikumaliza ntchito zathu zanzeru komanso kupanga ndalama zothandizira kuti bizinesi yathu itukuke.Kuchepetsa uku kudzapereka $ 300 miliyoni mpaka $ 500 miliyoni zandalama zowonjezera zomwe zingapezeke pakuchepetsa ngongole kumapeto kwa 2021.
Kukonzanso kwa gawo lathu lapachaka kuchokera ku $ 1.86 pagawo mpaka $ 0.80 pagawo kupangitsa kuti chiwonjezeko cha $ 400 miliyoni pazaka 1.5 zikubwerazi.Pamene tikusintha machitidwe athu ndi mabizinesi kuti agwirizane ndi zomwe makasitomala amafuna, tidzapitiliza kupanga ndalama zaulere zaulere, kuteteza tsamba lathu komanso kukhala ndi mwayi wosintha ndalama kuti tigwiritse ntchito njira yathu.
Zikomo, Ward.Potengera momwe mliriwu ulili, chifukwa cha momwe gulu la WestRock lidachita bwino, tidathandizira makasitomala athu ndi zida zapadera ndi mayankho komanso kufikira padziko lonse lapansi komwe amafunikira kuti agulitse malonda awo kwa ogula omwe akuwafuna.Tikugwiritsa ntchito njira zathu zosiyanitsira, ndipo tikuchita izi kuchokera kumphamvu yazachuma komanso ndalama zochulukirapo.
Tikukumana ndi nthawi zomwe sizinachitikepo, ndipo zomwe zikuchitika posachedwa sizikudziwika.Tikusintha ndikugwiritsa ntchito njira zathu poyankha.Dongosolo la mliri wa WestRock litithandiza kuyankha mwachangu pakusintha kwa msika tikamafanana ndi zomwe timapeza pamsika.Tikuyembekeza kuti izi ndi zina zidzalimbitsanso chuma chathu popereka ndalama zokwana $ 1 biliyoni kuti zichepetse ngongole pakutha kwachuma cha '21.
Tonse ku WestRock tili ndi chidaliro pamalingaliro athu amtengo wapatali, kuti tili ndi njira yoyenera yosiyanitsira, gulu loyenera kuyendera malowa ndikutuluka kampani yamphamvu kwambiri.
Zikomo, Steve.Monga chikumbutso kwa omvera athu, kuti tipatse aliyense mwayi wofunsa funso, chonde chepetsani funso lanu ku 1 ndikulitsata ngati pakufunika.Tifika kwa ochuluka momwe nthawi ingalolere.Oyendetsa, kodi tingatenge funso lathu loyamba?
George Leon Staphos, BofA Merrill Lynch, Research Division - MD ndi Co-Sector Head in Equity Research [2]
Zikomo chifukwa chatsatanetsatane komanso zonse zomwe mukuchita pa COVID.Ndikuganiza kuti funso loyamba lomwe ndinali nalo likukhudzana ndi momwe mungapitirire kuyang'anira mabizinesi kupita patsogolo.Steve ndi Ward, zidamveka ngati -- ndipo mudazinena, kuti pali kusiyana kwakukulu pazomwe mukuwona malinga ndi zomwe mukufuna.Ndizovuta kunena zomwe zili zachikunja, zomwe zimangochitika kamodzi.Kodi chingakhale chilungamo kunena kuti mutadziwa kuti, padzakhala zina zochita kukhathamiritsa ntchito, bizinesi, mbiri.Ndipo mwina tangomva zomwe tinkafuna kumva, koma zikuwoneka ngati ogula mwina ali ndi ntchito yochulukirapo yoti achite mukangowunika izi chifukwa chazovuta zomwe zili m'mabuku ndi fodya.Kotero ngati inu mukanakhoza kuyankhula kwa izo, ndipo ine ndikanakhala ndi kutsatira.
George, uyu ndi Steve.Ndikuganiza kuti mwayankha funsoli mocheperapo chifukwa ndikuganiza kuti tiwunika zomwe zikuchitika pamsika, ndipo tikuyembekeza kuti padzakhala masinthidwe pakapita nthawi.Sindingathe kulosera zomwe zidzachitike.Sindingathe kulosera kuti tidzayang'ana dongosolo lathu ndikugwiritsa ntchito makina athu ndi mbiri yathu m'njira yoti tikwaniritse zonse.Ndipo ndikugwirizana nanu kuti tili - ndinganene zomwe mudanena za ogula, ndikuganiza kuti tili ndi ntchito yambiri yoti tizichita pa ogula, ndingagwirizane nazo, pazifukwa zomwe ...
George Leon Staphos, BofA Merrill Lynch, Research Division - MD ndi Co-Sector Head in Equity Research [4]
Chabwino.Ndiyeno pamene izo zifika kwa phindu, mwachionekere, chisankho chofunika.Poganizira mwayi wokhala wopitilira 3x, kutengera gawo la pangano lomwe mudati ndilofunika komanso ntchito zina zonse zomwe mwachita kuti mukhale ndi ndalama zambiri, kodi pali china chake chomwe chidakupangitsani kuti muyime ndikuyambitsa phindu?Chifukwa zimawoneka ngati muli ndi malo oti mupitilize kupereka gawolo.Chomwe chikukudetsani nkhawa kwambiri ndi chiyani pakali pano pankhani yochisungabe pamlingo womwe udalipo kale?Mwachiwonekere timalemekeza chisankhocho ndipo ndimayamikira mtundu.
Chabwino.George, zikomo pofunsa funsoli chifukwa iyi si nkhani ya ndalama ayi.Ndipo ndikuganiza kuti mwazindikira chinthu chimodzi.Ngati pali chinthu cha 1 chomwe chimatikhudza tonsefe, mosasamala kanthu komwe tili, ndizosayembekezereka za zomwe zidzachitike pokhudzana ndi msika.Ndipo timangoganiza kuti ndibwino kuti tiyesetse kupita patsogolo ndikuwonetsetsa kuti tili okonzeka kuthana ndi kusatsimikizika komwe tili nako muzachuma komanso msika ukupita patsogolo.
Ndipo zochita izi, ndipo sindiziyang'ana -- monga gawo logawira ndi gawo limodzi mwazinthu zingapo zomwe timachita.Nditha kuyang'ana zonse zomwe tikuchita kuti tithe kuthana ndi kusatsimikizika komwe tonse tikukumana nako.
George Leon Staphos, BofA Merrill Lynch, Research Division - MD ndi Co-Sector Head in Equity Research [6]
Chifukwa chake gawo lake likhoza kukhala likulu lomwe mungafunike mukakulitsa ntchitoyo pakapita nthawi, kodi zingakhale zolungama?
George Leon Staphos, BofA Merrill Lynch, Research Division - MD ndi Co-Sector Head in Equity Research [8]
Chifukwa chake mukusunganso ufa, mwachiwonekere, mutapatsidwa zina zomwe mungafunikire kupanga mkati mwa mbiriyo kuti muwongolere magwiridwe antchito.Ndicho chimodzi mwa zifukwa zomwe zingakhale bwino kukhala ndi ndalama zowonjezera.Ndi chilungamo?
Inde.Ndikungoyang'ana zonse, ndizovuta kwambiri, ndipo ndikuganiza kuti zonse zomwe tikuchita ndizoyenera kuti tipite patsogolo pa nthawi yosatsimikizika yomwe tonse tikukumana nayo.
Mark Adam Weintraub, Seaport Global Securities LLC, Research Division - MD & Senior Research Analyst [11]
Steve, ndikungofuna kutsata izi - yankho pafunso lagawo, chifukwa ndikuganiza kuti ndikofunikira kuti osunga ndalama amvetsetse bwino.Ndikutanthauza, mfundo yanu ndikuti -- palibe vuto lazachuma lomwe mukuwona pakali pano, koma mwina mukuchita izi ngati -- mwina simukuyembekezera, koma ndikungosamala kwambiri. kuchitapo kanthu kuti, monga mukunenera, kutuluka patsogolo pake.Kodi imeneyo ndiyo njira yomvetsetsa?Chifukwa ndikuganiza kuti anthu ambiri aziwerenga mwachiphamaso ndikuti, wow, ayenera kudera nkhawa za ndalama zawo, amangodula gawo lawo, ndipo izi zidadabwitsa anthu ambiri.
Inde.Kotero ine ndikuyamikira inu mukufunsa izo.Iyi si nkhani ya liquidity.Ine ndikuganiza izo ndendende kuyesera kutuluka pamaso zosayembekezereka ya zochitika.Kenako ndimaganizira mozama kwambiri kuchokera kwa omwe ali ndi masheya, ndipo timapanga ndalama zomwe zingalipire ngongole, ndipo ndikuganiza kuti izi zidzapindulitsa eni ake.Chifukwa chake ngati ndili ndi masheya, ndikuganiza kuti ndikuyamikira izi chifukwa zimatipatsa ndalama kuti tilipire ngongole, zomwe zitha kupezeka - zomwe zidzapindule ndi omwe akugawana nawo ndipo izi zikuyenda bwino. ndalama komanso kutipatsa mwayi wofikira nthawi yayitali kumisika yayikulu ya ngongole, zonse zomwe ndikuganiza kuti ndizofunikira kwambiri.Ndipo phindu la $ 0.80 likadali lopindulitsa ndipo ndilofunika kwambiri ndipo likupikisana ndi njira zina zambiri zogulitsa ndalama.
Mark Adam Weintraub, Seaport Global Securities LLC, Research Division - MD & Senior Research Analyst [13]
Chabwino.Ndiyeno mwamsanga - pozindikira kuti ndizovuta kwambiri.Kodi pali zotsimikizika zomwe mungagawire nafe malinga ndi momwe kufunikira kukuwonekera ndi komwe kunali, zomwe mukuyembekezera mu Meyi mwina, komwe zinthu zimawoneka?
Inde, Mark, ine ndikuti tiyeni Jeff kuyankha kuti corrugated ndiyeno Pat pambuyo pake, kuyankha kuti ogula.Ndiye Jeff?
Jeffrey Wayne Chalovich, WestRock Company - Chief Commerce Officer & Purezidenti wa Corrugated Packaging [15]
Zikomo, Steve.Mmawa wabwino, Mark.Chifukwa chake kwatsala pang'ono kunena pa Meyi ndinganene kuti zotsalira zathu sabata yoyamba ndizokhazikika.Ndipo ndipereka kumveka bwino momwe ndingathere pamavoliyumu a Epulo, kumvetsetsa kuti mukuyang'ana mwatsatanetsatane m'misika yomaliza.Sindinawonepo pang'onopang'ono mpaka pano.Ndiyeno monga momwe mudanenera, kutengera kuchuluka kwa makasitomala athu omwe akutseka kwakanthawi, kusinthasintha kwazomwe akufuna, sizingakhale zikuwonetsa zomwe kotala idzakhala kapena ayi.Chifukwa chake tinamaliza Epulo pansi pafupifupi 4%.Tinayamba mweziwo tili ndi zotsalira zotsalira ndipo sabata iliyonse zidayamba kuipiraipira.Chifukwa chake tili ndi, monga Steve adanenera, makasitomala opitilira 130 omwe adatseka kapena kuchepetsa masinthidwe pabizinesi yonse, 4 mwa makasitomala athu 10 apamwamba anali ndi mbewu zingapo kumapeto kwa Marichi mpaka koyambirira kwa Epulo.Chifukwa chake tidawona izi m'magawo amphamvu muzakudya zathu zosinthidwa komanso bizinesi yathu yama protein.Ndi US ndi Canada.Ndipo mabizinesi omwe ife - omwe timapereka chakudya kapena mabizinesi azakudya nawonso adatsika.Ndiyeno tinawona izi m'magawo ogwiritsira ntchito mapeto omwe anali ofooka monga mafakitale athu ndi malonda athu ogawa ndi mapepala, omwe ndi gawo lalikulu.
Bizinesi yomwe tidachoka komanso malo opangira mabokosi omwe tidatseka zikhala ngati mphepo yamkuntho.Kenako tatuluka mubizinesi yotsika mtengo m'dera logawa ndi mapepala.Ndiye izi zitha kukhala zokokera m'chaka chandalama chotsatira pamene tikutuluka.Koma kachiwiri, ngati muyang'ana ma comps, tinali okwera 1.7% mu April chaka chatha.Msikawu unali pansi pafupifupi 1.4%.Tidakwera 2.7% mu kotala chaka chatha, ndipo msika unali wathyathyathya.Ndiye ma comps ndi ovuta.
Koma nditanena izi, bizinesi yathu idayenda bwino kwambiri.Tinafananiza zomwe timapeza ndi zomwe makasitomala amafuna.Zomera zinkayenda bwino.Iwo anali ndi zovuta kwambiri ndi mabizinesi omwe anali pamwamba, mabizinesi anali otsika.Tinasuntha bizinesi mozungulira mbewu mopanda cholakwika.Ndipo Steve ananena kuti ogwira ntchito athu anachita mwankhanza.Ndipo chifukwa chake tili ndi chidaliro chanthawi yayitali kuti titha kupitiliza kuphatikiza bizinesi iyi ndi njira zathu zosiyanitsira pamakina ogulitsa, kugulitsa kwazithunzi zojambulidwa kumapitilirabe kukhalabe olimba.Tili ndi chidaliro pa kuthekera kwathu kwanthawi yayitali kukulitsa bizinesi iyi.
Patrick Edward Lindner, WestRock Company - Chief Innovation Officer & Purezidenti wa Consumer Packaging [17]
Zabwino.Zikomo, Steve, ndi zikomo, Jeff.Ndipo kotero sindingathe -- monga Jeff, sindingathe kuyankha zambiri pa Meyi.Ndiyesera kufotokozera za Epulo, makamaka, momwe zimayenderana ndi ndemanga zomwe Steve adafotokoza kuzungulira kotala.Kwenikweni, zomwe tidawona kumapeto kwa kotala mpaka mwezi wa Marichi zidapitilirabe mpaka Epulo.Tidawona kufunikira kolimba komanso kukhazikika muzakudya, magawo ambiri a chakudya ndi ntchito, zakumwa ndi chisamaliro chaumoyo.Zotsalira zathu mu Epulo pa CNK zimakhalabe zolimba pamasabata a 5 ndipo CRB ili pafupi masabata atatu.Chifukwa chake timamva bwino -- komanso kukhala ndi chiyembekezo pazakudya, zakumwa ndi chisamaliro chaumoyo.
Tidakumana ndi zovuta zazikulu makamaka pazosindikiza zamalonda.Ndipo kotero mwinamwake ine nditenga kamphindi ndi kungofotokoza izo.Tinapita kwinakwake m'dera la Epulo, pafupifupi 50%.Ndilo pafupifupi theka la zomwe timagulitsa tsiku lililonse mu Epulo monga momwe timakhalira, ndipo pafupifupi theka la zomwe tinali nazo mu February.Zambiri zomwe zimangoyendetsedwa ndi kuchepetsedwa kwa makalata achindunji ndi kutsatsa komanso phindu lina pamapulojekiti a sheetfed omwe nthawi zambiri amakhala amphamvu nthawi ino ya chaka, adangothetsedwa.Ndipo kotero izo zinapitirira mu April.Inde, monga takambirana, ndizovuta kunena zomwe ziti zidzachitike.
Komanso, tinali ofewa mu Marichi, makamaka, ndipo zomwe zidapitilira mpaka Epulo mumikhalidwe yathu yapamwamba mwina zidakhudzidwa pang'ono ndi opanda ntchito.Komanso muzodzoladzola ndi chisamaliro cha kukongola, izi ndizovuta kwambiri, zopangidwa zamtengo wapatali.Ndipo zina mwazinthuzo zinkawonedwa ngati zosafunikira, ndipo makasitomala athu sanali kuyendetsa malo awo.Ndipo kotero Epulo, ndinganene, adapitilizabe zomwe tidaziwona mu Marichi zomwe Steve adafotokoza.
Mark Adam Weintraub, Seaport Global Securities LLC, Research Division - MD & Senior Research Analyst [18]
Ndipo ngati ndikanatha - ndiye ngati mutayika zonsezi mu Epulo, dongosolo la ukulu, zikadawoneka bwanji?Pat?
Patrick Edward Lindner, WestRock Company - Chief Innovation Officer & Purezidenti wa Consumer Packaging [19]
Pankhani ya ogula makamaka?Chifukwa chake, ndinganene kuti iyenera kuphwanyidwa ndi gulu lililonse.Koma ndinganene kuti April anali pansi chaka ndi chaka.Sindingathe kupereka nambala yeniyeni pompano chifukwa ndikoyambirira kwambiri ndi tsatanetsatane, koma modzichepetsa chaka ndi chaka komanso motsutsana ndi Marichi.Ndipo muwona - Steve adanenanso m'mawu ake, makamaka mozungulira SBS, makamaka chifukwa chokhudzidwa ndi malo ogulitsa omwe tidatenga pafupifupi matani 14,000 a nthawi yopumira, kutsika kwachuma m'mwezi wa Epulo, kuwonetsa kufewa komwe tinali nako muzamalonda.
Ndipo Mark, uyu ndi Ward.Ndingowonjezera, ndingalozenso ndemanga zanga zomwe ndidakonzekera titanena kuti ndalama ndi zopeza zidzatsika motsatizana.Ndipo nthawi zambiri, tikulowera munyengo mu theka lachiwiri la chaka pomwe ndalama zitha kuchuluka.Chifukwa chake ndikuganiza kuti ndemanga zomwe Jeff ndi Pat adakupatsani mweziwu zikugwirizana ndi malingaliro athu pakutsika kotsatizana kwa kotalali.
Pa funso langa loyamba, ndimadabwa ngati mutha kungolankhula pang'ono za dongosolo la kukula kwa mtundu wa ulusi wanu ukuwonjezeka, ulusi wanu wobwezerezedwanso ukuwonjezeka, kuyambira pansi, zomwe ndikuganiza mwina zinali mu gawo loyamba lazachuma ndiyeno luso lanu. kuti muchepetse izi.
Jeffrey Wayne Chalovich, WestRock Company - Chief Commerce Officer & Purezidenti wa Corrugated Packaging [24]
Mark, inde.Chifukwa chake takhala ndi kuchuluka kwakukulu kwa fiber yathu.Takwera mwina $50 kapena tani kupitilira apo.Ndipo ndi -- kufunikira kukutsalirabe kwa ulusi wobwezerezedwanso, koma m'badwowu watsutsidwa.Chifukwa chake kuyambira mu Marichi, tidawona kuchepa kwa mbadwo, makamaka chifukwa mabizinesi ambiri ndi ogulitsa.Chifukwa chake malo ogulitsa zakudya amakhalabe olimba, koma mabizinesi ena onse ogulitsa adafewa.Ndiyeno munali ndi kusintha kogula pa intaneti.Ndipo chifukwa chake ma OCC ambiri m'malo obwezeretsanso amakhala ndi chiwongola dzanja chochepa kwambiri kuposa momwe mumagulitsira m'malo ogulitsira ndi golosale.Kotero izo zapangitsa kuti kupanikizika kwapamwamba.Zomwe tikuchita kuti tithane nazo mubizinesi ndikuti timayendetsa ulusi wambiri wa namwali kapena ulusi wobwezerezedwanso kutengera mtengo wamagetsi mpaka kuthekera kwawo kuchita izi potengera mphamvu zofananira, kutengera mphamvu zawo pulping, kotero timatha kuchita izi. pafupi momwe ndingathere kuti athandizire kuchepetsa mtengo.Timachepetsa -- timayang'ana ma projekiti athu onse a Lean Six Sigma.Timayesetsa kuthetsa kukwera kwa mitengo ndi zokolola chaka chilichonse.Ndipo kutengera kutalika kwa OCC, tipitiliza kuyesa kubweza zonse zomwe tingathe.
Ndipo ndikuganiza panthawi ina, ngati mutayang'ana mmbuyo zaka 3 zapitazo, inali mphepo yamkuntho ya $ 300 miliyoni yomwe inali yovuta kwambiri kuti idutse.Koma pakali pano, tikuchita tokha ndikuchepetsa ndalama zina ndikusakaniza zathu - kusakaniza kwa fiber, kukhathamiritsa kusakanikirana kwa fiber kutengera mtengo wadongosolo.Ndiyeno pamene tikudutsa m’chaka, tidzawona ngati kupsyinjika kumeneku kukupitirira.Ndikuganiza kuti zikupitilira mpaka Meyi, ndiyeno tiwona zomwe zikuchitika.Koma monga tanena kale, ndizovuta kwambiri kulosera chilichonse pakali pano pamsika kutengera momwe COVID ikuyendera.
Chabwino.Ndizothandiza, Jeff.Zomwe ndidakhala nazo zinali pafupi ndi Gondi ndipo ndili ndi chidwi chofuna kudziwa momwe makina atsopano amayambira komanso momwe angakhudzire malonda anu ku Mexico.Koma ndilinso ndi chidwi chofuna kudziwa ngati pali chilichonse mumgwirizanowu chomwe chingakupangitseni kuti muwonjezere umwini wanu ku Gondi, tinene, kuyambira pano mpaka kumapeto kwa chuma cha '21?
Mark, nditenga funso lachiwiri.Mark, nditenga funso lachiwiri, ndipo Jeff, uyankha funso loyamba.Palibe chilichonse mumgwirizano wamgwirizano chomwe chingatipangitse kuti tiwonjezere umwini wathu.Ndiye takhazikika...
Jeffrey Wayne Chalovich, WestRock Company - Chief Commerce Officer & Purezidenti wa Corrugated Packaging [29]
Mexico ikukumana ndi mtundu womwewo wa msika womwe tili, Mark.Chifukwa chake m'badwo wa OCC umakhala wotsika m'mwamba, akuwonanso chimodzimodzi.Chifukwa chake kuchedwa kwina mu projekiti ya mphero kutengera momwe COVID ilili, ndiye kuti ikufalikira pang'ono.Ndiyeno ndinganene kuti misika yawo yogwiritsira ntchito mapeto ndi yaikulu - yokhala ndi zotsatira zofanana ndi zathu zomwe zili ku US
Mark, tipeza -- tiyika china chake pa 10-Q chathu chomwe chidzayankhe ku funso la Gondi.
Anthony James Pettinari, Citigroup Inc, Research Division - VP ndi Paper, Packaging & Forest Products Analyst [32]
Kungotsatira funso lakale kwa Jeff, kodi ndizotheka kuwerengera kuti voliyumu yochokera pamabokosi otsekedwa imatha nthawi yayitali bwanji?Ndipo ndizotheka kukula kwake?Ndiyeno, Jeff, ndikuganiza kuti munawonetsa kuti mavoti a Epulo anali otsika ndi 4% pomwe makasitomala akuluakulu akuwona kutsekedwa kwa mbewu.Kodi ndizotheka konse kuwerengera kuchuluka kwa kutsekeka, kaya kunali gawo laling'ono la kuchepa kapena theka kapena kuchepa kwakukulu?Kungoyesa kumvetsetsa mtundu wanji wa organic kukula kudzakhala.
Jeffrey Wayne Chalovich, WestRock Company - Chief Commerce Officer & Purezidenti wa Corrugated Packaging [33]
Zedi.Chifukwa chake gawo loyamba, Anthony, kutsekedwa kwa malo opangira mabokosi kudayamba mu Meyi chaka chatha, ndipo zatha mpaka Januware mpaka pano.Chifukwa chake pali -- ndipo ili pakati pa 0.6% mpaka pamlingo wokwanira kutseka.Choncho tikamadutsa zaka zambiri, ambiri a iwo adzatsika pamene tikudutsa chaka chonse.Ndiyeno mu April, ndikuganiza kuti kutsekedwa kunali kofunikira.Ndilibe tsatanetsatane wazomwe zilipo pamsika uliwonse.Koma misika yomaliza yomwe idatsutsidwa mu Marichi idakhalabe yovuta mu Epulo.Kotero mapepala ogawa, mapepala, mafakitale, ogulitsa, chakudya.Ndiyeno tidakhala ndi zotsatira zaulimi womwe udalipo, magawo omwe amapita ku ntchito yazakudya, zomwe mwina si theka la bizinesi yathu ya ag, koma ikadali gawo lalikulu, zidatsika kwambiri.
Mukayang'ana makasitomala athu 10 apamwamba omwe muli ndi makasitomala akuluakulu omanga thupi, muli ndi zinthu zambiri zogula, makampani ogulitsa katundu, zakudya zosinthidwa, apo - ndiye gawo lalikulu la mphepo yamkuntho yomwe tidakumana nayo.Chifukwa chake tinali, monga ndidanenera, ena mwa mabizinesi amenewo anali ndi zomera zopitilira 5, zonse zogulira zodziwika bwino, m'malo mwachinsinsi kenako mapuloteni, ndipo ndi Canada ndi US kwa ife.Kotero izo zinali zochititsa chidwi kwambiri za kugwa.
Ndiyeno ngati mungayang'ane, pali tchati m'sitima yathu pamagulu akulu, mukayang'ana kugawa pamapepala, ndipo ndikhoza kukupatsani ndendende mu kotala ya Marichi, idatsika 6.6% patsiku.Ndipo izi zikubwerabe mubizinesi iyi.Ndipo mukuganiza za 3 zazikulu kwa ife, gawo la bizinesi yawo ndi bizinesi yamagalimoto, magawo amagalimoto, ndizotsika kwathunthu.Ndiyeno bizinesi yosuntha, kusuntha kosungirako kumatsikanso kwambiri.Ndipo ndi 1 mwa makasitomala akuluakulu, Dipatimenti ya Chitetezo, adayimitsa maulendo onse a ntchito kupyolera mu June 1. Kotero ndilo gawo lina la mphepo yamkuntho.
Chotero m’madera aakuluwo, zigawo zazikuluzo zinali pansi.Ndipo ngakhale gawo lathu la Pizza lomwe lakhala lolimba komanso likukula likubwera mu Epulo.Ndipo ine ndiribe zimenezo makamaka pa April.Koma kukoma kwa magawo kumakhala kofanana kubwera mu April.
Anthony James Pettinari, Citigroup Inc, Research Division - VP ndi Paper, Packaging & Forest Products Analyst [34]
Chabwino.Ndizothandiza kwambiri.Ndiyeno funso chabe la, ine ndikuganiza, la malata ndi ogula.Tawona maiko ena akuyamba kukweza pogona m'malo ndikumvetsetsa kuti ndi masiku oyambilira, ndikungodabwa, mukamalankhula ndi makasitomala anu, kaya ndi chakudya kapena malonda kapena mbali zina zabizinesi, kodi izi kuti mukuwona ngati chothandizira chothandizira kuyitanitsa?Kapena mtundu wamtundu uliwonse womwe mungapereke kumeneko?
Jeffrey Wayne Chalovich, WestRock Company - Chief Commerce Officer & Purezidenti wa Corrugated Packaging [35]
Zedi.Ndiyamba kenako ndikutembenukira kwa Pat ngati kupitiriza.Ndilayambilira kunena.Ndipo monga ndidanenera, magawo omwe ali amphamvu akukhala ndi nthawi yopumira komanso mphepo yamkuntho chifukwa cha zovuta za COVID pa antchito awo.Chifukwa chake, tikukhulupirira, tikayamba kuyambiranso, tiyamba kuwona momwe zinthu zikuchulukirachulukira, koma kwatsala pang'ono kunena mu sabata yoyamba ya Meyi.Pat?
Patrick Edward Lindner, WestRock Company - Chief Innovation Officer & Purezidenti wa Consumer Packaging [36]
Inde.Ndipo zikomo, Jeff.Ndipo kungowonjezera pa mbali ya ogula, ndingagwirizane nazo.Ndikuganiza kuti -- mwina malo osinthika kwambiri pakali pano omwe tikuwona kuti ali pafupi ndi chakudya ndi chikho ndi mbale za SBS, komwe ndife ogulitsa malonda a SBS kumeneko.Chifukwa chake -- koma kwatsala pang'ono kunena zomwe zingachitike kumeneko, koma pakhala zosintha zambiri.Ndiyeno ina ikadali yosindikizidwa, yomwe ndinanena kale, yawona kuchepa kwakukulu.Ndipo kotero ife tikuyang'ana izo mosamala.Koma ndi kukayika konse komwe kulipo pakali pano, kwatsala pang'ono kunena ngati boma likutsegula kapena zina mwazinthu zokhudzana ndi chikhalidwe cha anthu zitha kukhala ndi tanthauzo posachedwa.
Steve, funso lowonjezera, mwina mwanzeru kapena nthawi yayitali, momwe mukuwonera kugula.Zina mwazochita zomwe zidachitika mkombero waposachedwa kwambiri, sizikuwoneka ngati akuchita bwino kwambiri pakugwa, MPS ndi ena mwa mizimu yapamwamba komanso fodya ndi KapStone, mwatchulapo zovuta zina pakupambana.Mwachiwonekere, chiwongoladzanja chiyenera kukhala chokwera pang'ono, ndipo tsopano tayenera kuchepetsa phindu.Chifukwa chake kwakanthawi kotalikirapo, mwachiwonekere, icho chakhala chiwongolero chopangira phindu ku WestRock chinali kugula.Koma kodi mukuganiza kuti mtsogolo, mwina tikhala osamala pang'ono ndipo mwina phindu silikhala lalitali monga momwe zakhalira m'mbuyomu ndipo mwina kugula kungatengere kumbuyo kuti muchepetse mwayi wamtsogolo ?
Zikomo pofunsa funso, Brian.Ndikuganiza pokhudzana ndi kugawa ndalama, kuchokera komwe tili, ndikuganiza kuti kuchepetsa ngongole kumayikidwa patsogolo kuposa kugula.Koma ndikuyembekeza pakapita nthawi yayitali, titha kupeza ndalama kuti tiwonjezere phindu ku kampani yathu.
Chabwino.Ndiyeno basi mtundu wokhudzana ndi izo, mukutenga njira zambiri kuti mupange ndalama ndikuwongolera ndalama.M'kati mwa mbiriyi, kodi pali zinthu zilizonse zomwe mungayang'ane kuti mugulitse kapena kuziyika kuti muyese kufulumizitsa ntchitoyi?Ndipo kodi pali magwero ena andalama omwe mungathe kuwakoka, monga, kunena, kuchokera ku ndalama zogwirira ntchito?Ndikuganiza kuti poyamba, izi zikanakhala chimphepo chachikulu kwambiri chaka, koma zinthu zasintha.Ndiye mukungodabwa ngati pali njira zina zopangira ndalama posachedwa?
Inde.Timayang'ana bizinesi yathu ngati -- ntchito yathu ndi kupanga ndalama, ndiye tiwona njira zina zonse.Tilibe chilichonse pazachuma chathu chomwe chili chodziwika bwino.Ndikuganiza kuti ndikuyang'ana Ward Dickson ndi John Stakel ndipo amayang'ana ndalama zogwirira ntchito tsiku ndi tsiku.Chifukwa chake tikuyang'ana njira zingapo zopangira - zomwe titha kupanga ndalama.
Uyu ndi Yohane pa Marko.Poyamba, kodi mungangoyankhulana ndi bizinesi yoyipitsidwa ndi momwe -- kuyankhula za kutalika komwe tili ndi kupeza ndalama zogulira?Ndiyeno kodi kuchuluka kwa magwiridwe antchito a board onse kunali kotani pa Q1?
Patrick Edward Lindner, WestRock Company - Chief Innovation Officer & Purezidenti wa Consumer Packaging [44]
Inde.Ndiye uyu ndi Pat.Chifukwa chake mozungulira bolodi la bleached ndi SBS makamaka, monga momwe Steve adafotokozera, fodya ndi kusindikiza zamalonda zakhala zikuchepa kwambiri, ndipo tikuwona zovuta zomwe zatsala pang'ono kukhudzana ndi kusindikiza zamalonda, komanso pang'ono pazakudya.Chifukwa chake tidakhala ndi vuto lazachuma m'mwezi wa Marichi ndi Epulo, kuwonetsa kuti mitengo yathu yogwirira ntchito sinali yokwera monga momwe zidalili kale.
Tsopano pofika nthawi imeneyo, ndinganene kuti tinali olimba kwambiri.Ndipo zinali, monga momwe mungayembekezere, ndi SBS, mitengo yogwira ntchito ikukwera ndi zotsalira zotsalira pafupifupi masabata 4 monga momwe zimakhalira.Koma zomveka, zomwe tawona m'magawo ena omwe timagwira nawo ntchito ya SBS kapena bolodi loyimitsidwa mwachiwonekere, tawona kusintha kumeneku pakutsika kwa miyezi ingapo yapitayo komwe kwakhudza kwambiri magwiridwe antchito.
Chabwino.Ndizothandiza.Kenako ndikutembenukira ku MPS mwachindunji.Mwayitana kufooka kwa ku Europe koma ndi magawo ati abizinesi a MPS omwe ali ofooka?Kodi pali china chilichonse kuwonjezera pa mizimu yapamwamba?
Basi -- uyu ndi Steve.Ndikuganiza kuti mayendedwe awo ku Europe ndi olemera ku Britain.Chifukwa chake akhala nawo -- ndipo ndikuganiza kuti Brexit yakhala yovuta kwa iwo.Ndipo chifukwa chake tikusuntha zopangazo mpaka kum'mawa momwe tingathere ku Europe.Chifukwa chake tasamutsira bizinesi ku Poland.Ndikuganiza kuti zigawo sizili zosiyana kwambiri ndi zomwe timawona ponseponse.Bizinesi yazaumoyo yachita bwino kwambiri.Ndipo bizinesi yodziwika ndi ogula idatsutsidwa kwambiri chifukwa cha zomwe Pat adanena za malo ogulitsira opanda ntchito ndipo ndimangotcha, bizinesi yokhudzana ndi COVID.
Ndikukhulupirira kuti inu ndi mabanja anu mukuyenda bwino.Ndikufuna kudziwa ngati mungathe kuyankhapo kalikonse za zomwe zikuchitika, makamaka pabizinesi yamalata ku Brazil.Ndikuyamikira kuti nyengo ikupita pang'onopang'ono, koma zomwe tawerenga mpaka pano mpaka mwezi wa Epulo zinali zitawona ndikuwonetsa kufunikira kwamphamvu kumeneko.
Jeffrey Wayne Chalovich, WestRock Company - Chief Commerce Officer & Purezidenti wa Corrugated Packaging [49]
Ndi Jeff.Nditenga izo.Chifukwa chake Brazil, ndikuganiza kuti zomwe mwawerenga ndizokhazikika.Amakhala ndi malonda abwino a boardboard chaka ndi chaka, pafupifupi 11%.Kutumiza kunja kwapamwamba kudera la South America ku Africanso.Ma voliyumu akwera 7% pabizinesi yathu yaku Brazil.Iwo adapambana msika, koma izi zidakula ndi 6-kuphatikiza peresenti yathanzi.Kukwera kwa Porto Feliz kukupitilira kuyenda bwino kwambiri.Akupitiriza kukulitsa bizinesi.Akukhazikitsa ma rekodi pa ma corrugator awo atsopano ndi ma EVOL ndipo kutukuka kumeneku kukupitiliza kuyenda bwino kwambiri.
Tikuwona mphepo zamkuntho kuchokera ku kachilombo ka COVID, koma sizinafike mpaka pano monga tawonera pano.Komanso, pulojekiti ya Tres Barras ikukonzekera ndipo ikukonzekera kuyamba, monga Ward adanena kale, mu theka loyamba la kalendala 2021. Tinachedwa pang'ono, kuchedwa kwa masiku 10, kutengera zochita zina za boma, kuchotsedwa, koma imabwerera mmbuyo ndikuyenda ndikuyenda.Chifukwa chake bizinesi yonseyo ikupitilizabe kuchita bwino kwambiri, ndipo misika yawo ikupitilizabe kukhala yolimba pakali pano.
Ndipo funso lotsatira, ine ndikuganiza, pa zamkati.Munanena kuti inali mphepo yamkuntho ya $ 20 miliyoni, ndikuganiza, mpaka theka loyamba la chaka.Pakhala pali zolengeza zamitengo zomwe taziwona.Ndikungofuna kudziwa zanthawi yake, titha kuwona bwanji gawoli, ndiye phindu lazachuma la 2021?Kapena ngati mwina ndi nthawi yomweyo chifukwa mumagulitsa pamsika wamalo?
Patrick Edward Lindner, WestRock Company - Chief Innovation Officer & Purezidenti wa Consumer Packaging [51]
Inde.Ndiye mwina nditenga izo chifukwa zili mu gawo la ogula.Ndipo zambiri zamkati zomwe timapanga zili mu dongosolo lathu la SBS pamene tikulinganiza - kulinganiza dongosololo ndi nthawi yotseguka.The -- ma voliyumu athu akuchulukirachulukira posachedwa, monga mukuwonera m'zakumapeto zomwe tasindikiza.Ndipo monga mukudziwa, mitengo yatsika, mitengo yosindikizidwa yatsika kwambiri.Chifukwa chake zakhudza kwambiri gawo lonselo.Zomwe zingachitike mu 2021 kapena kupitilira apo, ndizovuta kwa ife kupanga ndi zonse zosatsimikizika, sitingathe kutero.Koma ndi -- ndithudi, Marichi ndi Epulo ndikubwereranso kwa chaka chandalama cha chaka chino, zidakhudza kwambiri, chifukwa chake zimangoyendetsedwa ndi kukwera kwamitengo pamsika womwewo monga momwe zidasindikizidwa kale.
Ndikutanthauza, Gabe, kwa ife, ndi gawo laling'ono la bizinesi, monga mukudziwa.Koma motsatizana, tawona kukwera kwina kwamitengo yathu.Zimatsikabe chaka ndi chaka.Koma kotala yatha mpaka kotala ino, tawona kuwonjezeka kwa zamkati.
Chifukwa chake bwererani mwachangu pagawo la capital.Timamvetsetsa zomwe mwachita ndi gawoli komanso chifukwa chake.Kodi mungatikumbutse ngati muli ndi chiyerekezo chamalipiro?Ndipo pafunso lofananira, simunatchule kalikonse pa repo.Tikudziwa kuti mugwiritsa ntchito masheya kuti mupeze ndalama zothandizira.Koma mungatikumbutse kuchuluka kwa kupezeka komwe mungakhale nako pa repo?
Tili ndi ma sheya pafupifupi 20 miliyoni, ndipo sitinagulenso masheya kwa nthawi yayitali chifukwa takhala tikudziwikiratu kuti kugawikana kwathu kwa capitalization ndikuchepetsa ngongole.
Patrick Edward Lindner, WestRock Company - Chief Innovation Officer & Purezidenti wa Consumer Packaging [59]
Inde.Inde.The dividend, ndikuuzeni, tidakhala ngati tidakhala nthawi yayitali tikuganizira zomwe zinali zoyenera.Ndipo ndizovuta kutchula chiŵerengero cha malipiro enieni.Ndimayang'ana $ 0.80, zikuwoneka ngati $ 200 miliyoni.Titha kupanga $200 miliyoni ndipo tikuyenera kubweza $200 miliyoni kwa omwe tili nawo komanso momwe tingaganizire.Ndipo monga tidanenera m'mawu okonzekera, tiwona kuchulukitsa momwe zinthu zikuwonekera.Ndipo kotero ine ndikuganiza, n'kovuta kwenikweni kulankhula za chiŵerengero cha malipiro enaake mu chilengedwe.
Ndamva.Ndiyeno funso langa lachiwiri, 1 mwa ma sauces obisika a WestRock, osachepera m'malingaliro anga, ndi makina oyika makina omwe muli nawo m'maofesi a makasitomala anu.Ndiye kodi zikukhala zolimba kutumikira makina amenewo?Kapena zikangoikidwa, kodi zili kwa kasitomala kukonza makinawo?
Jeffrey Wayne Chalovich, WestRock Company - Chief Commerce Officer & Purezidenti wa Corrugated Packaging [61]
Uyu ndi Jeff.Chifukwa chake zochitika za COVID zapangitsa kuti zikhale zovuta kuchita izi.Koma ayi, tikutumiza zolemba ndi zida za PPE, zokutira kumaso, magolovesi.Timalankhula ndi makasitomala athu pazofunikira zawo muzomera ndiyeno zomwe tikufuna.Chifukwa chake tili ndi mapangano anthawi zonse omwe tikukwaniritsa komanso pakachitika zadzidzidzi pomwe makasitomala angatifune.Chifukwa chake gawo ili labizinesi tikupitilizabe kusuntha anthu motetezeka.Takhala ndi chipambano chachikulu pochita zimenezo.Ndipo malonda athu mu izi - mu bizinesi yathu yamakina akupitilira kukula.Monga Steve adanenanso koyambirira, takwera $300 miliyoni m'miyezi 12 yapitayi.Chosangalatsa ndichakuti, izi zikupitilira kukula, ndipo tikupitiliza kukulitsa bizinesi pamsikawu ndikugulitsa misika imeneyo.
Adam Jesse Josephson, KeyBanc Capital Markets Inc., Research Division - Director ndi Senior Equity Research Analyst [63]
Jeff, ndikungobwereranso ku ndemanga yanu ya Epulo kwakanthawi.Ndimangofuna kufunsa zinthu zingapo.Chifukwa chake ndikuganiza kuti mwanena kuti zotumiza zidachepera ndipo zotsalira zidatsika m'mwezi wonsewo chifukwa chake.Kodi mungatipatseko chidziwitso cha zomwe mphero yanu yosungiramo zinthu zakale ili tsopano poyerekeza ndi zomwe zinali kumayambiriro kwa Epulo, kungosankha tsiku?Ndiyeno pazamalonda a e-commerce, popeza kuti malonda a e-commerce ndi amphamvu kwambiri kuposa momwe ntchito yazakudya ikuvutikira, kodi mumadziwa zomwe zotsatira za kukula kwa malonda a e-commerce ndi momwe zimasinthira chakudya chotayika. ntchito ya utumiki?
Jeffrey Wayne Chalovich, WestRock Company - Chief Commerce Officer & Purezidenti wa Corrugated Packaging [64]
Chabwino, ndiye ndiyamba ndi gawo lomaliza.Bizinesi ya e-comm ili ndi manambala amphamvu awiri, ndipo izi zatsala.Ndipo muli ndi kukula kwakukulu pa intaneti komanso gulani pa intaneti ndikugula m'sitolo, yomwe inali gawo lomwe likukula mwachangu mu e-comm space kuyambira Marichi mpaka Epulo.Ponena za ntchito yazakudya komanso kuchotsera, ndizovuta kunena ngati peresenti chifukwa pali mabizinesi ambiri osiyanasiyana omwe amapereka chakudya, mkaka, ophika buledi, ulimi.Chifukwa chake ndizovuta kunena zomwe kuchotsera kungakhale ngati kuchuluka kwake.
Ponena za zotsalira, timayang'ana zotsalira mu bokosi la bokosi.Ndiye ife tiri -- ndikubwerera m'mbuyo kwa masiku 5 mpaka 10.Ndipo monga ndidanenera, kubwera mu Meyi, panali kukhazikika kuyambira Epulo komanso chithunzithunzi pang'ono kuchokera pazomwe tidawona sabata yachiwiri ndi yachitatu mu Epulo, koma ndi molawirira kwambiri kuti ndidziwe ngati izi ndizochitika kapena ayi pakali pano chifukwa cha kusakhazikika m'misika yathu.
Adam Jesse Josephson, KeyBanc Capital Markets Inc., Research Division - Director ndi Senior Equity Research Analyst [65]
Inde.Ndayamikira kwambiri.Ndipo 1 ina 1 yokha pa e-commerce, yomwe ndi, pazaka 3 zapitazi, yakhala yolima mwamphamvu, kukula kwa manambala awiri, panthawiyi, kufunikira kwa bokosi kunachoka pakukula ndi 3% kubwerera mu '17 mpaka kutsika. kuyika chaka chatha.Ndiye ndikungodabwa kuti kodi kukula kwa e-commerce kumakhudza bwanji msika wonse pomwe zikuwoneka ngati malonda a e-commerce akadali amphamvu kwambiri, koma kufunikira kwa bokosi kwatsika zaka zingapo zapitazi?
Jeffrey Wayne Chalovich, WestRock Company - Chief Commerce Officer & Purezidenti wa Corrugated Packaging [66]
Ndikuganiza kuti zangokhala - zimatengera kuchuluka kwa malonda a e-commerce pakali pano pamsika wamabokosi onse, Adam.Kotero ngati muyang'ana chiwerengerocho, ngati 10% mpaka 12%, ndikuganiza kuti mwina ndi ntchito ya chiwerengero cha e-comm.Ndiyeno muli ndi zolowa m'malo, muli ndi zolongedza zazing'ono, mumalembetsa, pali zinthu zina zambiri zomwe zimapita pamenepo.Koma ndikuganizabe kuti ngati muyang'ana mmbuyo pa kukula kolimba, kukula kosalimba, zinthu zimenezo, zina zosakhalitsa zatsutsidwa.Ndipo m'malo awa, amatsutsidwa kwambiri chifukwa cha mafakitale.Koma kuthekera kwathu kwakukula m'magawo pazaka zitatu zapitazi kwakhala kwabwino kwambiri.Ndipo pabizinesi yathu, ndili ndi chiyembekezo kuti titha kupitiliza kukula m'misika, chifukwa cha kanthawi kochepa ka COVID pano, mwachiyembekezo, kuti pakapita nthawi, tipitiliza kukula ndikupambana pamsika wathu.
Zikomo, wogwiritsa ntchito, ndipo zikomo kwa omvera athu pojowina kuyimba kwamasiku ano.Monga mwanthawi zonse, bwerani kwa ife ngati muli ndi mafunso, ndife okondwa kukuthandizani nthawi zonse.Zikomo, ndipo mukhale ndi tsiku labwino.
Nthawi yotumiza: May-11-2020