Overview Key strengths Key risks Broad exposure to nondiscretionary markets helps support volume through periods of economic weakness Operates in the highly competitive, rigid plastic packaging space Raw material pass-throughs mitigate resin cost volatility Increasing focus on sustainable packaging solutions could pressure operating margins in the long term Potential group support for acquisitions or liquidity needs Acquisition-dependent growth strategy and shareholder rewards could inhibit sustained deleveraging Altium?s revenues grew 3.6% in 2023 mainly due to the full-year impact of the August 2022 acquisitions of Plastic Industries and Anderson Plastics, slightly offset by reduced demand from customer inventory destocking and the pass-through of lower resin pricing. The company?s business segments offer diversification across nondiscretionary end markets, offering more stability compared to
