The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Mark Neville - Scotiabank Global Banking and Markets, Research Division - Analyst
: Maybe just to follow-up the conversations on the commodities. When I think about your business, again, I think it's obvious, the to Innovia, I guess
I'm thinking about the sales segment and some of the other businesses. Just maybe talk about the commodity exposure. And I think historically,
you've done a great job of sort of managing some volatility, but maybe some kind of see a sense for how material do impact you think could be?
Question: Mark Neville - Scotiabank Global Banking and Markets, Research Division - Analyst
: Sure. Okay. And the comments you made about CapEx that were interesting. I'm just curious, I guess, 2 parts to the question. First, if there any parts
of the business now where you're capacity constrained? And I guess, second part, when you think about reopening, is there sort of any part of your
business you think that are sort of obvious that maybe face some headwinds? I think about hands sanitizer , but I don't think that actually goes
away. So I'm just curious if you think there's anything -- parts of the business that face obvious challenges as you reopen.
Question: Stephen MacLeod - BMO Capital Markets Equity Research - Analyst
: I just wanted to turn quickly to the CCL segment. You gave some comments for the first quarter expected to progress. Can you give a little bit of
color around maybe some segment-specific performance and how that has been different will vary based on lockdowns around the world?
Question: Stephen MacLeod - BMO Capital Markets Equity Research - Analyst
: Okay. Okay. That's great. And then just turning back to resins. The Innovia business, you did a lot of work sort of changing the contract structures
to pass-through those resin -- pass-through resin inflation. Woul you talk a little bit about sort of what you see in terms of that business' ability to
manage this current period of resin inflation? I don't know what that might give the margins?
Question: Stephen MacLeod - BMO Capital Markets Equity Research - Analyst
: Okay. Okay. That's helpful. And then maybe just turning to the Avery business. You talked about recoveries through the year, which has been
Question: Stephen MacLeod - BMO Capital Markets Equity Research - Analyst
: Yes. Okay. Okay, that's perfect.
Question: Stephen MacLeod - BMO Capital Markets Equity Research - Analyst
: I just wanted to follow-up on Innovia. And I don't want to do that -- of course your giving the resin price inflation. But I just wanted to -- is it
reasonable to expect that in Q1, you could be in a situation where EBIT gets sort of totally wiped out by the resin price inflation given how dramatic
it was? Or is that too extreme of a situation? And then maybe...
Question: Stephen MacLeod - BMO Capital Markets Equity Research - Analyst
: Yes. And would you expect that -- are you still seeing strong demand on the Innovia side, is this more a cost issue than a demand issue?
Question: Stephen MacLeod - BMO Capital Markets Equity Research - Analyst
: Right. So the demand is still robust?
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FEBRUARY 25, 2021 / 12:30PM, CCLb.TO - Q4 2020 CCL Industries Inc Earnings Call
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