CANADA – Vancouver-based beverage company Wildpack has reported a total revenue of US$35.4 million (C$46.7m) in the financial year 2022 (FY22), up from US$28.28m in FY21.
During the year ending 31 December 2022, the company’s total production volume was 202.4 million units. Wildpack’s total costs and expenses exceeded its revenue at US$72.01 million.
In the fourth quarter (Q4) of FY22, the company’s revenue rose to US$9.76 million, up 47% compared to US$6.64 million in the corresponding period a year ago.
Its total costs and expenses over the quarter were US$30.57 million while net loss was US$20.81 million in Q4 FY23, compared with US$12.26 million in Q4 FY21.
Wildpack scaled up its production volume to 63.1 million cans in Q4 FY22, increasing 138% from 26.5 million cans in the prior year’s quarter.
During Q4 FY22, the company established strategic partnerships with Woodstream and EHPlabs.
Wildpack Beverage CEO Mitch Barnard said: “We are proud to maintain peak levels of utilization in the face of events that would have resulted in significant performance declines historically.
“This stress test provides the confidence our team needs to continue climbing utilization levels at an accelerated rate in the second half of the year.”
Wildpack Beverage, which provides beverage manufacturing and packaging to the middle market, reported confirmed sales orders amounting to US$7.56 million and its confirmed sales orders were 312 in June this year.
During that month, the company’s total throughput totaled 37,018,967 cans.
The company decorated 4,941,215 cans and filled 3,428,587 cans. It printed 5,437,226 sleeves and brokered 23,211,939 cans over the course of the month.
Meanwhile, in August last year, the beverage company signed a long-term purchase and supply agreement with Ball Corporation for sustainable aluminium beverage packaging.
The supply agreement improved the network strategy benefits of Wildpack to ease the burden of freight expenses on the manufacture of aluminium beverages for its clients
Ball maintains a huge network of production facilities that will operate well with Wildpack’s six current locations across the country, said Wildpack.
Through the agreement, Wildpack could expand its printed can and warehousing services not only in the Grand Rapids facility but also at the remaining five locations and any upcoming Wildpack locations in the US.
Wildpack Chief Growth Officer, Thomas Walker at the time said: “Wildpack is delivering on our commitment to ensure our customers have ongoing access to sustainable beverage packaging in the U.S.
“Our partnership with Ball will allow us to provide our customers with high-quality aluminium packaging, at competitive prices.”
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