16 December 2020
Transcontinental Sales Down Earnings Up.
MONTREAL—
Canada's largest printer and becoming one of North America,s largest packaging printer
Canada's largest printer and is becoming one of North America,s largest packaging printers
Revenues decreased by $135.2 million, or 17.1%, from $790.9 million in the fourth quarter of 2019 to $655.7 million in the corresponding period of 2020. This decrease is largely attributable to lower volume in the Printing Sector, mostly due to the impact of the COVID-19 pandemic. Operating earnings decreased by $75.0 million, or 48.0%, from $156.2 million in the fourth quarter of 2019 to $81.2 million in the fourth quarter of 2020.  Adjusted operating earnings increased by $3.3 million, or 3.1%, from $106.8 million in the fourth quarter of 2019 to $110.1 million in the fourth quarter of 2020.
The increase in adjusted operating earnings is largely attributable to organic growth in operating earnings in the Packaging and Media sectors, partially offset by the disposal of the paper packaging operations and lower volume in the Printing Sector.
Also of note is launch of  new packaging made of 30% post-consumer recycled plastic for the case wrap of AHA® Sparkling Water, a brand of The Coca-Cola Company.
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