Charles Héaulmé, President and CEO: “We maintained our growth trend during the last quarter of the year in an economic environment challenged by the trade war between the USA and China, the announced Brexit and the amplified concerns around sustainability of the planet. Despite the uncertainty in the global economy, demand for foodservice and pre-packed food packaging was good in 2019. Our net sales reached EUR 3.4 billion for the year 2019, increasing by 10% with the comparable growth at 6%. All our business segments contributed, especially North America. Net sales increased as a result of positive volume development and pricing management. Currencies movements had a positive impact on net sales during the year.
"Our profitability improved in the last quarter as well as during the full year, particularly driven by pricing and operational improvement in all businesses.
"Good progress on many fronts continued during 2019. The ramp-up of Goodyear, our new plant in Arizona progressed well. In April, our new, state-of-the-art flexible-packaging unit in Egypt was inaugurated and in October, our newest fiber-packaging line was launched in Russia. In addition to investments in new units and packaging lines, we announced three acquisitions during 2019: Everest Flexibles in South Africa, Mohan Mutha Polytech in India, and full ownership of our joint venture company Laminor in Brazil. All three acquisitions support our growth in developing markets.