Sealed Air Corporation (SEE) 2017年年度报告「NYSE」.pdf

1、Dear Fellow Stockholders:We had a strong finish to 2017 and are excited for the opportunities ahead.Our new innovations are making a difference in the industries we serve and enabling us to capitalize on the rapidly growing fresh food and e-Commerce markets.In 2017,net sales increased 6%to$4.5 billi

2、on and all regions delivered growth in the range of 2%to 8%.Adjusted EBITDA(1)increased 3%to$833 million,or 19%of sales,resulting in operating leverage(Profit to Growth ratio(1,2)of only 10%.We are taking actions to double our Profit to Growth ratio in 2018 with planned cost reductions and higher pr

3、ofitable sales of our market-leading solutions.We expect further improvement in this ratio as we take our operational excellence culture on how we design,buy,make,and solve packaging challenges to world class performance.To ensure our innovations deliver profitable growth and margin expansion,we are

4、 investing in sustainable solutions that help us capitalize on opportunities within our core business and in high-growth geographies and markets.2018 will be an exciting year for Sealed Air as we transition from being a premier packaging company to a world-class company serving the packaging industr

5、y.We will lead the industry by solving our customers most critical packaging challenges and leave our world,environment,and communities better than we found them.Sincerely,Ted DohenyPresident and Chief Executive OfficerSealed Air Corporation(1)Please see Sealed Airs Annual Report on Form 10-K filed

6、on February 21,2018 for important information about the use of non-U.S.GAAP financial measures relevant to this letter,including applicable reconciliations to U.S.GAAP financial measures.Adjusted Earnings Before Interest,Taxes and Depreciation and Amortization(“Adjusted EBITDA”)is a non-U.S.GAAP fin