Bemis Sets Long-term Financial Targets

(RTTNews) - Bemis Company Inc. (BMS) said it expects revenue to grow from $4.3 billion in 2014 to $5.8 billion in 2019, assuming constant currency. Revenue growth through 2019 is anticipated to be equally balanced between organic and inorganic growth.

The company today held an investor conference at which President and Chief Executive Officer, William Austen, and members of the Company's global leadership team provided the investment community with an overview of the Company's long-term financial targets and strategic priorities.

Operating margins are expected to increase in the U.S. Packaging segment from 13.1% in 2014 to the range of 15% to 18% in the next three to five years; margins are forecasted to increase in the Global Packaging segment from 7.6% in 2014 to greater than 10% in the next three to five years. Drivers of this improvement include increased sales of sophisticated, value-added products to meet global demand, productivity improvements, and the benefit of commercial decisions supported by enhanced data and analytics.

Michael B. Clauer, Bemis' Vice President and Chief Financial Officer, commented, "We expect these margin targets to deliver earnings per share improvement of approximately 10 percent per year as we continue to execute our long-term strategy."

Operating cash flow is forecasted to be approximately $550 million in 2019.