Wildpack Beverage Reports Numerous Throughput Records in August

August 2023 Highlights (in USD):

• Confirmed Customer Orders: $4,799,368.
• Confirmed Sales Orders: 322.
• New Customer Conversions: 51.
• Total Throughput: 38,395,572 cans.
• Decoration Throughput: 6,235,608 cans.
• Filling Throughput: 2,515,200 cans.
• Printed Sleeve Throughput: 4,137,129 sleeves.
• Brokering Throughput: 25,507,635 cans.
• Plant Utilization: 45%.

VANCOUVER, BC / ACCESSWIRE / September 13, 2023 / Wildpack Beverage Inc. (TSXV:CANS) ("Wildpack Beverage" or the "Company") a leading middle market co-packer of canned goods announced key performance indicators (all currency amounts in USD) for the month of August 2023. The Company reported record Total Throughput, Decoration Throughput, Brokering Throughput and Plant Utilization.

Foto: Accesswire

Conversion of Confirmed Customer Order backlog led to records in all sectors of the business not undergoing or ramping up from capital improvements. During the month Baltimore co-packing recommenced production after its fulsome automation upgrade and is expected to ramp to steady state production rates by November 2023. Las Vegas printing is currently in the process of installing a new high-speed printing press along with complementary finishing equipment that is expected to reach steady state production rates in November 2023.

Setting records in non-affected segments, while successfully balancing the demands of capital projects, Wildpack has proven its capacity to execute a comprehensive strategic vision. This achievement underscores the organization's resilience and determination in pursuing a future characterized by sustainable growth. Operating leverage remains the Company's primary strategy to expand profitability.

We did see a minor decrease in Confirmed Customer Orders in the month, which Management attributes to the long lead-times of our primary demand driving co-packing service. Demand for other services remained strong and as additional capacity is realized during and following the ramp of the enhanced Baltimore co-packing line, we expect a reversion to the trend.

"The business continues to trend positively due to the hard-working and dedicated Wildpack team who have been dedicated to improving processes while maintaining an entrepreneurial culture across the firm. We are well on our way to achieving our goal of profitability and remain entirely steadfast to achieving it. Beyond our quantitative performance metrics, we continue to gain harder-to-measure competitive advantages from the size and comprehensive scope of our operation compared to our competitors," expressed Mitch Barnard, CEO of Wildpack Beverage.