Bemis Company 2007 Annual Report - IR Solutions

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Business SEGMENTS FLEXIBLE PACKAGING Bemis has been manufacturing flexible packaging products since our founding in 1858. Our products have evolved along with the industry, moving from cotton and burlap bags to paper and plastic packaging. Today, we use a variety of polymer resins and paper materials to produce packaging for a wide range of goods. Our products are specifically designed to meet the 70% 18% 11% 1% unique needs of our customers, whether that means creating a package that provides precise oxygen or moisture barriers, withstands harsh distribution systems, tolerates high-temperature aseptic packaging processes, offers innovative consumer convenience features, displays eye-catching graphics, or fulfills other criteria of a particular application. Applying our expertise in material science and polymer chemistry, we develop unique materials to satisfy these application-specific requirements. This strategy has helped Bemis become the largest flexible packaging company in North and South America. Through strategic acquisitions and capital investments over the past five years, we have also expanded our capabilities in Europe and established a growing presence in Asia. NET SALES BY REGION North America Europe Asia Pacific South America Bemis serves a wide variety of customers with products in nearly every aisle of the grocery store, as well as the consumer, industrial, medical and pharmaceutical markets. Nearly 30 percent of our flexible packaging sales go to the meat and cheese markets, where our unique packaging materials provide customers with premium quality packages that protect food safety, reduce waste, extend shelf life, and offer valuable consumer convenience features. FLEXIBLE PACKAGING MARKETS 10 2007 Annual Report • Processed & Fresh Meat • Cheese • Confections • Bakery • Dry Foods • Liquids • Pet food/Treats • Coffee • Frozen Foods • Snacks • Produce • Personal Care • Diapers • Tissue/Paper • Medical Devices • Pharmaceutical • Lawn & Garden • Feeds & Seeds • Unitizing/Display • Chemicals/Minerals ’07 ’06 ’05 ’04 ’03 NET SALES ($ in millions) $3,002 11.5 ’07 ’07 $3,000 $2,856 $2,250 $2,101 ’06 ’05 ’04 ’03 11.2 11.7 13.7 12.6 ’06 ’05 ’04 ’03 15.1 15.8 19.3 16.9 OPERATING PROFIT (% of net sales) OPERATING PROFIT (% of average investment) 15.2
PRESSURE SENSITIVE MATERIALS In 1959, Bemis invested in a start-up venture to develop pressure sensitive adhesive coated materials. Now a wholly owned subsidiary known as MACtac, our pressure sensitive business segment serves customers around the world with label, graphic and technical products. Our label product sales represented about 55 percent of total segment sales in 2007. Our broad array of label products offer varying adhesive characteristics depending on their applications, including products that perform well in very hot or very cold temperatures, wet environments, or corrosive conditions. Labels can be permanent or temporary, allowing a label to be removed and reapplied. Labels may also be used to create reclosable packaging. Our graphic products are sold to printers to be used in advertising and display, passenger train and fleet graphics, and other creative applications. These products are sold globally and are primarily manufactured in our European plants in Belgium. Bemis offers high-performance products that meet the needs of modern printing technologies, as well as unique materials that can be applied and maintained in challenging environments, including harsh weather conditions. Our technical products are designed to replace wet glue or mechanical fasteners with pressure sensitive adhesive. These products are often custom-made for each application, to be used in miniature electronic components assembly, automotive applications, home construction, and certain medical products. PRESSURE SENSITIVE MATERIALS MARKETS NET SALES BY REGION North America Europe Asia Pacific • Prime Labels • Variable Information Labels • Digital & Computer-aided Signage • Photo Overlay • Fastener Replacement 11 • Medical Applications Celebrating 150 Years ’07 ’06 ’05 ’04 ’03 NET SALES ($ in millions) $648 6.2 ’07 ’07 $639 $618 $585 $534 ’06 ’05 ’04 ’03 7.8 6.7 5.8 3.1 ’06 ’05 ’04 ’03 17.9 12.3 10.2 5.2 OPERATING PROFIT (% of net sales) OPERATING PROFIT (%of average investment) 14.4
Page 1 and 2: 2007 ANNUAL REPORT
Page 3 and 4: FINANCIAL HIGHLIGHTS Years Ended De
Page 5 and 6: In 1900, in order to secure a depen
Page 7 and 8: In the 1960s, Bemis embarked on an
Page 9 and 10: BUSINESS STRATEGY Our long-term bus
Page 11: Pictured from left to right are Hen
Page 15 and 16: This pizza package utilizes our ICE
Page 17 and 18: This pizza package utilizes our ICE
Page 19 and 20: BEMIS OFFICERS & DIRECTORS Director
Page 21 and 22: $0.94 $1.54 $0.40 $0.52 $144 $287 D
Page 23 and 24: UNITED STATES SECURITIES AND EXCHAN
Page 25 and 26: PART I - ITEMS 1, 1A, 1B, 2, 3, and
Page 27 and 28: Blown film - A plastic film that is
Page 29 and 30: and the application of such policie
Page 31 and 32: Equity compensation plans as of Dec
Page 33 and 34: Diluted earnings per share were $1.
Page 35 and 36: Research and Development Our effort
Page 37 and 38: (5) Purchase obligations represent
Page 39 and 40: Total increase (decrease) in Accumu
Page 41 and 42: Report of Independent Registered Pu
Page 43 and 44: BEMIS COMPANY, INC. AND SUBSIDIARIE
Page 45 and 46: BEMIS COMPANY, INC. AND SUBSIDIARIE
Page 47 and 48: Taxes on undistributed earnings: No
Page 49 and 50: In early 2008, the FASB issued Staf
Page 51 and 52: Also in January 2006, the Company c
Page 53 and 54: Accumulated other comprehensive inc
Page 55 and 56: (in thousands) 2007 2006 Change in
Page 57 and 58: Note 9 - LONG-TERM DEBT Debt consis
Page 59 and 60: that a valuation allowance of $7.1
Page 61 and 62: (in millions) 2007 2006 2005 Identi
Page 63 and 64:
ITEM 9 - CHANGES IN AND DISAGREEMEN
Page 65 and 66:
PART IV - ITEM 15 ITEM 15 - EXHIBIT
Page 67 and 68:
Exhibit Index Exhibit Description F
Page 69 and 70:
EXHIBIT 21 - SUBSIDIARIES OF THE RE
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EXHIBIT 23 - CONSENT OF PRICEWATERH
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(THIS PAGE INTENTIONALLY BLANK) 51
Page 75 and 76:
SHAREHOLDER & CORPORATE Information
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