Graphic Packaging Holding Company reported net income for 4Q 2020 of $64.2 million, or $0.24 per share, based on 270.3 million weighted average diluted shares. This compares to 4Q 2019 net income of $33 million, or $0.11 per share, based on 291.7 million weighted average diluted shares.
For the full year 2020, net income was $167.3 million, or $0.60 per share, based on 279.6 million weighted average diluted shares. This compares to 2019 net income of $206.8 million, or $0.70 per share, based on 294.8 million weighted average diluted shares.
Net sales increased 8.7% to $1,652.1 million in the 4Q 2020, compared to $1,519.8 million in the prior year period.
Net sales increased 6.5% to $6,559.9 million for the full year 2020, compared to $6,160.1 million in the prior year. The $399.8 million increase was driven by $408 million of improved volume/mix from organic growth and acquisitions. These benefits were partially offset by $1.2 million in pricing and $7 million of unfavorable foreign exchange.
EBITDA for the 4Q 2020 was $250.5 million, an increase of $44.9 million from the 4Q 2019. Adjusted EBITDA increased $6 million to $264.8 million in the 4Q 2020 from $258.8 million in the 4Q 2019.
EBITDA for the full year 2020 was $854.2 million, a decrease of $97.8 million from the full year 2019. After adjusting both periods for charges associated with business combinations, pension plan settlement charges and other special charges, Adjusted EBITDA increased 3.9% to $1,069.8 million in the full year 2020 from $1,029.9 million in the full year 2019.
Michael Doss, the Company's President and CEO said: "Net organic sales growth of 4% in 2020 confirms our fiber-based packaging solutions are winning in the growing markets where we are focused. Our strong 2020 results and the momentum we have entering 2021 are consistent with our Vision 2025 goals. We are partnering with customers to elevate their brands in the marketplace, while supporting both customer and our own sustainability goals. The strategic investments we are making position us for continued growth and cost leadership in the industry and will allow us to further accelerate our product innovation capabilities. We expect to generate 100 to 200 basis points of sustainability supported net organic sales growth in 2021 and deliver net productivity improvements to drive continued EBITDA growth during the coming year."
Graphic Packaging Holding Company is a leading provider of sustainable paper-based packaging solutions for a wide variety of products to food, beverage, foodservice, and other consumer products companies.
