Toronto, Canada — February 25, 2026. CCL Industries reported fourth quarter and full-year 2025 results, delivering record annual adjusted earnings despite softer consumer end markets in parts of its portfolio.

The Canada-headquartered packaging and specialty label supplier posted Q4 sales of $1.88 billion, up 3.5% year on year. Full-year sales reached $7.66 billion, rising 5.8%.

Adjusted basic earnings per Class B share increased 7.4% to $4.64 for 2025, marking a record for the group. Full-year operating income rose 8.7% to $1.24 billion, with operating margin expanding to 16.2%.

CCL operates 214 production facilities across 42 countries, serving global consumer packaging, healthcare, electronics and security markets.

At a Glance: CCL Industries Q4 & FY2025

  • Q4 sales: $1.88 billion (+3.5%)

  • FY2025 sales: $7.66 billion (+5.8%)

  • FY2025 operating income: $1.24 billion (+8.7%)

  • Adjusted EPS FY2025: $4.64 (+7.4%)

  • Free cash flow: $891.3 million

  • 2026 capital expenditure plan: $470 million

Segment Performance

The core CCL segment delivered 3.6% organic sales growth in Q4, with double-digit growth in Asia Pacific and the Middle East and mid-single digit gains in Europe.

Home & Personal Care labels and U.S. tube operations supported performance. Closures improved profitability within Food & Beverage. Electronics-related design applications recorded strong momentum.

Avery posted 3.8% organic growth in the quarter with margin expansion. Checkpoint and Innovia reported organic declines, partially offset by foreign currency translation.

Fourth-quarter operating income improved 4.8% to $280.7 million.

Why It Matters for Packaging & Supermarket Supply Chains

CCL Industries is the world’s largest converter of pressure-sensitive labels and specialty films used across:

  • FMCG packaging

  • Food & Beverage labelling and closures

  • Private label branding

  • Retail security and RFID tagging

Performance in Home & Personal Care and Food & Beverage provides read-through for supermarket-exposed categories. Margin expansion indicates disciplined cost control despite mixed consumer demand.

Checkpoint’s RFID and inventory solutions continue to support retail inventory accuracy and shrink management, reinforcing packaging’s role within digitally connected retail environments.

Capital Allocation and Outlook

Free cash flow from operations reached $891.3 million, the highest in the company’s history.

CCL returned $523.7 million to shareholders in 2025 through dividends and share repurchases.

Net leverage ended the year at 0.78x Adjusted EBITDA, maintaining balance sheet flexibility.

Capital expenditure of $470 million is planned for 2026, focused on greenfield projects, technology upgrades and capacity additions across its global footprint, including continued investment in packaging operations in Canada.

Orders are described as steady entering 2026, although management noted continued external economic uncertainty. Currency translation is expected to provide a modest tailwind in the first quarter at current exchange rates.

The company will host a webcast on February 26 to discuss results.

Editor’s Note: This article is based on CCL Industries’ official fourth quarter and full-year 2025 financial release published February 25, 2026. All financial figures are reported in Canadian dollars and reflect company disclosures.