AptarGroup, Inc.

Ladies and gentlemen, thank you for standing by and welcome to APTAR's Group 2020 First Quarter Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question and answer session. Introducing today's conference call is Mr. Matt Della Maria, the Senior Vice President in Best Relations and Communications. Please go ahead, sir.

Thank you and welcome, everyone. Participating on the call today are Stefan Sanda, President and Chief Executive Officer, and Bob Kuhn, Executive Vice President, Chief Financial Officer and Secretary. You can find a copy of our press release as well as a slide presentation that summarizes our results on the website. If you are following along on our website, you can advance the slides by hovering over the presentation screen and clicking on the arrows. We will also post a replay of this conference call on our website. Today's call includes some forward-looking statements. Please refer to our SEC filings to review factors that could cause actual results to differ materially from those projected or contained in the forward-looking statements. APTAR undertakes no obligation to update the forward-looking information contained therein. I would now like to turn the comments call over to Sethan.

Thanks, Matt, and good morning, everyone. Thank you for joining us. Let me start by expressing my hope that you and your families are doing well and are staying safe during this difficult time. Before I comment on the results, I would like to share some thoughts on the COVID-19 crisis starting on slide three. During this unprecedented time, we are guided by our values as we support and care for each other and look forward to a brighter tomorrow. On this slide, you see some of the many photos and stories of our people rising to the challenge of supporting customers, consumers, and patients. To our employees around the world listening in on this call, I want to say thank you for all your efforts and continued perseverance to deliver on our promises. We have great pride in what we do, and our customers have expressed their immense gratitude for all of your efforts. Keep up the great work. Turning now to slide four, our facilities are open and operating, albeit some at reduced capacity. APTAR is an essential supply chain partner, supporting industries such as pharmaceuticals, consumer products, food and healthcare, all industries identified as critical by the U.S. Department of Homeland Security and by most other governments in the 20 countries in which we operate. Almost all of our customers and suppliers continue to operate as well. To date, we've experienced minimal supply chain disruptions, and we have been able to maintain substantially all of the incoming supply flows from our primary vendors. On slide five, you will see but a sample of our global solutions, which are critical to society during this time. Drug delivery, dispensing, sealing, and active packaging solutions can be found on a number of medicines, sanitizers, cleaners, and food and beverage products. We have engaged in very transparent discussions with our customers and suppliers about the state of the supply chain and our end markets. We are working closely together to bring specific COVID-19-related solutions to market, including sanitizers, which are now being made by some of our fragrance customers. In some cases, we have repurposed our food and beverage closures for sanitizer dispensing and ramped up certain production where needed. Turning to slide six, the health and safety of our people continues to be our first priority. Our COVID-19 global action team meets daily to identify and mitigate potential risks and the COVID-19 exposure control plan has been implemented at each APTA location early on. We maintain a proper balance of remote workers and on-site staff in order to support our ongoing production efforts. We are restricting all visitors to only those essential for business continuity and have escalated our cleaning and sanitizing procedures. We continue to encourage everyone to practice good hygiene and social distancing, and we are distributing masks as they have become available. We are also reporting and monitoring COVID-19 instances in real time, and we are keeping our people informed via frequent virtual town hall meetings. Moving to slide seven, I would like to recognize just a few ways in which we are supporting the communities where we live and work. Some of the many contributions include donating masks, gowns and protective glasses to local hospitals, 3D printing, mask holders, and face shields that are donated to local healthcare workers, partnering with a repurposed brewery to produce and package child sanitizer for children's hospitals, and raising money to support other local hospitals. These are just a few of the many examples of selfless acts of kindness from our people around the world. Turning to slide eight, I would like to offer a few comments on the quarter. our pharma business delivered another strong performance even when comparing to an outstanding first quarter last year. Core sales grew across each end market, with particularly strong growth in our injectables and active packaging businesses. The pharma team has identified over 150 potential projects as a result of the COVID-19 pandemic and continues to receive inquiries from the healthcare industry on an almost daily basis. Now turning to a recent product introduction, our PureHale respiratory device was chosen by Blair Exploratories for their new Breathe Free Essentials brand. Our PureHale device dispenses a fine mist of moisturizing saline and natural essential oils. Unlike traditional nebulizers, the PureHale system does not require batteries or the pre-filling of any reservoir and can be used on the go. Finally, as previously announced, we have also submitted an emergency use authorization request to the US FDA for N95 respirator decontamination using Apsaris ActiveShield material science technology. The request is progressing within the FDA. The final approval is still pending at this time. Based on the strong data package we have developed, we continue to be excited about the potential of this highly relevant innovation for decontamination and disinfecting solutions. Our beauty and home segment was negatively impacted by the closing of the travel retail sector during the quarter and the closing of traditional beauty retail settings during March. Reduced demand for hair care and sunscreen products also impacted our results, while increased demand for our dispensing solutions for sanitizers and cleaners was not enough to offset the declines. I would like to highlight that our spray actuator is featured on Lysol's NutriAir disinfectant spray, and our post-consumer recycled resin closures and spray pumps are featured on a line of pet care products from the Indie brand, Wild Wash. Turning now to food and beverage, sales were negatively impacted by a sharp decrease in on-the-go beverage closure sales and lower food service sales. due to the COVID-19 crisis, as well as the passing on of lower resin costs. However, in the quarter, we also supported Coca-Cola with expanding its Powerade product line for the first time in several years with a new zero-sugar beverage that features our sports closure. Turning to slide nine, we are continuing to execute our strategic priorities in parallel with our near-term actions related to COVID-19. To advance our capabilities and reach in Asia, we have completed our strategic equity investments in BTY, a leading manufacturer of metal and decorative accessories for the beauty market. As previously announced, we entered into a partnership with digital platform provider SunMall to bring to market new connected platforms for respiratory-related therapies. We also completed the acquisition of Fusion PKG, adding agile concept to launch and turnkey capabilities for the North American beauty market. While we met for the long term in high-growth areas of our beauty business, we remain committed to bring our transformation initiatives over the finish line with our goal to reach our long-term EBITDA margin target range. We also continue to work towards a circular economy where most packaging is reused and recycled. Furthermore, we are exploring opportunities for sustainable resins and collaborating with customers on refillable products. All these efforts position us well to help our customers achieve their objectives, many of which are to achieve packaging that is 100% recyclable or reusable by 2025. In addition, we continue to seek new applications for our material science active packaging solutions and have invested in growing our service platforms. With that, I will now turn it over to Bob, who is going to provide additional comments on our results.