AptarGroup, Inc.

Ladies and gentlemen, thank you for standing by. Welcome to APTA's 2025 First Quarter Results 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 Mrs. Mary Scafidis, Senior Vice President, Investor Relations and Communications. Please go ahead.

Thank you. Hello, everyone, and thanks for being with us today. Our speakers for the call are Stefan Tanda, our President and CEO, and Vanessa Canu, our Executive Vice President and CFO. A press release and accompanying slide deck have been posted on our website under the Investor Relations page. During this call, we will be discussing certain non-GAAP financial measures. These measures are reconciled to the most directly comparable GAAP financial measure and the reconciliations are set forth in the press release. Please refer to the press release disseminated yesterday for reconciliations of non-GAAP measures to the most comparable GAAP measures discussed during this earnings call. As always, we will also post a replay of this call on our website. I would now like to turn the call over to Stefan. Stefan, over to you.

Thank you, Mary, and good morning, everyone. We appreciate you joining us on the call today. I will begin my remarks by highlighting our first quarter results. Later in the call, Vanessa Canu, our CFO, will provide additional details on key drivers for the quarter. Starting on slide three, for the first quarter, we delivered adjusted earnings per share of $1.20. Neutralizing for currency effects and tax, earnings per share would have increased approximately 5% over the prior year period. We saw solid demand for our pharma segment's proprietary drug delivery systems, especially technologies for emergency medicines, central nervous system therapeutics, asthma, COPD, and ophthalmic treatments. Additionally, strong active material sales in diabetes solutions and royalties contributed positively to our quarterly results. Core sales for our proprietary drug delivery systems grew 4% in the quarter, following high single-digit core sales growth in the prior year period. As we expected, quarter one 2025 was impacted by softer demand for dispensing technologies in nasal saline and nasal decongestants. The strong cold and flu season is helping to deplete some of the inventory built up. At this time, aside from the US, we are not yet seeing an inflection point in our order book, indicating that there is still inventory in the system. Our proprietary drug delivery systems reported sales have grown over the prior year period for 12 quarters in a row, growing double digits in six of those quarters. We are very proud of the success of the team, fueled by record launches, new innovations, and the quality and the reliability of our products, essential in administering life-saving medications. And while we anticipate there will be phases of rapid growth and more moderate growth, we remain confident in our growth prospects. Our long-term growth is driven by strong macro trends, such as the decentralization of healthcare, growth of generic medicines, the switch of drugs to over-the-counter markets, and always worsening allergies. The injectables division had a challenging comparison over the prior year period, Our order book for injectables in 2025 is robust, and we expect to continue to see good demand from GLP-1 and Biologics. We continue to ramp up equipment capacities and our validation efforts to service the attractive growth in this end market. In our beauty segment, prestige fragrance and facial skincare end markets remain challenged. However, we saw sequential improvements in sales, including in Europe from certain fragrance companies, and progressive improvement in China. Turning to the closure segment, the solid product sales results in the quarter were offset primarily by meaningfully lower tooling sales and the discontinuation of activities in Argentina. Improving utilization rates and continuous cost management efforts coupled with our strong innovation pipeline are contributing to top line and bottom line results. Moving to slide four, I am proud to highlight recent corporate awards and recognitions. We believe operating in a sustainable manner and developing more sustainable product solutions is an important competitive advantage for Aptar. As a reflection of our progress during the quarter, we were named one of Barron's most sustainable U.S. companies for the seventh consecutive year. We also achieved the coveted Echo Rates Platinum level rating in recognition of our sustainability efforts for the fifth consecutive year. The platinum rating places us among the top 1% of more than 150,000 companies rated by EcoVadis across all industries. Turning to innovation, I want to highlight a few recent technologies and product launches as shown on slide five. Starting with our pharma segment, our nasal delivery system is the solution for nasal saline rinse in Germany. In China, our ophthalmic squeeze dispenser is the solution for the multi-dose preservative-free drops by VisionX Lab. Last but not least, we recently announced a clinical validation study for our SmartTrack services platform. After almost a decade of development, aiming to reduce the need for clinical trials in generic inhaled drug approvals by leveraging in vitro, in silico methods to predict clinical outcomes. The validation study is scheduled for the second quarter of 2025 and is a key step forward in proving the platform's effectiveness. We expect that SmartTrac will help our customers speed up ANDA approvals and make generic inhaled medicines more accessible to patients. We anticipate the study to also support efforts such as creating low global warming potential powder meter dose inhaler formulations. developing new drug combinations, repurposing drugs, and advancing new chemical entities. In beauty, our refillable fragrance pump is the dispensing solution for L'Oreal's new Yves Saint Laurent fragrance in Europe. In Latin America, Oboticario has selected our pump for a new men's fragrance, and our custom dispensing pump is on the Beiersdorf Eucerion brand lotion. In Asia, our customized cosmetics pump is used on PNGs or Layserum facial skincare product. Our buildable drop-by-drop dispenser is featured on the Boima Suncare brand in the US. Moving to closures, Hidden Valley Rant inverted salad dressing features our new lightweight closure with fully recyclable valve, now on the grocery store shelves in North America. In Latin America, L'Oreal is featuring our fully recyclable e-commerce capable desktop solution on its Garnier Fructis hair care products. And in China, our sports closure is featured on the New Lean brand sports drink. Before I turn the call over to Vanessa to share further details on the quarter, I want to highlight that we ramped up our share repurchases in the first quarter, repurchasing more than half a million shares for about $80 million. Our share repurchases underscore our belief in the future trajectory of the company. Now I will turn the call over to Vanessa.