CROWN HOLDINGS’ STOCK MARKET FALL WILL NOT AFFECT ITS GOOD RESULTS

In May, Crown Holdings was worth 12.2 billion euros on the stock exchange. The world leader in the manufacture of aluminum cans was at record highs at the beginning of the year but now the situation is different, its shares fell in the month of October by 12% in the stock market.

Half a year later, the American company is showing muscle in the stock market and trying not to fall below the psychological quota of 100 dollars per share after having reached 99.43 dollars per share, although at the moment it remains at the barrier of 101, 73 ‘greenbacks’.

The multinational company chaired and directed by Timothy J. Donahue has accused a logical profit collection in its unstoppable rise in the stock market at the beginning of the year. Despite all this, it still maintains a slight increase of 0.5% this year, but still far from the 36.12% recorded last year.

Crown Holdings made a profit of close to $214 million between January and June 2020 versus $339 million in 2021. Net sales also improved by 22% to $5,420 million compared to $4,443 million the previous year. In addition, trading revenues catapulted 67% to 712 million greenbacks.

On the other hand, the multinational, which has factories in seven Spanish provinces (Valencia, Murcia, Seville, La Rioja, Asturias, Badajoz and Pontevedra), announced last April the sale of 80% of its European tinplate business to the American fund Capital Partners. A divestment valued at around 1,900 million euros.

Nevertheless, Crown expects another record profit this year. The recovery in demand has been strong in regions such as Brazil, Europe, Mexico, the Middle East and Southeast Asia, which had been negatively affected by the pandemic.

To meet today’s growing demand for beverage cans, with a 20% increase, Crown Holdings has stepped up to the plate and is developing several capacity expansion projects worldwide, including both the construction of new plants and the addition of production lines to existing facilities.

By 2022 they expect to have 97 billion units of global beverage can capacity, an increase of 28%. In addition, in this fourth quarter, CCK will start operating a new single line plant in Vung Tau (Vietnam), as well as additional production lines in Olympia and Washington (USA) and Rio Verde (Brazil).