For the second quarter of 2025, can body volumes remained stable compared to the same period in 2024. In the first six months, volumes increased by 1% year-on-year, mainly driven by growth in the U. S. and India, partially offset by declines in Europe and Brazil.
The Net sales grew by 10% in the second quarter of 2025 compared to 2024 and by 9% in the first half, reaching USD 1,159 million as of June 30, compared to USD 1,056 million in the previous year. This increase was largely supported by the contractual transfer of higher aluminum prices and premiums.
Adjusted EBITDA decreased to USD 143 million in the quarter and USD 282 million in the first half, mainly due to higher labor and aluminum conversion costs, additional logistics expenses in India, and lower sales prices linked to inflation adjustments, partially offset by increased volumes.
Capital expenditure grew significantly, reaching USD 56 million in the second quarter and USD 108 million in H1 2025, compared to USD 29 million and 59 million in the same periods of 2024, reflecting capacity expansions and increased planned maintenance.
Free cash flow improved markedly: in Q2 2025, the cash outflow was reduced to USD 16 million, compared to USD 36 million in Q2 2024. For the first half, free cash flow turned positive with USD 50 million, from a negative flow of USD 162 million the previous year, driven by a smaller increase in working capital.
In response to growing demand and to strengthen the packaging industry in Colombia and neighboring countries, Canpack has announced a new greenfield plant near Barranquilla, supported by a long-term agreement with a strategic customer. The facility will have an annual capacity of approximately 1 billion aluminum can bodies.
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