MULTINATIONAL BALL CONFIRMS ITS STABILITY WITH SOLID RESULTS IN 2021

The multinational company, Ball Corporation, confirms its strength after announcing its results for the fourth quarter and for the full year 2021. Specifically, net income attributable to the corporation was US$878 million for the last twelve months.

Compared to the fourth quarter of last year, the company’s fourth-quarter earnings amounted to USD 297 million, slightly higher than the EUR 227 million achieved in the same period of the previous year.

In this regard, John A. Hayes, Chairman and CEO notes that “we had a strong finish to 2021 and returned approximately $950 million to shareholders after deploying $1.7 billion of capital expenditures to support our growth during the year. Underlying demand for Ball’s portfolio of sustainable aluminum packaging and innovative aerospace technologies continues to outstrip supply.”

In this regard, the executive adds that “our teams executed at a high level to complete major capital projects on time and on budget to meet accelerated customer demand in 2022 and beyond. During the fourth quarter, the company increased comparable earnings per diluted share by 20 percent compared to the fourth quarter of 2020, initiated additional cost recovery mechanisms, and continued to hire talent and rebuild finished goods inventory to position the company for long-term growth despite associated challenges. with pandemic, natural disasters and global supply chain disruptions.”

For his part, the corporation’s CEO, Daniel W. Fisher, emphasizes that “Ball is stronger than ever. In 2022 and beyond, we expect to increase our cash from operations, EVA dollars, return even more capital to our shareholders and exceed our long-term diluted earnings per share growth target of at least 10-15%.”

In relation to the beverage packaging segment, in North and Central America, the comparable segment’s operating profit for the full year 2021 was US$681 million. According to the company, year-over-year sales reflect higher shipments, the contractual pass-through of higher aluminum costs and a better price mix.

Demand for aluminum beverage containers continues to outstrip supply in North America. In addition to the new beverage can manufacturing facilities in Glendale, Arizona and Pittston, Pennsylvania, which became operational in 2021, the company will begin construction of new beverage can manufacturing facilities in North Las Vegas, Nevada and Concord, North Carolina, in 2022 and 2023, respectively, to serve long-term committed volume with strategic global and regional customers serving all beverage categories.

For beverage packaging, EMEA, comparable segment operating profit for the full year 2021 was $452 million on sales of $3.5 billion compared with $354 million on sales of $2.9 billion in 2020. Comparable segment operating profit for the fourth quarter was US$103 million.

This data confirms the shift in the packaging mix towards sustainable aluminum cans, and demand is outstripping supply. Successfully executed line ramp-ups in 2021 and new projects in the United Kingdom, Russia and the Czech Republic during 2022 will enable further volume growth and operating profits and are supported by long-term contracts.

In the South American market, comparable segment operating profit for the full year 2021 was US$348 million on sales of US$2.0 billion compared to US$280 million on sales in the prior period.

In Brazil, demand for sustainable aluminum packaging remains strong despite unusually cold and rainy weather conditions during the busy fourth quarter summer sales season. To support long-term contracted volume growth and can filling investments across South America, the company’s new beverage can manufacturing plant in Frutal, Brazil, will start up its second line during the first quarter of 2022.

Finally, Scott C. Morrison, executive vice president and chief financial officer concludes by noting that “we expect to realize higher returns on recently commissioned investments, pursue additional organic growth opportunities supported by long-term contracts with global strategic partners, and increase shareholder value return through share repurchases and dividends in 2022.”