Ball Corporation reports strong 2020 results

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Ball Corporation has reported strong 2020 results, with full-year net earnings of $585 million (€486 million), or $1.76 (€1.46) per diluted share, on sales of $11.8 billion (€9.8 billion).

In 2019, the company reported $566 million (€470 million) net earnings or $1.66 (€1.38) per diluted share, on sales of $11.5 billion (€9.55 billion). Ball’s full-year 2020 comparable net earnings were $987 million (€820 million) compared to $861 million (€715 million) in 2019.

Results reflect the 2019 sale of the company’s Argentine steel aerosol business and Chinese beverage can assets, and new segment reporting for the company’s beverage packaging, EMEA business and other non-reportable results.

The successful fourth quarter start-up of the company’s aluminium cup manufacturing facility in Rome, Georgia, will support the North American retail launch of the new aluminium cup during the first half of this year.

John A Hayes, chairman and CEO of Ball, said: “We finished 2020 with positive momentum. Significant demand growth for our aluminium packaging products and aerospace technologies continues, full-year comparable diluted earnings per share increased 17%, and our strong balance sheet and cash flow from operations underpinned $1.1 billion (€914 million) of capital investments to address sustainable growth across our global operations.

“Our company continues to be well-positioned, and our focus remains on our employees’ safety, our customers’ success, the efficient start-up of various multi-year, EVA-enhancing capital projects, and the training and development of our workforce to ensure value creation for our stakeholders in 2021 and beyond.”

During Q4, Ball’s global aluminium aerosol volumes increased in the high-single-digits, excluding the impact of the recently acquired Brazilian facility, and the aluminium cup business successfully ramped up production at its new facility in Rome, Georgia.

“As we embark on our 141st year in operation, our company has never been stronger and the opportunities never so vast,” said Hayes. “We achieved record 2020 results because of our team’s ability to adapt and work safely together while also leveraging our Drive for 10 vision and enduring culture to guide our journey through unforeseen challenges and emerging opportunities.

“The momentum in our business is accelerating, and we continue to hire and develop a diverse workforce and mentor next-generation leaders to execute multiple growth projects as efficiently and safely as possible with our employees, customers, and supply chains.

“In 2021 and beyond, we look forward to continuing to grow our cash from operations and EVA dollars on an even larger capital base, while returning capital to our shareholders and exceeding our long-term diluted earnings per share growth goal of at least 10-15%.”

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