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May 6, 2022

Ball records $3.71bn in sales during first quarter of FY22

The company has separately announced its decision to withdraw from Russia and pursue the sale of its Russian business.

US-based aluminium packaging provider Ball has reported $3.71bn in sales for the first quarter (Q1) of the fiscal year 2022 (FY22) compared with $3.12bn in the same period of the previous year.

During the quarter, sales of the company’s beverage packaging in North and Central America reached $1.6bn and its comparable segment operating earnings for the region were $174m compared to $140m during Q1 2021.

In Europe, the Middle East and Africa (EMEA) and South America, sales from beverage packaging reached $942m and $494m respectively.

The company’s EMEA comparable segment operating earnings for Q1 2022 were $100m and its comparable segment operating earnings in South America were $78m. 

For the three months to 31 March, Ball’s comparable earnings for each diluted share rose 7% to $0.77 against $0.72 a year earlier.

Ball president and CEO Daniel Fisher said: “We delivered strong first-quarter results amid significant geopolitical and economic conditions across multiple regions where we operate.

“Comparable diluted earnings per share and comparable operating earnings increased 7% and 6%, respectively.

“Our global team executed at a high level to navigate persistent supply chain disruptions and inflation while also commissioning capital projects on time and on budget to serve growing customer demand across our global packaging and aerospace businesses.”

The strong performance comes despite Ball’s decision to suspend future investments in Russia and divest its Russian business to new ownership.

The business accounted for approximately 4% of the company’s total net sales in 2021.

Ball executive vice-president and CFO Scott Morrison said: “In 2022 and inclusive of the announced intention to sell our Russian business, we look forward to growing our cash from operations and growing our comparable diluted earnings per share while also accelerating the return of capital to our shareholders via share repurchases and dividends.”

Earlier this year, Ball started building a can manufacturing facility at SEGRO Park Kettering Gateway in Kettering, UK.

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