Print Page     Close Window     

SEC Filings

8-K
BALL CORP filed this Form 8-K on 02/07/2018
Entire Document
 


Year-over-year and fourth quarter segment volumes were up high single-digits and mid-teens, respectively. Overall beer consumption trends improved in the fourth quarter of 2017 and the packaging mix shift from two-way glass to beverage cans continued throughout 2017 across South America. The company recently announced plans to construct a beverage can plant in Paraguay to support contracted volumes for the growing demand for infinitely recyclable, environmentally friendly aluminum beverage packaging across Paraguay, Argentina and Bolivia. Ball also benefitted from third-party end sales as part of the Rexam acquisition and concurrent divestment of certain Brazilian assets. The ends manufacturing production will transition to the divested business in the first half of 2018.

Beverage Packaging, Europe
    Beverage packaging, Europe, comparable segment operating earnings for full-year 2017 were $233 million on sales of $2.4 billion, compared to $217 million on sales of $1.9 billion in 2016. Comparable segment operating earnings in the fourth quarter of 2017 were $49 million on sales of $536 million, compared to $32 million on sales of $456 million in 2016. Comparable full-year and fourth quarter 2017 segment operating earnings included the net effect of the June 30, 2016, Rexam transaction and approximately $32 million and $8 million of incremental year-over-year depreciation expense, respectively, related to the final acquisition accounting completed on June 30, 2017.
Comparable segment earnings for the fourth quarter of 2017 reflect ongoing operational efficiencies related to optimizing our plant network. Segment demand was up low-single digits in the quarter led by favorable demand trends, particularly in Russia and the Iberian Peninsula. Construction continues on the company's new Madrid, Spain, aluminum beverage can facility, which is scheduled to start production in mid-2018.

Food and Aerosol Packaging
Food and aerosol packaging comparable segment operating earnings for the full-year 2017 were $102 million on sales of $1.1 billion, compared to $109 million on sales of $1.2 billion during 2016. Segment operating earnings in the fourth quarter of 2017 were $26 million on sales of $271 million compared to $24 million on sales of $259 million in 2016.
During the fourth quarter, the segment benefitted from mid-single digit volume growth in our global aluminum aerosol business, improved manufacturing performance across our U.S. tinplate packaging business and stronger than anticipated U.S. food can volume demand due to customers carrying more inventory into 2018. Full-year and fourth quarter 2017 results also include the absence of sales and earnings from the Baltimore, Maryland, and Hubbard, Ohio, facilities, which were sold in late 2016 and early 2017, respectively.

Aerospace
Aerospace comparable segment operating earnings for full-year 2017 were $98 million on sales of $991 million, compared to $88 million on sales of $818 million during 2016. Comparable segment operating earnings




 
Ball Corporation · 10 Longs Peak Drive · P.O. Box 5000 · Broomfield, CO 80021 · www.ball.com
Page 3


© 2015 Ball Corporation