CANPACK’s beverage can bodies volumes increased 21% in Q1 2021

CANPACK, a global manufacturer of aluminium beverage cans and packaging solutions for the beverage and food industry, announced its results for the first quarter of 2021. Beverage can bodies volumes grew 21% year-over-year.

The growth was due to increased production volumes from its new Czech Republic facility, capacity expansion in Colombia, increased demand from the U.S. customer base and higher demand in Europe and South America.

Net sales increased 21% year-over-year to $664 million on higher LME levels in Q1 2021, partially offset mainly by a lower impact from the currency exchange rate differences.

Cost of sales grew 24% year-over-year due to increased beverage can volumes and a negative impact from aluminium price.

The company’s adjusted EBITDA increased to $127 million in Q1 2021 compared to $113 million in Q1 2020, an increase of 12%, driven by higher beverage can volumes.

hief Executive Officer, Roberto Villaquirán, Commented: “We are delighted to deliver a strong performance across our businesses. This was supported mainly by our continued market leading growth coupled by strict cost control and operational efficiency gains. With sustainability and innovation at the core of our strategy and differentiation, CANPACK is proud to be a leader in creating what we believe is the perfect platform and enabler for FMCG and brand owners to excel.”