Due to the exit from the Russian market, the Ball Corporation lost $435 million.
According to the report of the American aluminum packaging manufacturer Ball Corporation for the second quarter of 2022, the decision to suspend investments and sell the Russian business led to a significant depreciation of assets.
“The company has performed an expected recoverability analysis of cash flows to estimate the fair value of long-term assets and recorded a loss of $435 million,” the document says.
The report also notes that the Russian market in 2021 accounted for about four percent of all net revenue and eight percent of all operating profit.
“Our factories in Russia accounted for about five percent of the total volume of issued cans, which amounted to 112.5 billion pieces,” the document says.
Ball Corporation owns three factories in Russia – in the Moscow, Leningrad and Chelyabinsk regions.
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