US Ball Corporation estimates loss after leaving Russia at over $400 million

WORLD  07 August 2022 - 08:32

The suspension of investments and the plans to sell the business in Russia have resulted in the depreciation of the assets of the US Ball Corporation, one of the leading global producers of aluminum beverage cans.

The company's loss amounted to $435 million, according to the corporation's report for the second quarter of 2022.
"Ball Corporation analysed an expected recoverability of cash flows to estimate the fair value of long-term assets and registered an impairment loss worth $435 million," the document said.

The events in Ukraine and anti-Russian sanctions may result in further depreciation of assets.

According to the data provided by Ball Corporation, about four per cent of all net revenues and eight per cent of all operating profit accounted for the Russian market in 2021.

During this period, enterprises in Russia produced approximately five per cent out of 112.5 billion beverage cans produced by the company worldwide.

Caliber.Az