CANPACK Group Reports Q3 2025 Results
Business Update | November 25, 2025
Wayne, Pennsylvania November 25, 2025 – CANPACK Group, Inc. (“CANPACK, the “Company” or the “Group”), a global manufacturer of aluminum beverage cans and packaging solutions for the beverage and food industries, is hereby providing, on a U.S. GAAP basis, with U.S. dollars (defined as “$”) as the reporting currency, its results for the three and nine months ended September 30, 2025 (“Q3 2025”) and its trading update for Q3 and 9M 2025.
- Net Sales1 increased by 9% for the three and nine months ended September 30, 2025, as compared to the corresponding periods in 2024. This positive performance was driven by contractual pass through of higher aluminum LME and Premium as well as beverage can body volumes increase combined with the positive impact of contract assets recognition.
- Adjusted EBITDA1 decreased to $151 million and $433 million for the three and nine months ended September 30, 2025, as compared to $160 million and $469 million in the corresponding periods in 2024 primarily driven by higher labor and aluminum conversion costs, incremental logistics expenses to support India’s growth and lower selling prices related to contractual inflation adjustments partially offset by higher beverage can body volumes and contract assets recognition.
- Capital expenditures[1] increased to $47 million and $155 million for the three and nine months ended September 30, 2025, as compared to $38 million and $97 million in the corresponding periods in 2024, primarily driven by higher spending for our capacity expansion projects as well as increased planned maintenance CapEx.
Chief Executive Officer, Marius Croitoru, Commented:
In Q3 2025, CANPACK showed resilience in a dynamic market. We achieved strong growth in the U.S. and India, while in Europe we continued to operate at full capacity reinforcing the strength of our global footprint. Our teams remain focused on delivering for customers and driving operational excellence. As we already communicated we will continue investing in strategic markets such as Europe, India, Brazil and Colombia, while keeping efficiency and sustainability at the core of our approach. I would like to thank our employees for their hard work and commitment as we shape CANPACK’s future together.
About CANPACK Group
CANPACK Group, Inc., part of Giorgi Global Holdings, Inc., is a global manufacturer of aluminum beverage cans, metal closures and glass and steel packaging solutions for the food and beverage industries. CANPACK employs approximately 8,500 people worldwide and has operations in 16 countries. For more information, visit www.canpack.com.
Conference Call Details
CANPACK Group will announce its Q3 2025 results on Tuesday, November 25, 2025. The company will host a conference call at 14:00 BST / 15:00 CEST / 09:00 EDT to discuss its financial results with the investment community. Investors and analysts wishing to attend this event can request for registration via email at IR@canpack.com or click on the following link.
More detailed financial information can be found on the Company’s IR website at the Financial Results and Bondholder Downloads section (click here to gain access).
Forward-Looking Statements Disclaimer
Forward-looking statements can be identified by the use of forward-looking terminology, including the terms “anticipate,” “assume,” “expect,” “suggests,” “plan,” “believe,” “intend,” “estimates,” “targets,” “projects,” “forecasts,” “should,” “could,” “would,” “may,” “will” and other similar expressions or, in each case, their negative or other variations or comparable terminology.
All statements other than statements of historical facts included in this document (or in other documents or statements reporting our financial performance), including, without limitation, statements regarding our future financial position, risks and uncertainties related to our business, strategy, capital expenditures, projected costs and our plans and objectives for future operations, may be deemed to be forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties.
We caution you that forward-looking statements are not guarantees of future performance and that our actual results of operations, financial condition and liquidity, and the development of the industry in which we operate, may differ materially from those made in or suggested by the forward-looking statements contained in this document (or in other documents or statements reporting our financial performance). In addition, even if our results of operations, financial condition and liquidity, and the development of the industry in which we operate are consistent with such forward-looking statements, those results or developments may not be indicative of results or developments in subsequent periods.
Any forward-looking statement that we make in this document (or in other documents or statements reporting our financial performance) speaks only as of the date on which it is made, and we do not intend to update such statements. Comparisons of results for current and any prior periods are not intended to express any future trends or indications of future performance, unless expressed as such, and should only be viewed as historical data. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future and may not be within our control.
Moreover, the Company operates in a very competitive and rapidly changing environment. New risk factors emerge from time to time, and it is not possible for us to predict all such risk factors, nor can we assess the impact of all such risk factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements as a prediction of actual results.
Non-GAAP Measures
The above press release contains certain financial measures and ratios, including adjusted EBITDA, free cash flow, net leverage, changes in working capital, beverage can body volumes and capital expenditures, that are not required by, or presented in accordance with, U.S. GAAP (the “Non-GAAP Measures”).
We present these Non-GAAP Measures because they are measures that our management uses to assess operating performance and liquidity, and we believe that they and similar measures are widely used in our industry as supplemental measures of performance and liquidity. These measures may not be comparable to other similarly titled measures of other companies and are not measurements under U.S. GAAP or other generally accepted accounting principles.
Non-GAAP Measures and ratios are not measurements of our performance or liquidity under U.S. GAAP and should not be considered as alternatives to net income or any other performance measures derived in accordance with U.S. GAAP or as alternatives to cash flow from operating, investing or financing activities.
Contacts:
CANPACK IR team
Erin Krzeminski
Group Treasurer & Investor Relations Director
Marta Kopcik
Group Communications Manager
Email: IR@canpack.com
CANPACK IR Advisor
Daisy Padovan – H/Advisors Maitland
Phone: +44 (0) 207 379 5151
Email: canpack@maitland.co.uk
1 Presented on comparable basis from continuing business, excluding results of Poland Glass Business sold on April 2nd, 2024.