Crown Holdings aims to lift cash flow through working capital actions

By Devika Patel

Knoxville, Tenn., Oct. 19 – Crown Holdings, Inc.’s management hopes that its gains to cash flow from measures to address working capital will improve.

The company had “significant” gains in that regard but this has slowed and the company hopes that next year will be better.

“We’ve had significant working capital gains to cash flow over the last four years or so,” president and chief executive officer Timothy J. Donahue said on the company’s third quarter earnings conference call on Thursday.

“At some point, there is realization that you’re not going to have as significant contributions

“We’re doing our best. We hope to do better.

“If we do better, we do.

“We’re where we’re at. We believe it’s a very good achievement.

“We hope to do better and we hope to do better next year,” he said.

The company expects better EBITDA in the future.

“From an EBITDA perspective, we will have a lot more EBITDA if for no other reason than the depreciation rolling off all of the new investments we’ve had over the last couple of years,” Donahue said.

Crown is a Philadelphia-based packaging company.

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