Financial Data and Key Metrics Changes - In 2025, the company achieved record earnings per share (EPS) of $3.57, a 13% increase from 2024 [11] - Adjusted free cash flow reached $956 million, a 2.4 times increase year-over-year [11] - The company returned over $1.5 billion to shareholders through buybacks and dividends [6][11] Business Line Data and Key Metrics Changes - North and Central America segment comparable operating earnings increased by 12% in Q4 and 3.3% for the full year [13] - EMEA segment comparable operating earnings increased by 36.7% in Q4 and 19% for the full year [16] - South America segment comparable operating earnings increased by 1% in Q4 and 10.5% for the full year [17] Market Data and Key Metrics Changes - Global shift volumes for aluminum packaging increased by 6% in Q4 and 4.1% for the full year [11] - The North American can industry grew about 2%, while the company outperformed with a 4.8% growth [26] - EMEA's growth was above the long-term range of 3%-5%, with expectations to exceed this range due to the acquisition of Benepack facilities [34][60] Company Strategy and Development Direction - The company aims to double down on profitable growth, focusing on operational excellence and customer partnerships [8][22] - The Ball Business System is central to the company's strategy, emphasizing customer engagement and operational standardization [9][10] - The company plans to maintain EVA as its core financial lens, aligning capital spending with growth and shareholder returns [22] Management's Comments on Operating Environment and Future Outlook - The management expressed confidence in achieving 10%+ comparable diluted EPS growth in 2026 [12][19] - The company anticipates some direct tariff costs in 2026, estimated at approximately $35 million, as it works to domesticate some production [15] - The management highlighted the importance of customer relationships and the ongoing shift towards aluminum packaging as key growth drivers [9][70] Other Important Information - The company completed the acquisition of two Benepack beverage can facilities, enhancing its European footprint [11][34] - The net debt to EBITDA ratio ended the year at 2.8 times, with a goal to reduce it to 2.5 times in the coming years [18] Q&A Session Summary Question: Volume growth in North and Central America segment - The company reported a 4.8% volume growth in 2025, outperforming the can industry growth of about 2% due to strong customer partnerships and innovation [26][28] Question: Outlook for 2026 volume growth - For 2026, the company expects volume growth at the low end of its long-term range of 1%-3% until new capacity in Millersburg is operational [28] Question: Details on the Benepack acquisition - The Benepack acquisition is expected to enhance the company's European manufacturing network and support long-term volume growth [34][60] Question: Emphasis on doubling down on profitable growth - The management emphasized the need to focus on operational excellence and customer engagement to achieve the long-term growth algorithm of 10%+ EPS [45][62] Question: Impact of tariffs and aluminum prices - The company is managing tariff impacts through pass-through mechanisms and is monitoring aluminum price trends, which have not significantly affected consumer demand [68][70] Question: Operating leverage in Europe - The company achieved high operating leverage in Europe due to capacity utilization and expects to maintain this in 2026 [60] Question: Changes in customer relationships post-management changes - The management has engaged extensively with major customers and is focused on strengthening long-term strategic partnerships [74] Question: Progress on cost savings from the Ball Business System - The company is on track to deliver $500 million in cost savings ahead of schedule, with significant progress already made [76][78]

工会批评称， "EVA 标准简直就是 ' 盲目的绩效奖金制度 ' ，员工根本无法理解其计算方式 " ， 并表示 " 公司虽然成立了奖金制度改进工作组，并召开了多次会议，但至今未有任何进展或成果 " 。工会还表示， " 在 EVA 制度下，即使营业利润很高，但如果没有达到特定目标，奖金也可能降 为零，而且奖金上限也存在 " ，并表示 " 三星电子员工的士气和对公司的信任度已经跌至谷底。 我们要求公司至少做出一些改变的努力 " 。 如果您希望可以时常见面，欢迎标星收藏哦~ 来 源 ：内容 编译自 businesskorea 。 由三星五家子公司工会组成的三星集团多公司工会向三星电子董事长李在镕致信，要求改进绩效奖 金制度。 据业界 2 日透露，工会向李健熙会长、三星电子设备解决方案（ DS ）本部长全永铉（副会长）、 设备体验（ DX ）本部长卢泰文（社长）递交了题为《过时的绩效奖金制度和一成不变的公司》的 信函。 工会在信中表示： "SK 海力士最近通过劳资协议敲定了 ' 基于营业利润的 10% 绩效奖金 '" ， 并补充道： " 相比之下，三星电子的绩效奖金制度仍然沿用不透明的 EVA （经济增加值）方法。 ...