Envases Venezolanos S.A.

What it is

Envases Venezolanos, S.A. is the holding company at the top of a group of operating subsidiaries that together make nearly every kind of rigid container used in Venezuelan industry. Its four business lines are tin containers (for canned food, paints, chemicals, and motor oils), aluminium cans (mainly beverages), glass containers (tableware and bottles), and lids.

The company was incorporated on 11 December 1952 to make steel containers for Venezuelan industry, which until then had relied entirely on imports. Production began in November 1953 at a plant in Maracay, with technical assistance from the American Can Company.

Who owns it

The Roosen family controls Envases Venezolanos through longstanding board and executive positions. The company’s shares are listed on the Bolsa de Valores de Caracas.

The exact free-float percentage and the Roosen family’s precise ownership stake are not disclosed in available sources on the public record.

The company has 126,923,808 shares in issue, and at the October 2024 shareholder meeting it declared a cash dividend of Bs. 0.03 per share plus an in-kind dividend paid in units of a private investment fund, at Bs.

0.34863436 per unit.

Who runs it

The shareholder assembly of October 2024 re-elected Gustavo Roosen P. as Chairman (Presidente) and Tomás Roosen P.

as Executive President (Presidente Ejecutivo), with Cecilia González Moleiro serving as Secretary of the board. The two Roosens — father as chairman, son as chief executive — represent the family’s multi-generational grip on the group.

A Chief Financial Officer title is not separately disclosed in the board filing; the company’s financial filings are audited by Mendoza, Delgado, Labrador & Asociados (the Venezuelan member firm of EY), signed off in October 2024.

The money, in plain words

Reading Venezuelan financial statements requires caution: Venezuela is one of the world’s most inflationary economies, so the company reports its numbers restated into constant bolivars under international hyperinflation accounting rules (IAS 29) — meaning the figures represent real purchasing power, not nominal cash. Because Venezuela’s official consumer price index was only published through October 2024, the company had to use an independent expert’s inflation estimates to complete its figures.

On that basis, revenue for the year ended 31 August 2024 was Bs. 824.4 million (~USD 1.30 million at today’s rate) — a steep real-terms fall of about 36% from Bs.

1.29 billion the prior year (our calculation). Gross profit was Bs.

231.6 million, a gross margin of 28.1% (our calculation), but heavy financing costs, foreign-exchange losses, and a monetary correction charge dragged the pre-tax result down to Bs. 51.2 million; after current income tax, net profit was approximately Bs.

36.6 million — a net profit margin of roughly 4.4% (our calculation), thin for an industrial manufacturer.

The company held Bs. 57.4 million in cash and Bs.

262.6 million in tradeable investments on its balance sheet, against no bank debt — suggesting it carries net cash (our calculation from the balance sheet). Total equity attributable to shareholders stood at Bs.

655 million (~USD 1.04 million), giving a return on equity of about 5.6% (our calculation) — modest, but notable for a company operating inside Venezuela‘s still-distorted economy.

What it is doing now

At the October 2024 ordinary shareholder assembly, the board presented its annual accounts for the year ended 31 August 2024, which were approved, and declared a cash dividend totalling Bs. 7.6 million (Bs.

0.06 per share), payable to shareholders of record by 4 November 2024.

The assembly also approved an in-kind dividend of Bs. 114.2 million, paid by delivering units of a private investment fund to shareholders — an unusual structure that likely reflects the difficulty of moving cash freely in Venezuela’s controlled financial system.

The company published a new set of audited financial statements for the year ending 31 August 2025 in October 2025, confirming it remains an active reporting issuer.

What to watch

• Real revenue trend: A 36% constant-currency revenue drop in one year is severe; whether the FY2025 statements (now published) show stabilisation or further contraction is the most urgent question.
• Currency and inflation: Venezuela’s official exchange rate and inflation figures remain incomplete and politically sensitive; the company’s results hinge on the gap between the official rate and real purchasing power.
• Input supply: Tinplate and aluminium are imported; access to foreign exchange for those purchases has historically throttled output — a risk that has not disappeared.
• Dividend-in-kind structure: The use of a private investment fund as the vehicle for paying the bulk of dividends deserves scrutiny from minority shareholders wanting cash returns.
• Workforce: The group employs more than 300 workers — a fraction of the 1,361 on the payroll cited in older records, pointing to a decade-plus of contraction.

This is news, not investment advice.