So look, I think it's unchanged from the full year. Through PLTW, we plan to deliver positive results for more than 2,000 schools and 500,000 PreK-12 students in our local communities. You mentioned increasing promotional activity in non-alcoholic. Adjusted EBITDA of $130 million was down 8% on the prior year on a constant currency basis. More. As part of our strategy, we have mapped out ambitious commitments and targets for the next decade. But even within beer, we have some very high performers. We also had softness with the beer customer. Ardagh Metal Packaging (AMP) is a leading global supplier of infinitely recyclable, sustainable, metal beverage cans and ends to brand owners. We're not disagreeing with that. Yes. Our resilient start to the year allows us to reaffirm our full year guidance. Is it fair to assume now that given what you're seeing, maybe there's a little bit of optimism that Ardagh can also kind of start to approach into the mid-single digits? By clicking Accept all cookies, you agree to the storing of cookies on your device and to the associated processing of personal data to enhance site navigation, analyse site usage, and assist in our marketing and performance efforts. Our metal cans are available in a range of sizes from 8 oz. The people that make up Ardagh share much more than a strong brand and an excellent reputation. (568ml) aluminum beverage can offering enables. But at the minute, we don't see that significantly impacting on us again for the next year or two because of our overall position on contracts. Additional Information about the Business Combination and Where to Find It. So mix is important, and it can vary quite a bit month-to-month. Metal offers versatility, unlimiteddesign and brand building opportunities like no other material and is used across the world in many market sectors. So in the $300 million, it will drop by a lot. How we use your information depends on the product and service that you use and your relationship with us. AMP's earnings release and related materials for the first quarter can be found on AMP's website at www.ardaghmetalpackaging.com. Some of your peers have commented on restructuring the contracts to recover some of that through pricing. If we turn to North America, there's clearly strength in the soft drink side, CSD and especially the energy space, which is very hot, still a lot of innovation in that space, exciting new companies. 1. Strengths across package variety, the environment and customer business. Anthony. Pat Walsh 1. On a constant currency basis, revenue increased by 3%, principally due to the pass through of higher input costs, partly offset by negative volume/mix effects (including the seasonal rebalancing of the contract asset margin). The point I'd make is the market is putting a very high return on that. Okay. Our investments in Huron, Ohio, Winston-Salem in North Carolina and Olive Branch, Mississippi position us favorably for future growth. Ardagh Group also holds a 42% interest in Trivium Packaging, a leading supplier of sustainable metal packaging Could you talk a little bit about maybe the buying patterns, the destocking trends that you've seen? I referred to it in the remarks, but there's some drag in Q1 from the timing of the recognition of those PPI mechanisms into EBITDA, and that drag has gone after Q1. Regular quarterly ordinary dividend of 10c announced, in line with guidance for an annual dividend of 40c per share. Turning our attention to AMP's first quarter results. Certain factors that could cause actual events to differ materially from those discussed in any forward-looking statements include the risk factors described in Ardagh Metal Packaging S.A.'s Annual Report on Form 20-F for the year ended December 31, 2022 filed with the U.S. Securities and Exchange Commission (the "SEC") and any other public filings made by Ardagh Metal Packaging S.A. with the SEC. So energy costs have risen very significantly as a proportion of household income. Ardagh operates 56 metal and glass production facilities in 12 countries, employing more than 16,000 people with sales of $7 billion. Luxembourg B160804, Modern Slavery Statement We are delighted to partner with Gores Holdings V to create a NYSE-listed pure-play beverage can business of scale with impeccable ESG credentials, and we intend to remain a committed, long-term majority shareholder of AMP as it continues its growth journey., Over the past five years, our metal packaging business has grown its position as one of the worlds leading beverage can producers through our agility and foresight in tapping into emerging consumer and market trends, said Oliver Graham, CEO of AMP. I'm joined today by Oliver Graham, AMP's Chief Executive Officer; and David Bourne, AMP's Chief Financial Officer. The document includes detailed information on the manufacturers and suppliers and their products, along with contact details, to inform your purchasing decision. Sleek to 24 oz., offering a wide variety of options to ideally represent customer brands. 2023 outlook reaffirmed: shipment growth of mid to high single digits and full year 2023 Adjusted EBITDA growth of the order of 10%, weighted towards the second half of the year. As mentioned, our great investment plan is well advanced, which strongly supports earnings and cash flow growth, lowering net leverage back to 2022 levels by the end of the year and with a meaningful reduction anticipated in 2024. Or are we operating at a high level? The future were creating for AMP is built around our three core values of Trust, Teamwork and Excellence. The Company has an entrepreneurial owner-manager culture that has led to a successful transformation underpinned by powerful industry dynamics. AMP will hold Ardaghs metal packaging business, which is a leading supplier of beverage cans globally, with a particular focus on The Americas and Europe. Global demand remains restrained by sustained retail price inflation, but we are encouraged by the early signs of a pickup in promotional activity in North America, especially in non-alcoholic beverages and a broader moderating outlook for consumer pricing supported by an easing of input cost inflation. With that being said, within Brazil, what are your customers telling you in terms of their intention two years, three years from now in terms of can in one way versus glass in one way? From 24/7 support and production line maintenance, to on-going quality performance analysis and efficiency improvements, we work directly with customers to ensure our packaging performs above and beyond expectations. Again, I guess the one thing we need to be mindful of is, obviously, to the extent you guys have hedged energy for this year, that may not necessarily be the case on a go-forward basis. Beverage Cans, Metal: Except Beer (1) Can Lids and Ends, Metal (2) Can Manufacturers (24) . So you will see a first half weighting to our business growth investment, then starts to tail off as we get towards the back end of the year. North America grew by 5%, and more than offset marginally softer shipments in Brazil. Website. On a constant currency basis, revenue increased by 2%, mainly reflecting favorable volume/mix effects and the pass through to customers of higher input costs. Ardagh operates 65 metal and glass production facilities in A subsidiary of sustainable packaging business Ardagh Group, AMP is a leading industry player across Europe and the Americas with innovative production capabilities. Together with the cash held in Gores Holdings Vs trust account, additional investors have committed to participate in the proposed business combination by purchasing 60 million shares of AMP for an aggregate purchase price of $600 million in a private placement (the PIPE) at $10.00 per share. Categorized under Can Manufacturers. By clicking Accept all cookies, you agree to the storing of cookies on your device and to the associated processing of personal data to enhance site navigation, analyse site usage, and assist in our marketing and performance efforts. Bei der Nutzung unserer Websites und Apps verwenden wir, unsere Websites und Apps fr Sie bereitzustellen, Nutzer zu authentifizieren, Sicherheitsmanahmen anzuwenden und Spam und Missbrauch zu verhindern, und, Ihre Nutzung unserer Websites und Apps zu messen, personalisierte Werbung und Inhalte auf der Grundlage von Interessenprofilen anzuzeigen, die Effektivitt von personalisierten Anzeigen und Inhalten zu messen, sowie, unsere Produkte und Dienstleistungen zu entwickeln und zu verbessern. Revenue in the Americas in the first quarter . So as I say, we definitely have some strength in beer, but we also have some weakness at the higher end. Ardagh Group S.A., 56, rue Charles Martel, L-2134 Luxembourg.R.C.S. Please go ahead. This, in turn, supports our dividend policy and balance sheet deleveraging. Thank you for your participation. Oliver, the full year guidance, I think, implies a pretty strong second half earnings inflection, and I'm just wondering if you can speak to that. Maintaining independence and editorial freedom is essential to our mission of empowering investor success. Ardagh Group is a global supplier of infinitely recyclable metal and glass packaging for the world's leading brands. We see as we drop off the capital expenditure into the back half of this year and into next year that, that it fits very well with our proposition. ARDAGH METAL BEVERAGE USA INCORPORATED EPA Registry Id: 110001360214 4001 MONTDALE PARK DRIVE VALPARAISO, IN 46383-0607 Query executed on: APR-14-2023 Additional information for CERCLIS or TRI sites: This information resource is not maintained, managed, or owned by the Environmental Protection Agency (EPA) or the Envirofacts Support Team. We will show continued discipline with our capacity planning in the interim. There's been a lot of inflation there over the last couple of years. There's no reason to believe we don't revert to a more normal promotional activity for these categories. So if that's the case, how much lower can your CapEx go? I think that the existing players in the market is probably around flat. Thanks, Stephen. We are committed to conducting our activities with the highest standards of integrity and business practice in dealing with all of our stakeholders. We see the growth coming much more in the second half when the LME hedges roll off some of the other input cost inflation moderates, and we'll see the big customers going back into retail away from returnables and discounting much more. Global demand remains restrained by retail price inflation, but we are encouraged by signs of a return of promotional activity, and the easing of customer inflationary pressures. LUXEMBOURG, April 27, 2023 /PRNewswire/ -- Ardagh Metal Packaging S.A. (NYSE: AMBP) today announced results for the first quarter ended March 31, 2023. The contribution from higher volumes and stronger input cost recovery was offset by the under absorption of higher operating costs and the expected impact relating to the timing of recognition of inflation recovery in EBITDA. The future were creating for Ardagh is built around our three core values of Trust, Teamwork and Excellence. Metal packaging is universally recognised for its protective qualities, versatility and environmental credentials. We are forecasting volumes to grow at a high single-digit percentage in 2023 in Brazil, which is underpinned by the recent start-up of new capacity in Alagoinhas, customer mix and the market recovery strengthening into the second half of the year supported by an easing of customers' input cost pressures.
Pop Smoke Nickname,
Panama City Beach Pier Fishing Report,
Ashland County News,
Ac Valhalla Halfdan Knows Halfdan Does Not Know,
Articles A
