Earnings Webcast and Conference Call Details. The contribution from volume mix was more than offset by an expected fixed cost absorption drag and unfavorable input cost recovery relative to some over recovery in the prior year period. Our philosophy of continuous improvement extends to a superior level of on-site services to our customers worldwide. Metal's unique and proven product protection qualities are outstanding. The call can be accessed by dialing +1 (833) 470-1428 (domestic toll-free number) or +1 (404) 975-4839 (international) and providing the access code: 403501. I mean that category, though, overall, I think, is beginning to move. But I think we still think there are other categories and other customers where there's a bit more strength that we don't play in, particularly on the energy drink side. In light of our resilient start to the year, we are reaffirming our full year guidance. Ardagh Group provides a wide range of beverage cans in many shapes and sizes to some of the most recognizable brands in the world, serving such beverage categories as sparkling water, soft drinks, beer, wine, flavored malt beverages, energy drinks and teas. To date, Alec Gores and affiliates of The Gores Group have announced and completed six business combinations representing over $27 billion in transaction value. Shipments for the quarter grew by 2% on the prior year. You can update your preferences by clicking the "Cookie Policy" link at the bottom of any page on our website. Founded in 1987 by Alec Gores, The Gores Group is a global investment firm focused on partnering with differentiated businesses that can benefit from the firm's extensive industry knowledge and decades long experience. And yes, back to my previous comments, what I think you're seeing in Europe is a lot of volatility in demand across different players because they're operating in different parts of the market. The non-IFRS financial measures used by Ardagh Metal Packaging S.A. may differ from, and not be comparable to, similarly titled measures used by other companies. You may obtain free copies of these documents as described in the preceding paragraph. But as I say, all of those activities were completed last year. Ardagh Group is a global supplier of sustainable, infinitely recyclable, metal and glass packaging for brand owners around the world. In 2020, we launched our new sustainability strategy to reinforce our commitment to the circular economy. We are fully hedged for the current year and have significantly progressed our energy purchases for future years as prices have fallen. Sleek to 24 oz., offering a wide variety of options to ideally represent customer brands. And then the second fundamental is that inflation is moderating. Please. That will conclude today's conference call. You can update your preferences by clicking the "Cookie Policy" link at the bottom of any page on our website. North America grew by 5%, and more than offset marginally . Looking at AMP's results by segment and at constant exchange rates. Thank you, guys. The business has grown significantly since our acquisition of the metal beverage packaging business in 2016 and we have a clear roadmap that we believe will lead us to more than double Adjusted EBITDA by 2024, as we invest in support of our customers growth. There are many reasons to choose Ardagh and beverage cans. We'll now move to Arun Viswanathan from RBC. Our European business takes a step up from here because we lose the drag from the accounting treatment on some of the inflation pass-through. And that explains the entirety of the bridge. Learn how it impacts everything we do, https://www.ardaghmetalpackaging.com/investors, https://www.prnewswire.com/news-releases/ardagh-metal-packaging-sa--first-quarter-2023-results-301809466.html. So I think when you add it all together, it makes all sorts of sense that you'd see some increased promotional activity as we go through the year. And you mentioned earlier that kind of the marginal or kind of spot can out there, there has been some pricing pressure. Revenue of $1,131 million in the three months ended March 31, 2023 decreased by $6 million, or 1%, compared with $1,137 million in the same period last year. Adjusted EBITDA for the quarter was $81m, decreasing by 9% compared to $89m in the same period last year, primarily driven by input cost headwinds and higher operating costs, partly offset by favourable volume/mix effects. Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. You should carefully consider the foregoing factors and the other risks and uncertainties that will be described in the Definitive Proxy Statement, including those under Risk Factors therein, and other documents filed by Gores Holdings V, Ardagh or AMP from time to time with the SEC. So look, I think it's unchanged from the full year. And I think one of your peers talked about potential buying patterns in Europe where customers are maybe delaying a little bit of buying, maybe until we get a little bit closer into the summer season. And as David just mentioned, we've got a very tough comparator coming in Q2 where post COVID, the market opened up very fast and very strong. Metal is a permanent material, meaning it can be infinitely recycled without any loss of quality. So what we see is a lot of variation between customers depending on their pricing strategies. No, I wouldn't say that. See jobs Follow View all 6,018 employees Overview Jobs Life About us We are. Thanks, David. And so you get the shift into one-way packaging. We are committed to investing in a future for all and we work hard to uphold our promises. As a permanent material glass is 100% and infinitely recyclable, making it the perfect packaging choice for products today and in the future. We're not letting any of the bank on it, but we're still excited about the still water category. ARDAGH METAL BEVERAGE USA INC. Cargegie, Pennsylvania 11 followers Follow View all 14 employees About us Headquarters Cargegie, Pennsylvania Founded 2016 Locations 600 N BELL AVE Cargegie,. Ardagh is pleased to announce that its acquisition of Consol Holdings Proprietary Limited, the leading producer of glass packaging on the African continent, has completed. So those are a set of one-offs that will unwind during this year. And then also similarly in Europe and Brazil, how did you characterize the supply and demand? So we have some payments this year. The quick one is just of the curtailment you guys have talked about for this year, the 1 billion in Europe and 2 billion cans in North America, have you started that yet? Revenue of $486 million decreased by 3% in the three months ended March 31, 2023, compared with $499 million in the same period last year. On a constant currency basis, Adjusted EBITDA decreased by 8%, principally due to negative volume/mix effects (including the seasonal rebalancing of the contract asset margin)and higher operating costs, partly offset by the pass through to customers of higher input costs. Luxembourg B160804, Modern Slavery Statement 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. We sell different types of products and services to both investment professionals and individual investors. Ardagh operates 56 metal and glass production facilities in 12 countries, employing more than 16,000 people with sales of approximately $7 billion. We think you can track off-trade penetration in cans and that, that will return to its growth pattern like it has for every other developing market over the years. Making new glass bottles and jars from recycled glass reduces the amount of energy needed in the production process and lowers emissions into the atmosphere. And as you put those numbers together with some EBITDA growth, that's why you can see we're very confident in the sustainability of the dividend. Thank you. Thank you. AMP's earnings release and related materials for the first quarter can be found on AMP's website at www.ardaghmetalpackaging.com. And what's the update on progress if those initiatives have been part of your strategy? This release contains "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. You have billboard. At March 31, 2023, the Group's net debt and available liquidity was as follows: Senior Secured Green and Senior Green Notes, Cash, cash equivalents and restricted cash, Derivative financial instruments used to hedge foreign currency and interest rate risk, Reconciliation of (loss)/profit for the period to Adjusted profit, (Loss)/profit for the period as presented in the income statement, (Loss)/profit for the period used in calculating earnings per share, Weighted average number of ordinary shares, Reconciliation of (loss)/profit for the period to Adjusted EBITDA, Reconciliation of Adjusted EBITDA to Adjusted operating cash flow and Adjusted free cash flow, Adjusted free cash flow - pre Growth Investment capital expenditure, Adjusted free cash flow - post Growth Investment capital expenditure. And our dedicated Research & Development team consistently works with customers to create innovations across shapes, label and tab designs, colors and functionality that enable brands to attract attention on store shelves. The second question I had shorter term, payables look like they were down from fourth quarter, and you also mentioned a little bit more use of working capital to start the year. More. We will have an over recovery this year and that gets us probably 75%, 80% back to 2021 margin levels in Europe, and we're hoping to regain the rest into '24. Ardagh Group S.A., 56, rue Charles Martel, L-2134 Luxembourg.R.C.S. Forward-looking statements are not historical facts and are inherently subject to known and unknown risks and uncertainties, many of which may be beyond our control. Ardagh Group is aglobal supplier of sustainable, value added, infinitely recyclable, metal and glass packaging for brand owners around the world. There's been a lot of inflation there over the last couple of years. The market recorded a high single-digit growth rate against a weak 2022 comparator and was softer than anticipated as adverse weather and more challenging macroeconomic backdrop pressured consumption. Fullyarn Packaging USA Inc. Packaging Materials. The future were creating for Ardagh is built around our three core values of Trust, Teamwork and Excellence. Thanks, George. 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. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data. Yes. They're very elastic categories, and demand does expand with promotional and with price. And if you look into the can side that are selling well at the moment, we don't see room for lots of movement there. We ended the quarter with a liquidity position of approximately $0.5 billion. This press release is not a solicitation of a proxy from any investor or securityholder. By downloading this case study, you acknowledge that GlobalData may share your information with VMS Engage Buyers Guide and that your personal data will be used as described in their Privacy Policy. Cash outflow in the period beat our expectation but reflected the usual seasonality in working capital with a working capital outflow in the quarter of $346 million. You have accelerated improvement in PPI recapture or mechanisms yet were down year-on-year in EBITDA 2Q versus 2Q last year. The point I'd make is the market is putting a very high return on that. Yes. Murray Group It appears that a couple of years ago when the market was really tight, pricing was achievable. Aluminum can manufacturing means that our products are infinitely recyclable, serving as a model for environmental excellence and a circular economy. On a constant currency basis, revenue increased by 3%, primarily 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). Read our editorial policy to learn more about our process. Ardagh Metal Packaging operates 24 production facilities in nine. Therefore, you are cautioned not to place undue reliance on these forward-looking statements. Is there ability for some shift there? Aluminum beverage packaging offers versatility and unlimited design opportunities, is unbreakable, is impermeable and its tamper-proof qualities deliver true package safety. As that moves to the U.S., are you going to get that business, do you need to make any investments for it? So if you agree with that premise, and the numbers are the numbers. The people that make up Ardagh share much more than a strong brand and an excellent reputation. Unaudited Consolidated Condensed Statement of Cash Flows, Settlement of foreign currency derivative financial instruments, Cash flows (used in)/received from financing activities, Net decrease in cash, cash equivalents and restricted cash, Cash, cash equivalents and restricted cash at beginning of period, Foreign exchange gains/(losses) on cash, cash equivalents and restricted cash, Cash, cash equivalents and restricted cash at end of period. But just with that additional availability, clearly, some of that is coming on to the market. So let's go region by region. So it's got no meaningful impact really on our capacity position. Ardagh Metal Packaging is the third-largest producer of aluminum beverage cans in the world. Typically, companies focused on the economy segment. I'd say you put those 3 components together, you're at or very close to covering the dividend mix. Got it. Adjusted EBITDA decreased by $15 million, or 10%, to $130 million in the three months ended March 31, 2023, compared with $145 million in the same period last year. We were awarded a first-time leadership A rating from CDP on supplier engagement, which followed the first time A- rating for water management and a B rating for climate change disclosed in our last update. And so that's a tough comparator for us. About Ardagh Metal Packaging Ardagh Metal Packaging (AMP) is a leading global supplier of infinitely recyclable, sustainable, metal beverage cans and ends to brand owners. So look, overall, it is soft. Performance was, however, ahead of expectations, reflecting our overall strong input cost recovery. (568ml) aluminum beverage can offering enables. 1286/2014 (as amended, the PRIIPs Regulation) for offering or selling the AMPSA Shares or otherwise making them available to retail investors in the EEA or in the UK will be prepared and therefore offering or selling the AMPSA Shares or otherwise making them available to any retail investor in the EEA or in the UK may be unlawful under the PRIIPs Regulation. The second element is, we've not built out all the investment in the original program, so particularly the Brazil greenfield. And we're not giving exact numbers on any of this, but it means that it won't be '24, and it won't be at that level. AMP operates 24 metal beverage can production facilities in nine countries, employing more than 6,300 people with sales of approximately $4.7bn. And then in Brazil, our customers are not telling us very much because I think they're very short one way. What makes you confident your potential to realize this $300 million CapEx by year-end? I think if I recall correctly, your last quarter, your thought process was maybe industry does mid-single digit, and Ardagh, maybe is closer to low single digits. North America grew by 5%, and more than offset marginally softer shipments in Brazil. And so the cans took all the growth as the returnables declined. Director of Forming Operations - Food & Spirits. Actual results could vary materially from such statements. Please go ahead. Is this happening to you frequently? Whatever your customers told you specifically in terms of why you think promotional activity is going to pick up, particularly in non-alc, over the rest of the year? And that linked to their overall market weakness. Contents are protected from air and light, with their distinct flavors preserved, Cans offer 360-degree branding opportunities. Ardagh has reaffirmed its full-year guidance, with shipment growth of mid to high single digits. AMP's state-of-the-art can manufacturing facility will occupy about 40,000m (430,556ft). Before making any voting or other investment decision, investors and security holders of Gores Holdings V are urged to read the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed Business Combination as they become available because they will contain important information about Gores Holdings V, AMP and the proposed Business Combination. So I think that there's no reason to believe, although our customers are clearly using more advanced analytics to target promotions and I clearly will have learned something from the last 12 months. Or are we operating at a high level? About Ardagh Metal Packaging Ardagh Metal Packaging (AMP) is a leading global supplier of infinitely recyclable, sustainable, metal beverage cans and ends to brand owners. 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. Please go ahead. Develop and improve features of our offerings. currency basis versus the prior year quarter. Ardagh Group is a global supplier of infinitely recyclable metal and glass packaging for the world's leading brands. We suspect that energy drinks is also a bit stronger, though, again, we don't have the big share of that market, we have good share, but not the big share. And good luck on the rest of the year. We have completed our planned capacity additions in North America with the third line in Huron, Ohio now ramping up along with the other 2 lines added in the final quarter of last year. And again, sort of, I don't know, maybe 6 to 12-month lag, maybe it's 12 months entirely. 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. So the quick answer to the quick question was, yes. Okay. As previously indicated, our revised growth investment plans are well advanced, and cash outflows comprised the finishing of projects already underway. You can see some EBITDA growth into next year and then the BGI drop. Ardagh Metal Packaging S.A., 56, rue Charles Martel, L-2134 Luxembourg, LuxembourgR.C.S. Please use the following webcast link to register for this call: https://event.webcasts.com/starthere.jsp?ei=1606643&tp_key=ceef72e355, United States/Canada: +1 800 239 9838International: +44 330 165 4027Participant pin code: 6230856, An investor earnings presentation to accompany this release is available at https://www.ardaghmetalpackaging.com/investors. So before moving to take your questions, I'd just like to recap on AMP's performance and key messages. And we can see and the beginnings of that coming across into the sports drink space. Our actions taken on cost recovery and our well-advanced investment program will drive adjusted EBITDA growth and significantly improve adjusted free cash flow generation in 2023 and beyond. Ardagh Metal Packaging (NYSE: AMBP ), is a leading global supplier of infinitely recyclable, sustainable, metal beverage cans and ends to brand owners. Contact Customer Service at: +1-800-323-3401, Ardagh Metal Packaging S.A., 56, rue Charles Martel, L-2134 Luxembourg, LuxembourgR.C.S. Please go ahead. Some of the pricing actions that are being taken that are very different across our customer base. The future were creating for AMP is built around our three core values of Trust, Teamwork and Excellence. You mentioned increasing promotional activity in non-alcoholic. So that's typically what we're looking at there. It is part of the company's multi-billion dollar investment programme to build new, recyclable, metal packaging capacity across Europe, North America and Brazil. Hi, Arun. I will now turn the call over to Oliver Graham. And then just last one here on CapEx. And so their main problem at the moment is to try and to get that from a position where there is almost no one way. Global beverage can shipments grew by 3% in the quarter, driven by growth of 4% in Americas and 2% in Europe. Adjusted EBITDA of $130 million was down 8% on the prior year on a constant currency basis. Ardagh Group is a leading global supplier of value-added, infinitely-recyclable, metal and glass packaging solutions. Global beverage can shipments grew by 3% in the quarter, driven by growth of 4% in Americas and 2% in Europe. So that big step-down is what then allows us to grow, as we say, investment-free into our capacity. [Operator Instructions]. Non-IFRS financial measures may be considered in addition to IFRS financial information, but should not be used as substitutes for the corresponding IFRS measures. Most recently worked as the Quality Manager for Ardagh Metal Beverage, in Chicago, IL. And then in terms of why we're confident in timing through the rest of the year, I think that we've had signals from customers that they're looking into additional promotions for Q2 and beyond. So there's some good space for additional innovation still to come. So look, I mean, our investment profile is front-loaded in terms of, as we said in the opening remarks, we are finishing off projects largely that have been crystallized, started last year and under flowing through. Ardagh Metal Beverage USA Inc. Attorney/Law Firm Details Plaintiff Attorneys Mehrdad Bokhour Attorney at Bokhour Law Group, P.C. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. We will achieve our vision by delivering customer innovation, providing an inspirational environment for our people and creating sustainable value for our business through growth and development. Ardagh is a global supplier of sustainable, infinitely recyclable metal beverage cans to brand owners. And just so on that note then, does your European business take a step down from here? United States of America (USA) Packaging Market Size, Analysing Key Pack Material (Pack Type, Clo Henkel and UPM Specialty Papers create heat-sealable packaging, Constellation pledges improvements in circularity of alcohol packaging. And just one last one. There have been some times, we have off trends, but generally, that's been the trend.
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