ardagh metal beverage

We have today announced our quarterly ordinary dividend of $0.10 per share to be paid later in June, in line with our guidance and supported by our improving cash generation outlook. Cash outflow in the period which reflects seasonality and a first half weighting of unchanged planned growth capex was marginally ahead of expectations. By Mohamed Dabo. So I think we're well placed for the growth that's about to come. So how are you thinking about achieving maybe the '21, sorry, the '24 numbers around $1.1 billion of EBITDA? LUXEMBOURG & LOS ANGELES--(BUSINESS WIRE)--Ardagh Group S.A. (Ardagh) (NYSE: ARD), a global supplier of infinitely-recyclable metal beverage and glass packaging for the worlds leading brands, and Gores Holdings V, Inc. (Gores Holdings V) (NASDAQ: GRSV, GRSVU and GRSVW), a special purpose acquisition company sponsored by an affiliate of The Gores Group, today announced that they have entered into a definitive business combination agreement under which Gores Holdings V will combine with Ardaghs metal packaging business that will be held by Ardagh Metal Packaging S.A. (the Company, Ardagh Metal Packaging or AMP) to create an independent public company. 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. Yes. Categorized under Can Manufacturers. We believe a partnership approach is essential in the development of both product and process innovation. Thank you for joining today for Ardagh Metal Packaging's first quarter 2023 earnings call, which follows the earlier publication of AMP's Earnings Release for the first quarter. So it's got no meaningful impact really on our capacity position. And then South America, it did grow the market, high single digits, but against a very weak comparator of Q1 '22. A subsidiary of sustainable packaging business Ardagh Group, AMP is a leading industry player across Europe and the Americas with innovative production capabilities. And so our growth has definitely come when we're talking about normal periods, 1%, 2%, 3%, before we had the big sustainability tailwind, a proportion of that was glass substitution, but often also two-way. The decrease in Adjusted EBITDA was principally due to negative volume/mix effects (including the seasonal rebalancing of the contract asset margin), partly offset by the pass through to customers of higher input costs. Under no circumstances should the inclusion of such forward-looking statements in this release be regarded as a representation or warranty by us or any other person with respect to the achievement of results set out in such statements or that the underlying assumptions used will in fact be the case. There clearly is now action there, new brands, new activity and people very interested in it. Ardagh Group also holds a 42% interest in Trivium Packaging, a leading supplier of sustainable metal packaging That's very helpful. There's been a lot of inflation there over the last couple of years. 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 before moving to take your questions, I'd just like to recap on AMP's performance and key messages. Please go ahead. The contribution from shipment growth was more than offset by higher operating costs. I think in Europe, we see that the consumer is still resilient, but they are clearly under pressure. Looking at AMP's results by segment and at constant exchange rates. In line with our previous guidance, we anticipate an uplift in EBITDA generation into the second half of the year as demand begins to normalize in both markets. See jobs Follow View all 6,018 employees Overview Jobs Life About us We are. I had a question, two actually, on Brazil. 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. And I don't have any further kind of capacity expansions in 2024. The Company has a leading presence in the Americas and Europe and is the second-largest beverage can producer in Europe and the third-largest in North America and Brazil. They're very elastic categories, and demand does expand with promotional and with price. 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. 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. There is some acceleration in volume received in our guidance in the second half, and we can talk more about the markets and why we've got that assumed. Ardagh Group is a global leader in metal and glass packaging solutions, producing packaging for the world's leading brands. We delivered global shipment growth of 3%, including 5% growth in North America and 2% in Europe, and adjusted EBITDA of $130 million, in line with our guidance. Ardagh Metal Packaging (AMP) is a leading global supplier of infinitely recyclable, sustainable, metal beverage cans and ends to brand owners. We create packaging for numerous market sectors including, among others, beverage cans, food, beers, wine and spirits. Ardagh Metal Packaging (AMP) is a leading global supplier of infinitely recyclable, sustainable, metal beverage cans and ends to brand owners. In North America, shipments grew by 5% for the quarter. We laid the groundwork in 2020 by partnering with Project Lead The Way (PLTW) due to their high impact, national reach, experience serving under-served students and strong management. You mentioned the promotional activity. The Gores Group So there's some good space for additional innovation still to come. We're not disagreeing with that. The company will invest at least $195 million to expand its current beverage can metal manufacturing facility in Winston-Salem. Maintaining independence and editorial freedom is essential to our mission of empowering investor success. 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. And we're doing that either through some closures, as we've signaled in our Europe business, with the steel line, all we're doing it through curtailment actions, so taking down capacity and reducing cost as far as possible through that because we intend to run in the 90s, and that's the situation we're going to monitor. We provide a platform for our authors to report on investments fairly, accurately, and from the investors point of view. As previously indicated, our revised growth investment plans are well advanced, and cash outflows comprised the finishing of projects already underway. Is there ability for some shift there? Ardagh Group is aglobal supplier of sustainable, value added, infinitely recyclable, metal and glass packaging for brand owners around the world. Forward-looking statements speak only as of the date they are made. And so you get the shift into one-way packaging. 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. Hi, Arun. We've started those actions, and we're well into them, and we'll be monitoring the extent we need to do through the year. A metal beverage packaging leader in the Americas Ardagh is at the forefront of aluminum beverage packaging, with 11 production facilities throughout the Americas. How concerned are you about the spread of Coronavirus? The contribution from shipment growth was more than offset by higher operating costs. AMP is a leader in sustainable, value-added, infinitely recyclable metal beverage can packaging solutions. How we use your information depends on the product and service that you use and your relationship with us. And as we pivot from a strong investment period into a period where we're running to fill the capacity and drive cash generation, we think the dividend becomes completely sustainable and is a very good fit for our proposition. No, absolutely. And is that driven primarily by kind of volume recovery or maybe cost? Adjusted EBITDA for the quarter of $81 million decreased by 9%, compared with $89 million in the same period last year, primarily driven by input cost headwinds and higher operating costs, partly offset by favorable volume/mix effects. So that's typically what we're looking at there. Ardagh operates 56 metal and glass production facilities in 12 countries, employing more than 16,000 people with sales of approximately $7 billion. Any thoughts there would be appreciated. Look, I think we've also evaluated that risk, and we regard it as very low. Luxembourg B 251465, Modern Slavery Statement And so you get typically a stabilization. So we'd have to backfill it that way. 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. Privacy Policy and So look, overall, it is soft. And the third element is that our program included a significant proportion of seltzers, which had a very strong mix impact in our numbers. 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. Cookie Policy | Privacy Statement | Terms&Conditions. Anthony. Ardaghs metal packaging business operates 23 production facilities in Europe and the Americas, employs approximately 4,900 people and recorded revenues of $3.5 billion in 2020. I think the market has got a couple of $100 million down from that. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. We've seen a very unusual period where price is rising and volumes are dropping less than historically, but we're clearly reaching the limits of that now. Oliver Graham, CEO of Ardagh Metal Beverage, will be CEO of AMP. North America grew by 5%, and more than offset marginally softer shipments in Brazil. So the U.S., again, we've gone through a period of capacity build-out on an oversold market, and there's been some rationalization. On the promotional activity, what gives you the confidence that -- and you mentioned, I think, in non-alcoholic that you're starting to see some activity and some improvement, but why should we expect that, that's going to continue going forward? For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of MiFID II; or (ii) a customer within the meaning of Directive (EU) 2016/97, where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II; or (iii) not a qualified investor as defined in Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 (this regulation together with any implementing measures in any member state, the Prospectus Regulation). Headquartered in Luxembourg, the business supplies sustainable and infinitely-recyclable metal packaging to a diversified customer base of leading global, regional and national beverage producers. Ardagh Metal Packaging is the third-largest producer of aluminum beverage cans in the world. 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. Ardagh Group is a global supplier of sustainable, value added, infinitely recyclable, metal and glass packaging for brand owners around the world. of our resilient start to the year, we are reaffirming our full year guidance. It serves the beverage, beauty, pharmaceuticals . On a long-term basis, to the extent that there is a transition from returnable glass to one-way packaging kind of both substrates can win in that environment from a number of units perspective. And that linked to their overall market weakness. Dow Jones Industrial Average, S&P 500, Nasdaq, and Morningstar Index (Market Barometer) quotes are real-time. They've chosen to kind of accelerate their glass investment, and then you guys have sort of delayed the greenfield investment that you're going to make in cans down in Brazil. Is this happening to you frequently? Any forward-looking information presented herein is made only as of the date of this release, and we do not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise. You've got different players performing differently. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Our Sales team is uniquely qualified to discuss these product advantages and how Ardagh will deliver value across your entire business from design, to spec, to production and on-time delivery of the highest quality packaging in the industry. You can update your preferences by clicking the "Cookie Policy" link at the bottom of any page on our website. As the only pure-play beverage can company, AMP products touch billions of consumers worldwide. 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. 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. In 2020, we launched our new sustainability strategy to reinforce our commitment to the circular economy. One of our customers in Brazil entered a judicial reorganization process in the period. And as I said in my other remarks, I think there's a few other categories very ripe for the can, including the sports drink as well. Our adjusted EBITDA result represented an 8% decline on a constant currency basis versus the prior year quarter. Adjusted EBITDA in the Americas decreased by 9% to $81 million in the first quarter. 1. So for '23, there's no impact of the falling energy because we're fully hedged, and the big customers were comfortable with the decisions we took there and accepted those into the '23 volumes. With a compelling financial profile and clear trajectory for growth, we believe AMP can continue to lead the charge, and we look forward to partnering with Paul Coulson and the team as they continue to execute a targeted expansion strategy supported by highly visible market demand and a strong track record of disciplined and efficient capital deployment., Sustainability is an important component of our investment strategy, and AMP is a clear leader in this spaceenvironmentally, ecologically and socially, said Mark Stone, Senior Managing Director of The Gores Group and CEO of Gores Holdings V. As customers around the world continue to demand sustainable solutions, we believe the Company is strongly positioned to capitalize on the exceptional growth opportunities ahead and were thrilled to be partnering with the team to do so.. But as I said, I think it's really at the margin relative to the overall volume being shipped in the market. 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. And good luck on the rest of the year. Revenue in the Americas in the first quarter . Provide specific products and services to you, such as portfolio management or data aggregation. So the quick answer to the quick question was, yes. So there clearly is capacity available in all 3 markets, but I think everybody is making sure to take the actions to run at a good utilization level. Thanks, Ellen, and thank you to everyone on the call. None of Gores Holdings V, Ardagh or AMP gives any assurance that either Gores Holdings V or AMP will achieve its expectations. And so I think that although there is capacity in the market, I think it's being managed in a good way. 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. 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. 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. We are committed to conducting our activities with the highest standards of integrity and business practice in dealing with all of our stakeholders. We're not letting any of the bank on it, but we're still excited about the still water category.

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