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. This reduces our impact on the environment, and improves the communities in which we do business. And good luck on the rest of the year. Metal Packaging Supplier | Sustainable Packaging Solutions | Ardagh Manufacturing Engineer Intern - Career Center | University of Southern The company is a global supplier of sustainable, infinitely recyclable metal beverage cans to brand owners. of our resilient start to the year, we are reaffirming our full year guidance. 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. 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. We're encouraged by the early signs of an improvement in demand with a small increase in promotional activity, which we expect to strengthen over the coming months through the peak summer season. We may use it to: To learn more about how we handle and protect your data, visit our privacy center. And then in Brazil, our customers are not telling us very much because I think they're very short one way. In terms of the other players, I think most of them did get some degree of contractual coverage on their investments. California Refund Value (CRV) is the amount paid by consumers at the checkout stand and paid back to consumers when they recycle eligible aluminum, plastic, glass and bi-metal beverage containers at certified recycling centers. And I guess you'll talk about the regional trends maybe in some of the other questions. And therefore, there's a very meaningful step-down into 2024. Q1 2023 Ardagh Metal Packaging SA Earnings Call. So I think North America, this 83% innovation number is really playing through into the market, and we're seeing that in the results. Adjusted EBITDA of $130 million was down 8% on the prior year on a constant currency basis. So I'm just mentioning it, [indiscernible] is more kind of, that's a one-off example of some things happening in the first quarter, we're not picking up in the U.S. because of the geographical footprint, but it is actually them planning -- they're planning to launch in Europe. We offer the latest innovations across such areas as decoration, label graphics, end design, and more. 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. Strengths across package variety, the environment and customer business. Look, it's going to go very meaningfully lower. Please go ahead. 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. And if so, how far along are you? And that's a fundamental shift, and we expect that to continue once the normalization occurs around the very high inflation that's occurred on the can in the last 6, 12 months in Brazil, which we talked about and others have talked about, that's about the LME and where our customers have to hedge LME, and it's also about the fact that with dollar price elements of the can, which in a devaluing currency environment obviously increases inflation. Details of Ardagh Metal Packaging beverage can plant. They're very elastic categories, and demand does expand with promotional and with price. So there's some good space for additional innovation still to come. AMP is a global leader in the supply of sustainable and infinitely-recyclable beverage cans. Our expectation of the current year is unchanged, which includes growth investment of just under $400 million with a cash flow element under $300 million. 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. My last one, I'll turn it over. Oliver Graham, CEO of Ardagh Metal Packaging, said: "We delivered a solid performance in the first quarter meeting our market guidance, due to disciplined cost stewardship, actions to improve manufacturing efficiency and stronger input cost recovery. ", Bridge of 2022 to 2023 Revenue and Adjusted EBITDA. Ardagh Group S.A., 56, rue Charles Martel, L-2134 Luxembourg.R.C.S. This, in turn, supports our dividend policy and balance sheet deleveraging. Please review the detail of AMP's forward-looking statements disclaimer and reconciliation of non-IFRS financial measures to IFRS financial measures in AMP's earnings release. Aluminum Can Manufacturer to Significantly Expand Capacity through The growth was driven by a 4% increase in the Americas and a 2% increase in Europe. On a constant currency basis, revenue increased by 2%, reflecting favourable volume/mix effects and the pass-through to customers of higher input costs. +353 87 2269345 / +1 646 776 5918. Metal Beverage Packaging Manufacturers Americas - AMP I mean North America and Europe, you've seen cans grow versus one-way glass over the last 20 years or so and over the last 10 years. Ardagh Group is a global supplier of sustainable, infinitely recyclable, metal and glass packaging for brand owners around the world. Thanks, Stephen. And just so on that note then, does your European business take a step down from here? Ardagh is a global supplier of infinitely-recyclable metal and glass packaging for the worlds leading brands. We will take our next question from [Alex Simon from Tieco] [ph]. Perfect. And the third element is that our program included a significant proportion of seltzers, which had a very strong mix impact in our numbers. 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. From Bank of America, we will take our next question from George Staphos. There's just some ups and downs and I think that goes back to the fact that the market remains a little bit volatile. Ardagh Group 3.2. And we don't see that happening this year. 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. 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. Highlights. Thanks. So I think that this obviously mainly allows them to trade effectively and come to some sort of plan with creditors. In 2020, we launched our new sustainability strategy to reinforce our commitment to the circular economy. Is there ability for some shift there? Why have a dividend that high and at that level relative to your equity and relative to your cash flow now? So the European business takes a step up from here. (1) For a reconciliation to the most comparable IFRS measures, see Page 7. 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. As that moves to the U.S., are you going to get that business, do you need to make any investments for it? Both businesses performed ahead of our expectations, offsetting a softer performance in Brazil and supporting the delivery of our adjusted EBITDA guidance. I'm joined today by Oliver Graham, AMP's Chief Executive Officer; and David Bourne, AMP's Chief Financial Officer. Looking at AMP's results by segment and at constant exchange rates. But actually, if you look across broader markets, there's a stabilization that occurs at a certain point where the customers and the retailers have respectively divided the categories into more premium positioning for the glass bottle one way and then, as I said, for more mass volume driving position for the can. So we have volumes, we're getting to pick up. So it's got no meaningful impact really on our capacity position. 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. The cash proceeds from the transactions will be used to reduce net debt at Ardagh. 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 can update your preferences by clicking the "Cookie Policy" link at the bottom of any page on our website. We operate 65metal and glass production facilities in 16countries, employing more than 20,000 people. Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. So if you put all that together, would you characterize, if you can just help us understand the supply-demand balance in each of these markets. So exactly. Our performance in North America, with good volume growth, and Europe with improved cost passthroughs were both ahead of expectations. 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.