ardagh metal beverage

So we have some payments this year. And appreciating that you can't speak for kind of your sister organization. So I was wondering if you could just give us a little bit more details on particularly in North America, just how the quarter progressed from a shipment standpoint and then maybe what you're seeing in shipments here in April? The conference call will be accompanied by a detailed investor presentation. This press release is not a solicitation of a proxy from any investor or securityholder. We've got some filling that moved to the Nordics where we don't have capacity. But as I say, all of those activities were completed last year. Our global shipments grew by 3% led by growth of 5% in North America and with a solid performance of 2% in Europe. 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. 2 min read New 19.2 oz. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. Look, I think in one-returnable transition to one-way transitions to one-way can [indiscernible] glass because the customers want to use the shelf and have some premium positioning around glass and then some mass volume driving around cans. 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. [3] History A global supplier in sustainable packaging solutions - Ardagh Group We provide a platform for our authors to report on investments fairly, accurately, and from the investors point of view. There's been a lot of inflation there over the last couple of years. So let's go region by region. 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. So it's got no meaningful impact really on our capacity position. 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. Ardagh Metal Packaging S.A. (NYSE: AMBP) will hold its first quarter 2023 earnings webcast and conference call for investors at 9.00 a.m. EDT (2.00 p.m. BST) on April 27, 2023. I mean clearly, nothing like last year, but a little bit volatility to the pressures on the consumer. Regular quarterly ordinary dividend of 10c announced, in line with guidance for an annual dividend of 40c per share. 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. Fixed cost under absorption net of our mitigating curtailment actions remains a headwind to our performance. Ardagh Metal Packaging (AMP), 75%-owned by Ardagh Group islisted on the New York Stock Exchange. And the third element is that our program included a significant proportion of seltzers, which had a very strong mix impact in our numbers. In light of our resilient start to the year, we are reaffirming our full year guidance. Our next question comes from Kyle White from Deutsche Bank. As previously indicated, our revised growth investment plans are well advanced, and cash outflows comprised the finishing of projects already underway. Estimated $118K - $149K a year. Our metal cans are available in a range of sizes from 8 oz. At this time, I would like to turn the conference over to Mr. Stephen Lyons, Ardagh Metal Packaging Investor Relations. I was going to hit it later. And so that's a tough comparator for us. Total beverage can shipments in the quarter were 3% higher than the prior year, with 5% growth in North America and 2% growth in Europe, offsetting a 1% decline in Brazil. Constantly evolving production technologies are used to ensure exciting possibilities and environmental sustainability in metal beverage packaging for the future. We believe a partnership approach is essential in the development of both product and process innovation. Got it. 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. The document includes detailed information on the manufacturers and suppliers and their products, along with contact details, to inform your purchasing decision. Looking at AMP's results by segment and at constant exchange rates. And therefore, that growth we see having zero impact on our growth because our growth will be much more significant given the capacity position, given the consumer adoption of the can and given the significant shift we expect out of two-way. You can update your preferences by clicking the "Cookie Policy" link at the bottom of any page on our website. 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. Ardagh Group is a global supplier of infinitely recyclable metal and glass packaging for the world's leading brands. But taking it in a different perspective, right, the market is putting a yield on the dividend of around 11%, which suggests investors put a high-risk factor on that dividend. George, thank you. I guess first question is on Europe. Ardagh Metal Packaging (AMP) is a leading global supplier of infinitely recyclable, sustainable, metal beverage cans and ends to brand owners. 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. Ardagh Metal Packaging operates 24 production facilities in nine. There's just some ups and downs and I think that goes back to the fact that the market remains a little bit volatile. And so you get typically a stabilization. We strive to add value in line with customer aspirations and develop packaging that continually improves the consumer experience. So we're not seeing any significant price activity. So what are you seeing across the regions in terms of the buying patterns as well? 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. The first one, so look, when we've looked at packaging markets over the years, over time, within one-way packaging, cans almost always went out over one-way glass because you have distribution efficiencies. Provide specific products and services to you, such as portfolio management or data aggregation. At the current share price of $10.60 for GRSV, the stock position of Ardagh in Gores will be worth $5.14B, representing a value of approximately $21.75/share of Ardagh. Ardagh Metal - Beverage North America CEO Claude Marbach said: "This project forms part of Ardagh's $1.8bn 2021-2024 business growth investment programme and is being undertaken to meet fast-growing demand as consumers increasingly recognise the environmental and quality advantages of beverage cans. Beverage Container Recycling Centers - California 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. And that linked to their overall market weakness. We are committed to conducting our activities with the highest standards of integrity and business practice in dealing with all of our stakeholders. So in the $300 million, it will drop by a lot. And then lastly, just I guess on the curtailments. Please use the . Please go ahead. 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). So yes, keep an eye on off-trade penetration of cans is the number to look for. Metal offers versatility, unlimiteddesign and brand building opportunities like no other material and is used across the world in many market sectors. You've got different players performing differently. We continue to manage our capacity in a disciplined manner through curtailment actions that moderate our footprint ahead of growth in demand and that position the business for a period of investment-free growth. Can you just talk about how you think that can impact the market here in the near term? Ardagh is at the forefront of aluminum beverage packaging, with 11 production facilities throughout the Americas. That's very helpful. The entire sector is on fire as supply cannot keep up with the existing demand and expected demand. 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? 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. john.sheehan@ardaghgroup.com, Media And that explains the entirety of the bridge. A partner of choice for beverage companies, AMP is known for its outstanding quality and customer service and is the only pure play metal beverage can producer of scale in the market today. We are proud to have committed to the International Aluminium Institute's, Aluminium Forward 2030 initiative, bringing together global leaders across the aluminium supply chain, with the aim to accelerate progress towards net zero emissions. Consumer demand remained resilient in the quarter led by carbonated soft drinks. Welcome to the Customer Portal - Ardagh Metal Beverage 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. This press release contains certain AMP projected financial information. Ardagh produces distinctive and innovative glass packaging in all shapes and sizes for brand owners around the worldand offers a choice of almost 20 different colours. And just so on that note then, does your European business take a step down from here? Yes. We will continue to focus on working capital efficiencies, and our guidance for a full year working capital benefit of approximately $100 million remains unchanged. AMP's earnings release and related materials for the first quarter can be found on AMP's website at www.ardaghmetalpackaging.com. Yes. My last one, I'll turn it over. Beverage Cans, Metal: Except Beer (1) Can Lids and Ends, Metal (2) Can Manufacturers (24) . Both businesses performed ahead of our expectations, offsetting a softer performance in Brazil and supporting the delivery of our adjusted EBITDA guidance. Total beverage can shipments in the quarter were 3% higher than the prior year, with 5% growth in North America and 2% growth in Europe, offsetting a 1% decline in Brazil. And then I know you've given a lot of color regarding the categories in some of the regions. Thanks, David. Maybe just because Anthony set it up, I'll cover the dividend. A subsidiary of sustainable packaging. Given the Q1 CapEx, how much above the average targeted quarterly level? In 2023, we continue to expect strong shipment growth in the Americas in the order of high single-digit percentage supported by improving market conditions and the ramp-up of our investments. Thank you. But on the direct energy piece, yes, there will clearly be some get back with the dropping of the energy price. Privacy Policy and So that's how we see the 3 markets at the moment. Please go ahead. Yes. Metal's unique and proven product protection qualities are outstanding. 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. Ardagh Metal Packaging S.A. - First Quarter 2023 Results In Europe, first quarter revenue increased by 3% on a constant currency basis to $486 million compared with the same period in 2022, mainly due to more favorable input cost recovery. Ardagh operates 65 metal and glass production facilities in Mingfeng USA Packaging. Continuous improvement across manufacturing processes through material, energy and water reductions that further strengthen Ardaghs and our customers sustainability platforms. Well, we said at the full year, we're curtailing over $1 billion in Europe this year and over $2 billion in North America. Ardagh Group also holds a 42% interest in Trivium Packaging, a leading supplier of sustainable metal packaging So as I say, we think that's a fundamental shift. In Europe Adjusted EBITDA declined by 8% to $49 million as a strong contribution from input cost recovery was more than offset by higher operating costs and the seasonal rebalancing of the contract asset margin. Ardagh operates 56 metal and glass production facilities in 12 countries, employing more than 16,000 people with sales of approximately USD 7bn. 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. 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. Our Code of Conduct is a guide for conducting our business in an honest and professional manner. Ardagh Metal Packaging Q1 2023 Results About Search Results. 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. Visual effects across labels and ends to positively influence consumer purchase decisions and strengthen retail price points. Oliver Graham, CEO of Ardagh Metal Beverage, will be CEO of AMP. 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. Investors Metal has the best recycling rates of all packaging materials in Europe, contributing to a circular economy. 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. The Company has an entrepreneurial owner-manager culture that has led to a successful transformation underpinned by powerful industry dynamics. 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. So just anything that you can speak to in terms of one substrate winning or not in the beer category down there and then what we should be looking for in the outside world that could kind of reaccelerate that transition to one way versus returnable. Additional information regarding the interests of those persons and other persons who may be deemed participants in the proposed Business Combination may be obtained by reading the proxy statement/prospectus regarding the proposed Business Combination when it becomes available. The contribution from shipment growth was more than offset by higher operating costs. A subsidiary of sustainable packaging business Ardagh Group, AMP is a leading industry player across Europe and the Americas with innovative production capabilities. Overall, the decline in the year reflected softer conditions in the Brazil market, with our performance in North America ahead of the prior year and our expectations due to good volume growth and improved manufacturing efficiency. Brett Valach - Sales, Reliability Solutions and Services - LinkedIn Following closing of the business combination, Ardagh currently intends to offer holders of its Class A common shares the opportunity to exchange their Class A common shares for consideration which may include a portion of Ardaghs holding in AMP. Ardagh Metal Packaging Invests in NOMOQ - Yahoo Finance 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. 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. One longer-term question, one sort of short-term financial question. The Company intends to apply to list its shares on the New York Stock Exchange (NYSE) under the new ticker symbol AMBP. Moving now to our financial position. innovation, quality and customer service, backed by investment in our people and processes, underpinseverything we do. Ardagh Group is a global leader in metal and glass packaging solutions, producing packaging for the world's leading brands. Yes. We will show continued discipline with our capacity planning in the interim. Luxembourg B 251465, Modern Slavery Statement Got it. Due to disciplined cost stewardship, actions to improve manufacturing efficiency and stronger input cost recovery. Ardagh Metal Packaging S.A. (AMBP) Q1 2023 Earnings Conference Call April 27, 2023 9:00 AM ETCorporate ParticipantsStephen Lyons - IROliver Graham - Chief Executive OfficerDavid Bourne -. Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. Adjusted EBITDA of $130 million for the quarter was in line with our guidance and represented an 8% decrease on a constant currency basis. So that big step-down is what then allows us to grow, as we say, investment-free into our capacity. Develop and improve features of our offerings. The cash proceeds from the transactions will be used to reduce net debt at Ardagh. 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. 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. Ardagh Metal Packaging S.A. (AMBP) Q1 2023 Earnings Call Transcript Consequently, no offer of securities to which this announcement relates, is made to any person in any Member State of the EEA which applies the Prospectus Regulation who are not qualified investors for the purposes of the Prospectus Regulation, is made in the EEA and no key information document required by Regulation (EU) No. The people that make up AMP share much more than a strong brand and an excellent reputation. So that's also a drag. But just with that additional availability, clearly, some of that is coming on to the market. Yes. Cookie Policy | Privacy Statement | Terms&Conditions. You may now disconnect. Yes. 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? We are fully hedged for the current year and have significantly progressed our energy purchases for future years as prices have fallen. Rexam Beverage Can Americas is an operation of one of the world's leading consumer packaging groups and the world's leading beverage can maker. 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So they're clearly not in 2024, and we'll guide each year as we go. Wed like to share more about how we work and what drives our day-to-day business. Ardagh Group is a global supplier of infinitely recyclable metal and glass packaging for the world's leading brands. And again, sort of, I don't know, maybe 6 to 12-month lag, maybe it's 12 months entirely. The companys global supply chain partners commitment to the Aluminium Forward 2030 coalition and endorsement of the Mission Possible Partnerships net-zero strategy supports actions to achieve the industrys net-zero carbon footprint ambition. 1901 Avenue Of The Stars, Suite 450 Los Angeles, CA 90067 Anwar Dillon-Thomas Burton Attorney at Bokhour Law Group 1901 Avenue Of The Stars, Suite 450 Los Angeles, CA 90067 Defendant Attorneys Sabrina Layne Shadi We will continue to closely monitor demand conditions and balance our capacity in a disciplined manner. Gear advertisements and other marketing efforts towards your interests. A subsidiary of sustainable packaging business Ardagh Group, AMP is a leading industry metal packaging companyacross Europe, North America and Brazil with innovative production capabilities. So how are you thinking about achieving maybe the '21, sorry, the '24 numbers around $1.1 billion of EBITDA? Contents are protected from air and light, with their distinct flavors preserved, Cans offer 360-degree branding opportunities. Just wondering if you could kind of walk us through kind of the puts and takes on cash and maybe cash step-up next year and the sustainability of the dividend trading at a double-digit yield currently. No. Cookie Policy | Privacy Statement | Terms&Conditions. See Forward-Looking Statements above. Strengths across package variety, the environment and customer business. We had a decent start. You may obtain free copies of these documents as described in the preceding paragraph. A metal beverage packaging leader in the Americas Ardagh is at the forefront of aluminum beverage packaging, with 11 production facilities throughout the Americas. 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. Ardagh Metal Packaging S.A. - First Quarter 2023 Results, Investors Look Right Past the First Republic Bank Closure, Markets Brief: 10th Straight Fed Rate Hike on Tap. The people that make up Ardagh share much more than a strong brand and an excellent reputation. And good luck on the rest of the year. And then also, what does that mean for your European footprint in terms of now potentially having some excess slack over in the Austrian region? Ardagh has reaffirmed its full-year guidance, with shipment growth of mid to high single digits. 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. 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. Just sort of how to think about that because I think the business model now has probably changed. And I guess you'll talk about the regional trends maybe in some of the other questions. The Company believes that strong demand in traditional and new beverage categories coupled with environmentally-conscious end consumers are driving an inflection point in beverage can demand and the Company is well positioned to capitalize on these multifaceted growth opportunities. Could you comment on that in the context of capacity? Our adjusted EBITDA result represented an 8% decline on a constant currency basis versus the prior year quarter. And we also just have some one-off effects in our results. So yes. 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.
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