ardagh metal beverage

Metal beverage cans are the ideal example of a circular economy, with recycled cans being able to return to retail shelves in their original form in approximately 60 days. You will be paid the full CRV redemption of 5 cents or 10 cents on each container. So I think North America, this 83% innovation number is really playing through into the market, and we're seeing that in the results. Strengths across package variety, the environment and customer business. I'd say you put those 3 components together, you're at or very close to covering the dividend mix. Copyright 2023 Morningstar, Inc. All rights reserved. And just one last one. But the fundamentals are that these are very promotional categories. They're saying it publicly, and I think the major CSD player in the last week or so has absolutely signaled that they want to both carry on hitting the higher end of the market, but definitely hitting the lower end and the more economically challenged consumers because they don't want to lose those consumers to their brand. Our next question is from George Staphos from Bank of America. Sure, Jay. The company is a global supplier of sustainable, infinitely recyclable metal beverage cans to brand owners. The metal can also shields against sunlight, providing impeccable ingredient protection assuring desired taste profiles. So are we balanced in the U.S.? We are very well diversified in our customer base in Brazil, and we do not expect that the reorganization process will negatively impact on overall beer consumption in the country. john.sheehan@ardaghgroup.com, Media Additional Information about the Business Combination and Where to Find It. Is that what you're seeing as well or maybe just comment overall on the outlook there. Ardagh Metal Packaging (NYSE: AMBP) is a leading supplier of sustainable and infinitely recyclable beverage cans globally. 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 Company intends to apply to list its shares on the New York Stock Exchange (NYSE) under the new ticker symbol AMBP. Ardagh Metal Packaging S.A. (AMBP) Q1 2023 Earnings Conference Call April 27, 2023 9:00 AM ET. I appreciate that. 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. 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 there's some good space for additional innovation still to come. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. And then lastly, just I guess on the curtailments. So how are you thinking about achieving maybe the '21, sorry, the '24 numbers around $1.1 billion of EBITDA? 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. So seltzers for us, we had softness in particular with one customer there. Such projected financial information is forward-looking and is for illustrative purposes only. This offset softer performance in Brazil where industry demand is slowly recovering. So that's why we still think it's a low single to mid-market this year. We operate 65metal and glass production facilities in 16countries, employing more than 20,000 people. And just so on that note then, does your European business take a step down from here? On closing of these transactions, in addition to its holding in AMP, Ardagh will retain 100% ownership of its glass packaging business as well as its 42% stake in Trivium Packaging BV. Very concerned Slightly concerned Neither concerned nor unconcerned Not very concerned Not concerned 0% GlobalData GlobalData 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. Indianapolis, IN 46256. One of the first things you do along that journey is that is to kind of change of raw material buying patterns, and we calibrate that where your demand profile is, and we've been doing that during the quarter. We will show continued discipline with our capacity planning in the interim. Brazil, we'll wait to hear what you say, but I appreciate the thoughts there. You can get your beverage container recycling refunds on a per-container basis instead of by weight. Adjusted EBITDA for the quarter of $49 million decreased by $7 million, or 13%, at actual exchange rates, and by 8% at constant currency, compared with $56 million in the same period last year. The beer market saw an overall softer performance in the off-trade but with notable exceptions in the economy segment of both brands and own label. As a permanent material glass is 100% and infinitely recyclable, making it the perfect packaging choice for products today and in the future. Ardagh operates 56 metal and glass production facilities in 12 countries, employing more than 16,000 people with sales of approximately $7 billion. PLTW provides students from pre-kindergarten through high school (PreK-12) with hands-on manufacturing and engineering pathway options and real-world challenges while focusing on teacher training and continuous innovation. 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. And so that's a tough comparator for us. Are they going to have a hard time kind of breaking in with the amount of contracted revenue that you feel like the industry has right now? The consistent pursuit of market-leading And then also similarly in Europe and Brazil, how did you characterize the supply and demand? 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? On the normal PPI resets, typically, we don't see a negative in our costs because of labor and some other cost elements. Cookie Policy | Privacy Statement | Terms&Conditions. Turning to our sustainability agenda. Or is that just sort of a tail risk or something I'm kind of making up in my head? But then there is also an acceleration of our inflation recovery. Revenue increased by 1% to $645 million in the three months ended March 31, 2023, compared with $638 million in the same period last year, principally reflecting favorable volume/mix impacts, partly offset by lower metal cost pass through. Ardagh Metal Beverage Jobs, Employment | Indeed.com 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. Please use the . So look, I think there's a couple of things in the full year guide. Adjusted EBITDA decreased by $15m, or 10%, to $130m in the three months ended 31 March 2023, compared to $145m in the same period last year. We have local experts who understand your customers needs and who can speak your language. So we have some payments this year. And right now, you need to be operating in economy or price competitive parts of the market or you need to be discounting into those parts of the market because the consumer is under pressure. (2) Cash from operations for the three months ended March 31, 2023, is derived from the aggregate of Adjusted EBITDA as presented on Page 7, working capital outflows of $346 million and other exceptional cash outflows of $12 million. Actual results may differ materially from the results contemplated by the projected financial information contained in this press release, and the inclusion of such information in this press release should not be regarded as a representation by any person that the results reflected in such projections will be achieved. Ardagh Metal Packaging is the third-largest producer of aluminum beverage cans in the world. And I think it just will depend a lot on which customers and which segments you're in. 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. The second element is, we've not built out all the investment in the original program, so particularly the Brazil greenfield. Silgan. 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. 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. And so we don't see that impacting us because those are known events in the near term. In North America, shipments grew by 5% for the quarter. 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. Prior business combinations for special purpose acquisition companies sponsored by affiliates of The Gores Group include: Hostess (Gores Holdings, Inc.), Verra Mobility (Gores Holdings II, Inc.), PAE (Gores Holdings III, Inc.), Luminar (Gores Metropoulos, Inc.), United Wholesale Mortgage (Gores Holdings IV, Inc.), and the pending Matterport transaction (Gores Holdings VI, Inc.). Would you attribute that to the new entrants or just kind of the overall supply-demand balance in the North American market right now? 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. We continue to monitor that, obviously, on a month-by-month basis, and we continue to monitor our overall capacity because we do intend to keep utilization in the 90s over the next few years. 1. Estimated $118K - $149K a year. (568ml) aluminum beverage can offering enables. Metal beverage packaging is universally recognised for its protective qualities, versatility and environmental credentials. So I think that's where there is some softness. I mean it's not the biggest situation. Contact Customer Service at: +1-800-323-3401, Ardagh Metal Packaging S.A., 56, rue Charles Martel, L-2134 Luxembourg, LuxembourgR.C.S. We offer the latest innovations across such areas as decoration, label graphics, end design, and more. And due to our security coverage, we do not foresee a material credit risk at this point in time. Ardagh Metal Packaging (AMP), 75%-owned by Ardagh Group islisted on the New York Stock Exchange. 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. 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. Thanks, Ellen, and thank you to everyone on the call. We're confident our peers will monitor that in the same way. The future were creating for AMP is built around our three core values of Trust, Teamwork and Excellence. Details of Ardagh Metal Packaging beverage can plant. [Operator Instructions]. So the European business takes a step up from here. Yes. * Other non-current liabilities include liabilities for earnout shares of $52 million at March 31, 2023 (December 2022: $76 million) and warrants of $4 million at March 31, 2023 (December 2022: $7 million). 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 reaffirm our guidance for 2023, which assumes global shipment growth of a mid to high single-digit percentage and adjusted EBITDA growth in the order of 10% weighted to the second half due to more favorable prior year comparisons and improving volumes. Most recently worked as the Quality Manager for Ardagh Metal Beverage, in Chicago, IL. The European energy market continues to improve its resilience supported by public policy actions. 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. ARDAGH METAL BEVERAGE USA INC. | LinkedIn Europes Revenue decreased by 3% to $486m in the three months ended 31 March 2023, compared to $499m in the same period last year. We have also added an earnings presentation on to our investor website for your reference. And that's what we thought when we gave our full year guidance, and our opinion on that hasn't changed. LUXEMBOURG, April 27, 2023 /PRNewswire/ -- Ardagh Metal Packaging S.A. (NYSE: AMBP) today announced results for the first quarter ended March 31, 2023. So that's also a drag. So we're still talking about pricing being in healthy margin territory. And so I think what that means, there's a volatility in demand patterns customer by customer. 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. Maybe just because Anthony set it up, I'll cover the dividend. Paul Coulson, Chairman and CEO of Ardagh, will serve as Chairman and Shaun Murphy, COO of Ardagh, will serve as Vice Chairman of the Company following the closing of the transaction. We are committed to conducting our activities with the highest standards of integrity and business practice in dealing with all of our stakeholders. Is this happening to you frequently? Fixed cost under absorption net of our mitigating curtailment actions remains a headwind to our performance. And then the second fundamental is that inflation is moderating. Maintaining independence and editorial freedom is essential to our mission of empowering investor success. Ardagh is at the forefront of aluminum beverage packaging, with 11 production facilities throughout the Americas. 2023-04-27 | NYSE:AMBP | Press Release | Ardagh Metal Packaging S.A. Luxembourg-based metal packaging supplier Ardagh Metal Packaging (Ardagh) has reported a solid performance in the first quarter (Q1), with global beverage can shipments growing by 3% during the period. 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? Please go ahead. So I think the way we'd characterize that is the major players are taking action to keep ourselves balanced and to keep utilization in the 90s. Okay. As we step through that, of course, you get the benefit to raw materials, but you get the step-down in payables. [3] History Readers are cautioned not to put undue reliance on forward-looking statements, and Gores Holdings V, Ardagh and AMP assume no obligation and, except as required by law, do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. We're not letting any of the bank on it, but we're still excited about the still water category. Yes. Being infinitely recyclable, a glass bottle or jar can be made into a new one over and over again, with no loss in quality or purity. We also respect individual opinionsthey represent the unvarnished thinking of our people and exacting analysis of our research processes. And maybe just to clarify on a couple of those points. 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. We are committed to investing in a future for all and we work hard to uphold our promises. First quarter adjusted EBITDA in Europe fell by 8% on a constant currency basis to $49 million as the contribution from higher shipments and input cost recovery was offset by higher overhead costs and the known impact from the timing of inflation recovery recognition in EBITDA. Can you just talk about how you think that can impact the market here in the near term? We support our customers' drive to differentiate their products, providing innovative shaping, decoration and convenience features. Ardagh Metal Packaging to invest $200m in Northern Ireland - PR Newswire Thanks. One last one on Europe. 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. Or are we operating at a high level? 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. Could you talk a little bit about maybe the buying patterns, the destocking trends that you've seen? None of Gores Holdings V, Ardagh or AMP gives any assurance that either Gores Holdings V or AMP will achieve its expectations. For more, click here. 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. 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 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 -. Please go ahead. Yes. And then, finally, they're not just saying to us, right? It serves the beverage, beauty, pharmaceuticals . Welcome to the Ardagh Metal Packaging S.A. First Quarter 2023 Results Call. So when you think about the IPO trajectory, obviously, there's been some changes there. 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. How we use your information depends on the product and service that you use and your relationship with us. You may obtain free copies of these documents as described in the preceding paragraph. So I think we're well placed for the growth that's about to come. And therefore, there's a very meaningful step-down into 2024. So to cover off your second point, working capital, if you go back to FY '22, we had approximately $200 million outflow that's partly as we came down in terms of the demand pattern from our initial expectations and had an inventory build with that. Pat Walsh No, I wouldn't say that. 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. On a constant currency basis, revenue increased by 2%, reflecting favourable volume/mix effects and the pass-through to customers of higher input costs. 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. From Bank of America, we will take our next question from George Staphos. Luxembourg B 251465, Modern Slavery Statement Website. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. And we can see those in our results, which is why we think we're a little bit ahead of the market. Due to disciplined cost stewardship, actions to improve manufacturing efficiency and stronger input cost recovery. The company will invest at least $195 million to expand its current beverage can metal manufacturing facility in Winston-Salem. The cash proceeds from the transactions will be used to reduce net debt at Ardagh. 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. Why have a dividend that high and at that level relative to your equity and relative to your cash flow now? A subsidiary of sustainable packaging. You have billboard. Ardagh Group (NYSE:ARD), a global supplier of sustainable, infinitely recyclable, metal and glass packaging, will add 94 new jobs in Forsyth County, Governor Roy Cooper announced today. Develop and improve features of our offerings. 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. But obviously, the main thing that's going on for our business at the moment is that the capital expenditure we have this year is just the wrap-up of the projects that we've essentially more or less completely finished. And then I think you'll see that the competition or return to the off-trade into the cans and to the extent they can source it one-way glass, because that's where market share will be gained and that's what led to the shift out of returnable over the last few years was the fact that players didn't like losing market share. Verify your identity, personalize the content you receive, or create and administer your account. In addition, new risk factors and uncertainties emerge from time to time, and it is not possible for us to predict all risk factors and uncertainties, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual events to differ materially from those contained in any forward-looking statements. The impact to our business is offset by growth across other categories, including carbonated soft drinks, energy and wellness and in spirit-based ready-to-drinks. We caution you that the forward-looking information presented in this press release is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this release. The foregoing list of factors is not exhaustive. In the short-term here, it feels like there's sufficient capacity, by our estimates, kind of mid-70s utilization and as well as pressure on the consumer. Visit Website. I don't know, David, if you want to add anything to that. Please go ahead. 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. 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. 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. So we're not seeing any significant price activity. And so you get the shift into one-way packaging. And again, we're talking about prices coming off historically very high levels because of the market was so tight. For more information, visit https://www.ardaghmetalpackaging.com/investors. innovation, quality and customer service, backed by investment in our people and processes, underpinseverything we do. I mean that category, though, overall, I think, is beginning to move. There's just some ups and downs and I think that goes back to the fact that the market remains a little bit volatile. Cookie Policy | Privacy Statement | Terms&Conditions. Net leverage at the end of the quarter, up 5.8x LTM adjusted EBITDA, was modestly better than our expectation and was despite a strengthening in the euro-dollar rate into the end of the quarter. 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. Continuous improvement across manufacturing processes through material, energy and water reductions that further strengthen Ardaghs and our customers sustainability platforms. Could you comment on that in the context of capacity? Global beverage can shipments grew by 3% in the quarter, driven by growth of 4% in Americas and 2% in Europe. Metal beverage cans are one of the most recycled drinks package in the world, contributing to a circular economy.. 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. 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. 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. Beverage Cans, Metal: Except Beer (1) Can Lids and Ends, Metal (2) Can Manufacturers (24) . Ardagh Metal Packaging's NOMOQ buy is a win for aluminium cans For interested investors who wish to participate, the conference call and replay details will be available on the Investors section of the Ardagh Group website at https://www.ardaghgroup.com/corporate/investors. Ardagh has reaffirmed its full-year guidance, with shipment growth of mid to high single digits. Adjusted EBITDA for the quarter was $49m, decreasing by 13% at actual exchange rates and 8% at constant currency compared to $56m in the same period last year. Now potentially, the market is a little bit more balanced. Again, clearly, with the events of the last few weeks, there's going to be very different outcomes for different players in the market, depending on which customer they've got on the beer side. 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. Metal is a permanent material, meaning it can be infinitely recycled without any loss of quality.
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