ardagh metal beverage

Continuous improvement across manufacturing processes through material, energy and water reductions that further strengthen Ardaghs and our customers sustainability platforms. Such projected financial information is forward-looking and is for illustrative purposes only. Forward-looking statements speak only as of the date they are made. Ardagh Group S.A., 56, rue Charles Martel, L-2134 Luxembourg.R.C.S. We offer the latest innovations across such areas as decoration, label graphics, end design, and more. 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. [2] As of 2012, the company operated 89 facilities in 22 countries, employed approximately 23,500 people, and had approximately 7.7 billion in revenue. This would reduce the . 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. So what we see is a lot of variation between customers depending on their pricing strategies. Gores Holdings V is a special purpose acquisition company sponsored by an affiliate of The Gores Group for the purpose of effecting a merger, acquisition, or similar business combination. Ardagh has reaffirmed its full-year guidance, with shipment growth of mid to high single digits. Sort:Default. Got it. Ardagh operates 65 metal and glass production facilities in But that said, I think we're sitting nicely now with a period of growth in the industry about which we're very confident and with no need to do further investment and with a good set of new and efficient assets. Metal offers versatility, unlimiteddesign and brand building opportunities like no other material and is used across the world in many market sectors. So we also get some enhanced inflation recovery in the subsequent quarters. 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. 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. So we have some payments this year. 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. The contribution from shipment growth was more than offset by higher operating costs. We will take our next question from [Alex Simon from Tieco] [ph]. 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. 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. AMP is a leader in sustainable, value-added, infinitely recyclable metal beverage can packaging solutions. How would you kind of characterize the competitive environment in cans in North America? The consistent pursuit of market-leading innovation, quality and customer service, backed by investment in our people and processes, underpins everything we do. Strengths across package variety, the environment and customer business. We sell different types of products and services to both investment professionals and individual investors. Constantly evolving production technologies are used to ensure exciting possibilities and environmental sustainability in metal packaging for the future. Highlights. Obviously, there's still softness in key areas. read more 26. I think you said Europe looking just to mid-single digit. 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. This press release contains certain forward-looking statements within the meaning of the federal securities laws with respect to the proposed Business Combination, including statements regarding the benefits of the proposed Business Combination, the anticipated timing of the proposed Business Combination, the services or products offered by Ardagh or AMP and the markets in which Ardagh or AMP operates, business strategies, debt levels, industry environment, potential growth opportunities, the effects of regulations and Gores Holdings Vs Ardaghs or AMPs projected future results. We also had softness with the beer customer. 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? And so I think customers in Brazil are still short and importing the one way, and that explains why you might see investments there. 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. I think the market has got a couple of $100 million down from that. So I think that this obviously mainly allows them to trade effectively and come to some sort of plan with creditors. But even within beer, we have some very high performers. ", Bridge of 2022 to 2023 Revenue and Adjusted EBITDA. One last one on Europe. Ardagh Metal Packaging (AMP) is a leading global supplier of infinitely recyclable, sustainable, metal beverage cans and ends to brand owners. Turning our attention to AMP's first quarter results. Mingfeng USA Packaging. We'll now move to Arun Viswanathan from RBC. 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? 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. jchou@gores.com, John Christiansen/Cassandra Bujarski/Danya Al-Qattan We are forecasting volumes to grow at a high single-digit percentage in 2023 in Brazil, which is underpinned by the recent start-up of new capacity in Alagoinhas, customer mix and the market recovery strengthening into the second half of the year supported by an easing of customers' input cost pressures. Ardagh Metal Packaging S.A., 56, rue Charles Martel, L-2134 Luxembourg, LuxembourgR.C.S. Our bonds have been issued on fixed rate terms and not mature before 2027. Ardagh Metal Packaging (AMP) is a leading global supplier of sustainable, infinitely recyclable, metal beverage cans to brand owners. The Company has a compelling financial profile, with a clear and tangible growth trajectory backed by long-term customer contracts and expects to double Adjusted EBITDA from $545 million in 2020 to over $1.1 billion in 2024. Website (562) 699-9800. Actual results could vary materially from such statements. I wanted to go back a little bit to the curtailment actions, but also to I think you mentioned in some still water over in Europe moving to the U.S., and I believe you have a key customer there that is relatively small but seen pretty strong growth rates. So energy costs have risen very significantly as a proportion of household income. 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. No, absolutely. 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. And we always said, for us, it was a sort of mid-decade opportunity. 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. 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. Shipments for the quarter grew by 2% on the prior year. Aluminum can manufacturing means that our products are infinitely recyclable, serving as a model for environmental excellence and a circular economy. 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. Look, I think we've signaled along that the dividend is demonstrating the cash-generative nature of the business. On the normal PPI resets, typically, we don't see a negative in our costs because of labor and some other cost elements. 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. More. Summers at MIC: Be Careful in the Stock Market, 2 Undervalued Stocks From the Morningstar Wide Moat Focus Index, Maybe 2022 Was the Start of the Return to Normal, Aswath Damodaran Says, First-Quarter Returns Positive Despite Banking Crisis and Fears of Recession, The Best iShares ETFs and BlackRock Funds, 20 Best Healthcare Companies to Invest In, Transparency is our policy. 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. 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. You can get your beverage container recycling refunds on a per-container basis instead of by weight. 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. 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. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to: (i) the risk that the proposed Business Combination may not be completed in a timely manner or at all, which may adversely affect the price of Gores Holdings Vs or Ardaghs securities; (ii) the risk that the proposed Business Combination may not be completed by Gores Holdings Vs business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by Gores Holdings V; (iii) the failure to satisfy the conditions to the consummation of the proposed Business Combination, including the approval of the proposed Business Combination by Gores Holdings Vs stockholders, and the satisfaction of the minimum trust account amount following redemptions by Gores Holdings Vs public stockholders; (iv) the effect of the announcement or pendency of the proposed Business Combination on Ardaghs or AMPs business relationships, performance, and business generally; (v) risks that the proposed Business Combination disrupts current plans of Ardagh or AMP and potential difficulties in Ardagh or AMP employee retention as a result of the proposed Business Combination; (vi) the outcome of any legal proceedings that may be instituted against Gores Holdings V or Ardagh related to the proposed Business Combination; (vii) the ability to maintain, prior to the closing of the proposed Business Combination, the listing of Gores Holdings Vs securities on the NASDAQ, and, following the closing of the proposed Business Combination, AMPs shares on the NYSE; (viii) the price of Gores Holdings Vs securities prior to the closing of the proposed Business Combination, and AMPs shares after the closing of the proposed business combination, including as a result of volatility resulting from changes in the competitive and highly regulated industries in which AMP plans to operate, variations in performance across competitors, changes in laws and regulations affecting AMPs business and changes in the combined capital structure; and (ix) AMPs ability to implement business plans, forecasts, and other expectations after the closing of the proposed Business Combination, and identify and realize additional opportunities. George, thank you. So effectively, in Q2 last year, you had the Brazil reopening, which was a volume coming in the offseason from transitioning out of COVID, which gave a very unusual offseason pattern. 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. 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. And returnable systems then eventually do collapse because they lose scale. 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. The entire sector is on fire as supply cannot keep up with the existing demand and expected demand. 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 Metal Packaging (AMP) is a leading global supplier of infinitely recyclable, sustainable, metal beverage cans and ends to brand owners. Having made these opening remarks, we'll now proceed to take any questions that you may have. 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. 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. 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. You have accelerated improvement in PPI recapture or mechanisms yet were down year-on-year in EBITDA 2Q versus 2Q last year. Contact Customer Service at: +1-800-323-3401, Ardagh Metal Packaging S.A., 56, rue Charles Martel, L-2134 Luxembourg, LuxembourgR.C.S. So that's why we still think it's a low single to mid-market this year. You can update your preferences by clicking the "Cookie Policy" link at the bottom of any page on our website. * 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). This document does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. We remain in close dialogue with the customer who continues to trade through the process. Revenue in the Americas in the first quarter . From Wells Fargo Securities, we will take the next question from Gabe Hajde. 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. As previously indicated, our revised growth investment plans are well advanced, and cash outflows comprised the finishing of projects already underway. Ardagh Metal Packaging operates 24 production facilities in nine. Anthony. 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. They are infinitely recyclable and contain an average of approximately 70% recycled content. I think that they've got some firepower particularly as the LME comes off, they can actually do some promotional activity without actually damaging margin. Glass packaging protects its content and enhances a brands appeal. And so I'm curious if you can explain to us just from a, I guess, short-term/long-term perspective. 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. In terms of the other players, I think most of them did get some degree of contractual coverage on their investments. We remain disciplined in our capacity management and with our growth investments completing in 2023, the business is well positioned both to capture the positive secular growth opportunity for the sustainable beverage can and drive a meaningful uplift in cash generation. Gores strategy is to identify and complete business combinations with market leading companies with strong equity stories that will benefit from the growth capital of the public equity markets and be enhanced by the experience and expertise of Gores long history and track record of investing in and operating businesses for over 35 years. Dow Jones Industrial Average, S&P 500, Nasdaq, and Morningstar Index (Market Barometer) quotes are real-time. Director of Forming Operations - Food & Spirits. 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. So I think that's where there is some softness. 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. And I think it just will depend a lot on which customers and which segments you're in. That will conclude today's conference call. In light of our resilient start to the year, we are reaffirming our full year guidance. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address. Then that gets us into a very sustainable position for funding the dividend. I think the price lever is at that limit. 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. There's been a lot of inflation there over the last couple of years. The future were creating for Ardagh is built around our three core values of Trust, Teamwork and Excellence. Our materials play a key role in the circular economy. Performance was, however, ahead of expectations, reflecting our overall strong input cost recovery. Revenue increased by 1% to $645m in the three months ended 31 March 2023, compared to $638m in the same period last year, primarily reflecting favourable volume/mix impacts. So look, I think it's unchanged from the full year. Is it fair to assume now that given what you're seeing, maybe there's a little bit of optimism that Ardagh can also kind of start to approach into the mid-single digits? And what's the update on progress if those initiatives have been part of your strategy? 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. 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. 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. 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. To the extent that you have sort of implemented what I'll call the pass-through model for energy and other inflationary components into your contracts for that geography, should we then think about, all else equal, if '23, there's deflation relative to '22 that you would be passing that on to your customers in '24? And maybe you can just characterize what you're seeing in Europe from a demand perspective. We may use it to: To learn more about how we handle and protect your data, visit our privacy center. 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. 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. [Operator Instructions]. Gores Holdings V, Ardagh and AMP and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from Gores Holdings Vs stockholders in connection with the proposed Business Combination. This reduces our impact on the environment, and improves the communities in which we do business. And then, finally, they're not just saying to us, right? So we completed all that activity last year in terms of getting to more direct energy pass-through mechanisms with customers, particularly large customers. This concludes the brownfield investments under our initial growth investment program. A subsidiary of sustainable packaging business Ardagh Group, AMP is a leading industry player across Europe and the Americas with innovative production capabilities. Yes. The metal can also shields against sunlight, providing impeccable ingredient protection assuring desired taste profiles. Thank you for your participation. Which Will Outperform: U.S. Stocks or International? We trace our roots all the way back to the Irish Glass Bottle Company, founded in 1932. . Q1 2023 Ardagh Metal Packaging SA Earnings Call. We will continue to closely monitor demand conditions and balance our capacity in a disciplined manner. John Sheehan 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.. Yes. The document includes detailed information on the manufacturers and suppliers and their products, along with contact details, to inform your purchasing decision. Thanks, David. of our resilient start to the year, we are reaffirming our full year guidance. I'll take the first and hand over to David on the working capital. 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. Ardagh Group is aglobal supplier of sustainable, value added, infinitely recyclable, metal and glass packaging for brand owners around the world. Luxembourg B 251465, Modern Slavery Statement About Team NEO Due to disciplined cost stewardship, actions to improve manufacturing efficiency and stronger input cost recovery. Yes. 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. This release may contain certain financial measures such as Adjusted EBITDA, Adjusted operating cash flow, Adjusted free cash flow, net debt and ratios relating thereto that are not calculated in accordance with IFRS. Why the drag on working capital, why you expect to get it back to the source of $100 million, I think you said for the year? We haven't guided on it, but I think that some of the market numbers we've seen are in the right order. From Bank of America, we will take our next question from George Staphos. So regarding your CapEx guidance for '23, your guide is $300 million, and your cash flow generation alleviation depends a lot on CapEx cuts. 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. The conference call will be accompanied by a detailed investor presentation. Metal is a permanent material, meaning it can be infinitely recycled without any loss of quality. Maintaining independence and editorial freedom is essential to our mission of empowering investor success. Investors Thanks. 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. We hedged out all our risk for this year, last year and confirm with customers that they were comfortable with that position, which is higher than spot because of the unexpected drop in the energy market. Terms of Service apply. 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. I was going to hit it later. But the fundamentals are that these are very promotional categories. 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. And the third element is that our program included a significant proportion of seltzers, which had a very strong mix impact in our numbers. Is there ability for some shift there? Please go ahead. We have local experts who understand your customers needs and who can speak your language. Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. Ardagh Metal Packaging is the third-largest producer of aluminum beverage cans in the world. 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. You can see some EBITDA growth into next year and then the BGI drop. That's helpful. The point I'd make is the market is putting a very high return on that. These forward-looking statements generally are identified by the words believe, project, expect, anticipate, estimate, intend, strategy, future, forecast, opportunity, plan, may, should, will, would, will be, will continue, will likely result, and similar expressions (including the negative versions of such words or expressions). 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. We delivered a solid performance in the first quarter and met our market guidance. 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. 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. The assumptions and estimates underlying such projected financial information are inherently uncertain and are subject to a wide variety of significant business, economic, competitive and other risks and uncertainties that could cause actual results to differ materially from those contained in the prospective financial information. 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. 347 S Stimson Ave. City Of Industry, CA 91744. Verify your identity, personalize the content you receive, or create and administer your account. 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.

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