It appears that a couple of years ago when the market was really tight, pricing was achievable. Ardagh Metal Packaging (NYSE: AMBP ), is a leading global supplier of infinitely recyclable, sustainable, metal beverage cans and ends to brand owners. We believe that's a very strong space for the cans to grow share, currently very underpenetrated and lots of room for healthier options there as well. And we can see and the beginnings of that coming across into the sports drink space. Ardagh Building Beverage Can and End Facility in Huron And therefore, you'll see in our results and our peers' results probably some different results linked to customer mix and which customers you're in by region. A global supplier in sustainable packaging solutions - Ardagh Group Beverage Cans, Metal: Except Beer (1) Can Lids and Ends, Metal (2) Can Manufacturers (24) . We remain focused on continuous improvement in all aspects of our business to deliver long-term, sustainable success for our stakeholders. 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. And overall, we think the European market is pretty resilient on the can side, very strong sustainability tailwind still, and again, good innovation coming into the can. Management of Ardagh and Gores Holdings V will host an investor conference call on February 23, 2021 at 9:00 a.m. EST / 6:00 a.m. PST to discuss the proposed business combination. Ardagh Metal Packaging Invests in NOMOQ - Yahoo Finance Obviously, there's still softness in key areas. Ardagh will retain an approximately 80% stake in AMP and receive up to $3.4 billion in cash in the transactions. 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. And then, finally, they're not just saying to us, right? So the European business takes a step up from here. In 2020, we launched our new sustainability strategy to reinforce our commitment to the circular economy. But the fundamentals are that these are very promotional categories. A subsidiary of sustainable packaging business Ardagh Group, AMP is a leading industry player across Europe and the Americas with innovative production capabilities. We're encouraged by the early signs of a return to promotional activity and the easing of customer input cost inflation, which supports our expectations of improved H2 volumes. Ardagh Metal Packaging (AMP) is a leading global supplier of infinitely recyclable, sustainable, metal beverage cans and ends to brand owners. But that means that by Q2, you should see the working capital rightsizing for raw materials relative to payables as we go through that journey. Thank you. View original content to download multimedia:https://www.prnewswire.com/news-releases/ardagh-metal-packaging-sa--first-quarter-2023-results-301809466.html. Ardagh Group So that big step-down is what then allows us to grow, as we say, investment-free into our capacity. 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. I mean that category, though, overall, I think, is beginning to move. 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. So energy costs have risen very significantly as a proportion of household income. I think that the existing players in the market is probably around flat. Metal is a permanent material, meaning it can be infinitely recycled without any loss of quality. It should not be relied upon as being indicative of future results. And so you'd expect to see overall average pricing moderating relative to wage growth and other factors. And we always said, for us, it was a sort of mid-decade opportunity. * Approximately 75% of aluminum . 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. ", Bridge of 2022 to 2023 Revenue and Adjusted EBITDA. The future were creating for Ardagh is built around our three core values of Trust, Teamwork and Excellence. LUXEMBOURG, April 27, 2023 /PRNewswire/ -- Ardagh Metal Packaging S.A. (NYSE: AMBP) today announced results for the first quarter ended March 31, 2023. Directions Advertisement. Gores Holdings V completed its initial public offering in August 2020, raising approximately $525 million in cash proceeds. More. Investors Website. Credit: Shutterstock. 2. Ardagh Metal Packaging (NYSE: AMBP) is a leading supplier of sustainable and infinitely recyclable beverage cans globally. We provide a platform for our authors to report on investments fairly, accurately, and from the investors point of view. We are committed to conducting our activities with the highest standards of integrity and business practice in dealing with all of our stakeholders. Our investments in Huron, Ohio, Winston-Salem in North Carolina and Olive Branch, Mississippi position us favorably for future growth. So how are you thinking about achieving maybe the '21, sorry, the '24 numbers around $1.1 billion of EBITDA? We each share a common vision: to be the preferred metal beverage packaging partner to brand owners around the world. I guess first question is on Europe. So I think we'll again see some volatility in results across the can makers. (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. Under the Social pillar of our sustainability strategy, Ardagh committed to invest approximately $50 million from 2021-2032 in the local communities in which our U.S. facilities are located. We build upon the inherent environmental advantages of metal beverage cans by clearly supporting our customers sustainability platforms. And then South America, it did grow the market, high single digits, but against a very weak comparator of Q1 '22. 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. I'll take the first and hand over to David on the working capital. So I think North America, this 83% innovation number is really playing through into the market, and we're seeing that in the results. 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. Ardagh Metal Packaging launches new can size to support beverage brands We're not disagreeing with that. Our performance in North America, with good volume growth, and Europe with improved cost passthroughs were both ahead of expectations. 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. The proxy statement/prospectus will contain important information about the proposed business combination and the other matters to be voted upon at a meeting of Gores Holdings Vs stockholders to be held to approve the proposed business combination contemplated by the Business Combination Agreement and other matters. 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. Get in touch with us today and we can help you sustainably package your products. Whereas as you say, I think there's sufficient capacity on the can side at the moment that carries through a couple of years of good growth now, particularly with the investments we've done in the one way completing this year. We also respect individual opinionsthey represent the unvarnished thinking of our people and exacting analysis of our research processes. At March 31, 2023, the Group's net debt and available liquidity was as follows: Senior Secured Green and Senior Green Notes, Cash, cash equivalents and restricted cash, Derivative financial instruments used to hedge foreign currency and interest rate risk, Reconciliation of (loss)/profit for the period to Adjusted profit, (Loss)/profit for the period as presented in the income statement, (Loss)/profit for the period used in calculating earnings per share, Weighted average number of ordinary shares, Reconciliation of (loss)/profit for the period to Adjusted EBITDA, Reconciliation of Adjusted EBITDA to Adjusted operating cash flow and Adjusted free cash flow, Adjusted free cash flow - pre Growth Investment capital expenditure, Adjusted free cash flow - post Growth Investment capital expenditure. So that's how we see the 3 markets at the moment. And then in terms of why we're confident in timing through the rest of the year, I think that we've had signals from customers that they're looking into additional promotions for Q2 and beyond. So there's also some one-off effects in Europe. Default; Distance; Rating; Name (A - Z) Sponsored Links. 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 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. Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. 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. Ardagh Metal Packaging (AMP) is a leading global supplier of sustainable, infinitely recyclable, metal beverage cans to brand owners. Manufacturing Engineer Intern - Career Center | University of Southern Can you give us a rough bridge, David, in terms of how we go from roughly $180 to the $170 2Q versus 2Q? Appreciate that. They've chosen to kind of accelerate their glass investment, and then you guys have sort of delayed the greenfield investment that you're going to make in cans down in Brazil. 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. Luxembourg B160804, Modern Slavery Statement Ardagh Group is a leading global supplier of value-added, infinitely-recyclable, metal and glass packaging solutions. 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.
Govan Emerald Celtic Supporters Club, Bbc Radio Lincolnshire Presenters, Tec To Mapei Grout Color Conversion, 25 Guineas In 1966 Worth Today, Articles A