I'd say you put those 3 components together, you're at or very close to covering the dividend mix. But just switching to the dividend, I think you referenced the sustainability of the dividend. Sure. Talk to an Ardagh customer sales representative about how we can support the achievement of your brand and business objectives. We're 2% Q1, and we could tick up a little bit from there. Ardagh Metal Packaging operates 24 production facilities in nine . Oliver, the full year guidance, I think, implies a pretty strong second half earnings inflection, and I'm just wondering if you can speak to that. Ardagh Metal Beverage USA Inc. Attorney/Law Firm Details Plaintiff Attorneys Mehrdad Bokhour Attorney at Bokhour Law Group, P.C. 2. Following any such transaction involving such consideration, Ardaghs ownership in AMP would decrease to below 80%, with a corresponding increase in the public float of AMP. About Ardagh Metal Packaging AMP will hold Ardagh's metal packaging business, which is a leading supplier of beverage cans globally, with a particular focus on The Americas and Europe. 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. So when you think about the IPO trajectory, obviously, there's been some changes there. You've got different players performing differently. So I'm just mentioning it, [indiscernible] is more kind of, that's a one-off example of some things happening in the first quarter, we're not picking up in the U.S. because of the geographical footprint, but it is actually them planning -- they're planning to launch in Europe. Claim this business (419) 355-8222. 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. Cookie Policy | Privacy Statement | Terms&Conditions. I think we said at the full year, and so we can repeat, there are 3 elements that mean that we won't get to 1.1 without further action those three elements of foreign exchange, so that can obviously move. 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 Packaging (AMP) is a leading global supplier of sustainable, infinitely recyclable, metal beverage cans to brand owners. And so we don't see that impacting us because those are known events in the near term. 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. 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. And Ollie, I'll take that at surface level, and that's great. You may now disconnect. Given the Q1 CapEx, how much above the average targeted quarterly level? The people that make up Ardagh share much more than a strong brand and an excellent reputation. This press release is not a solicitation of a proxy from any investor or securityholder. 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. Thanks. 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. So let's go region by region. There's been a lot of inflation there over the last couple of years. 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. Brazil, we'll wait to hear what you say, but I appreciate the thoughts there. 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. So that big step-down is what then allows us to grow, as we say, investment-free into our capacity. Ardagh Group is a global supplier of sustainable, infinitely recyclable, metal and glass packaging for brand owners around the world. It should not be relied upon as being indicative of future results. And that linked to their overall market weakness. Thanks. And just so on that note then, does your European business take a step down from here? 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. At this time, I would like to turn the conference over to Mr. Stephen Lyons, Ardagh Metal Packaging Investor Relations. 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? 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. My last one, I'll turn it over. And then I think what drove the shift out of returnable and has driven it in all markets as GDP per capita rises is that as consumers get richer, they don't like returnable and retailers and mass retailers, in particular, that grow with economic development also particularly don't like returnable. 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. Website. And maybe just to clarify on a couple of those points. I will now turn the call over to Oliver Graham. We see as we drop off the capital expenditure into the back half of this year and into next year that, that it fits very well with our proposition. * 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). Is that what you're seeing as well or maybe just comment overall on the outlook there. 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. Ardagh has reaffirmed its full-year guidance, with shipment growth of mid to high single digits. Would you attribute that to the new entrants or just kind of the overall supply-demand balance in the North American market right now? (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. Thanks. Ardagh Metal Packaging Usa Inc. 936 Barracuda Street. North America grew by 5%, and more than offset marginally . 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 -. LUXEMBOURG, Nov. 19, 2021 /PRNewswire/ -- Ardagh Metal Packaging (AMP) announced today that it plans to build a new state-of-the-art $200 million beverage can plant in . innovation, quality and customer service, backed by investment in our people and processes, underpinseverything we do. Total liquidity of $495 million at March 31, 2023. Earnings Webcast and Conference Call Details. The Company has an entrepreneurial owner-manager culture that has led to a successful transformation underpinned by powerful industry dynamics. The entire sector is on fire as supply cannot keep up with the existing demand and expected demand. Ardagh Metal Packaging (AMP) is a leading global supplier of infinitely recyclable, sustainable, metal beverage cans and ends to brand owners. And so the guide we gave at the full year, which is we are expecting to over recover on inflation over the course of the year relative to our cost inflation '22 into '23, that guide remains intact. Luxembourg B160804, Modern Slavery Statement Therefore, you are cautioned not to place undue reliance on these forward-looking statements. No, absolutely. Our investments in Huron, Ohio, Winston-Salem in North Carolina and Olive Branch, Mississippi position us favorably for future growth. Thank you for your participation. 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. We're seeing some crosscurrents, some categories are weaker, but then and maybe related to the consumer. Metal is a permanent material, meaning it can be infinitely recycled without any loss of quality. There is some acceleration in volume received in our guidance in the second half, and we can talk more about the markets and why we've got that assumed. 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. Directions Advertisement. Most recently worked as the Quality Manager for Ardagh Metal Beverage, in Chicago, IL. Look, I think we've signaled along that the dividend is demonstrating the cash-generative nature of the business. Ardagh Group is a global supplier of sustainable, value added, infinitely recyclable, metal and glass packaging for brand owners around the world. The leading site for news and procurement in the packaging industry. 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. AMP is a global leader in the supply of sustainable and infinitely-recyclable beverage cans. It appears we have no further questions at this time. Cash outflow in the period which reflects seasonality and a first half weighting of unchanged planned growth capex was marginally ahead of expectations. This supports our expectation for a stronger second half demand outlook. Ardagh Group 3.2. So either brand, branded economy segment or own label performing extremely strongly. Or are we operating at a high level? Contents are protected from air and light, with their distinct flavors preserved, Cans offer 360-degree branding opportunities. Ardagh Group is aglobal supplier of sustainable, value added, infinitely recyclable, metal and glass packaging for brand owners around the world. 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. We had a decent start. Please. Ardagh Metal Packaging (AMP) is a leading global supplier of infinitely recyclable, sustainable, metal beverage cans and ends to brand owners. 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. The document includes detailed information on the manufacturers and suppliers and their products, along with contact details, to inform your purchasing decision. 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. Terms of Service apply. Fixed cost under absorption net of our mitigating curtailment actions remains a headwind to our performance. Visit our Privacy Policy for more information about our services, how GlobalData may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
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