Ardagh Metal Packaging (AMP) is a leading global supplier of infinitely recyclable, sustainable, metal beverage cans and ends to brand owners. please click here for our 2021 Sustainability Report. Consumer demand remained resilient in the quarter led by carbonated soft drinks. So if that's the case, how much lower can your CapEx go? 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. Ardagh is pleased to announce that its acquisition of Consol Holdings Proprietary Limited, the leading producer of glass packaging on the African continent, has completed. 16 countries, employing more than 21,000 people with sales of approximately $10bn. There are many reasons to choose Ardagh and beverage cans. 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. For more information, please visit www.gores.com. We've got some still water filling that's moved back to the U.S. In line with our previous guidance, we anticipate an uplift in EBITDA generation into the second half of the year as demand begins to normalize in both markets. A subsidiary of sustainable packaging business Ardagh Group, AMP is a leading industry player across Europe and the Americas with innovative production capabilities. Our expectation for industry growth in 2023 supported by positive secular tailwinds is for a low single-digit percentage growth in the Americas and a low to mid-single-digit percentage growth in Europe. 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. 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. If you are a customer of Ardagh Metal Beverage and do not yet have a user ID and password for this portal, please register here: Register; Contact. And maybe you can just characterize what you're seeing in Europe from a demand perspective. 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. Our next question comes from Kyle White from Deutsche Bank. So we have some payments this year. Ardagh Metal Packaging Usa Inc. 936 Barracuda Street. The company will invest at least $195 million to expand its current beverage can metal manufacturing facility in Winston-Salem. Our next question is from George Staphos from Bank of America. Global beverage can shipments grew by 3% in the quarter, driven by growth of 4% in Americas and 2% in Europe. Ardagh Metal Packaging Became A Dividend Stock Overnight (NYSE:AMBP [Operator Instructions]. Can you just talk about how you think that can impact the market here in the near term? Perfect. 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. Having made these opening remarks, we'll now proceed to take any questions that you may have. Metal can packaging offers versatility, unlimiteddesign and brand building opportunities like no other material and is used across the world in many market sectors. [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. So there's also some one-off effects in Europe. We each share a common vision: to be the preferred metal beverage packaging partner to brand owners around the world. Ardagh Metal Beverage USA Inc - MapQuest Ardagh Group is a global supplier of infinitely recyclable metal and glass packaging for the world's leading brands. They are infinitely recyclable and contain an average of approximately 70% recycled content. There's just some ups and downs and I think that goes back to the fact that the market remains a little bit volatile. No. 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. Director of Forming Operations - Food & Spirits. 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. Ardagh Metal Packaging is the third-largest producer of aluminum beverage cans in the world. Under no circumstances should the inclusion of such forward-looking statements in this release be regarded as a representation or warranty by us or any other person with respect to the achievement of results set out in such statements or that the underlying assumptions used will in fact be the case. Ardagh Metal Packaging operates 24 production facilities in nine. Very concerned Slightly concerned Neither concerned nor unconcerned Not very concerned Not concerned 0% GlobalData GlobalData 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. For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of MiFID II; or (ii) a customer within the meaning of Directive (EU) 2016/97, where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II; or (iii) not a qualified investor as defined in Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 (this regulation together with any implementing measures in any member state, the Prospectus Regulation). 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. And then if there's any sort of trigger date for contract resets for PPI or any kind of mechanism like that, that we should keep in mind as we kind of think about the rest of the year? The people that make up Ardagh share much more than a strong brand and an excellent reputation. To date, Alec Gores and affiliates of The Gores Group have announced and completed six business combinations representing over $27 billion in transaction value. 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. Moving now to our financial position. Fullyarn Packaging USA Inc. Packaging Materials. Therefore, you are cautioned not to place undue reliance on these forward-looking statements. Ardagh Group S.A., 56, rue Charles Martel, L-2134 Luxembourg.R.C.S. And I guess you'll talk about the regional trends maybe in some of the other questions. Before moving to your questions, we will first provide some introductory remarks around AMP's performance and outlook. Our materials play a key role in the circular economy. What makes you confident your potential to realize this $300 million CapEx by year-end? And just one last one. We remain focused on continuous improvement in all aspects of our business to deliver long-term, sustainable success for our stakeholders. For inquiries regarding The Gores Group and affiliates: Jennifer Kwon Chou But the fundamentals are that these are very promotional categories. of our resilient start to the year, we are reaffirming our full year guidance. In light of our resilient start to the year, we are reaffirming our full year guidance. 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. So look, overall, it is soft. Thanks, George. 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. Claim this business (419) 355-8222. Performance was, however, ahead of expectations, reflecting our overall strong input cost recovery. So just to clarify that whether it's kind of No, I certainly would say that. These investments support the impact of high-quality teachers in science, technology, engineering and mathematics (STEM) disciplines to inspire students STEM understanding and interest. pwalsh@murraygroup.ie 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. 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. And that linked to their overall market weakness. 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. 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. To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research. When are we on path to maybe see that? Please go ahead. You have accelerated improvement in PPI recapture or mechanisms yet were down year-on-year in EBITDA 2Q versus 2Q last year. Ardagh Group S.A. ("Ardagh") (NYSE: ARD), a global supplier of infinitely-recyclable metal beverage and glass packaging for the world's leading brands As we step through that, of course, you get the benefit to raw materials, but you get the step-down in payables. 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. LUXEMBOURG, April 27, 2023 /PRNewswire/ -- Ardagh Metal Packaging S.A. (NYSE: AMBP) today announced results for the first quarter ended March 31, 2023. Unaudited Consolidated Condensed Income Statement for the three months ended March 31, 2023 and 2022, Sales, general and administration expenses, Unaudited Consolidated Condensed Statement of Financial Position. Strengths across package variety, the environment and customer business. Adjusted EBITDA of $130 million was down 8% on the prior year on a constant currency basis. Ardagh is a global supplier of sustainable, infinitely recyclable metal beverage cans to brand owners. And therefore, there's a very meaningful step-down into 2024. Please use the . So I think we're well placed for the growth that's about to come. Founded in 1987 by Alec Gores, The Gores Group is a global investment firm focused on partnering with differentiated businesses that can benefit from the firm's extensive industry knowledge and decades long experience. 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. The projected financial information contained in this press release constitutes forward-looking information. 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. We delivered a solid performance in the first quarter and met our market guidance. Ardagh Group | LinkedIn 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. Got it. Sure. You mentioned the promotional activity. 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. Thanks. We're seeing some crosscurrents, some categories are weaker, but then and maybe related to the consumer.