ardagh metal beverage
And that's what we thought when we gave our full year guidance, and our opinion on that hasn't changed. So look, I mean, our investment profile is front-loaded in terms of, as we said in the opening remarks, we are finishing off projects largely that have been crystallized, started last year and under flowing through. Additional information about the transactions, including a copy of the business combination agreement and investor presentation, will be provided in a Current Report on Form 8-K to be filed by Gores Holdings V and in a report on Form 6-K to be filed by Ardagh with the U.S. Securities and Exchange Commission and available at www.sec.gov. Hi, Arun. Turning to our sustainability agenda. 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. George, thank you. Ardagh Group also holds a 42% interest in Trivium Packaging, a leading supplier of sustainable metal packaging Got it. But as I said, I think it's really at the margin relative to the overall volume being shipped in the market. In Brazil, first quarter shipments declined modestly, underperforming the high single-digit growth in the market due to customer mix effects as well as some customer destocking. Well, we said at the full year, we're curtailing over $1 billion in Europe this year and over $2 billion in North America. This supports our expectation for a stronger second half demand outlook. I appreciate that. But the fundamentals are that these are very promotional categories. 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. Our bonds have been issued on fixed rate terms and not mature before 2027. This concludes the brownfield investments under our initial growth investment program. 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. Ardagh Group is a global supplier of infinitely recyclable metal and glass packaging for the world's leading brands. Pat Walsh No. As that moves to the U.S., are you going to get that business, do you need to make any investments for it? 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. I had a question, two actually, on Brazil. * Approximately 75% of aluminum . Ardagh Metal Beverage USA Inc. 2145 Cedar St Fremont OH 43420 (419) 355-8222. 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. As we step through that, of course, you get the benefit to raw materials, but you get the step-down in payables. Ardagh Metal Packaging operates 24 production facilities in nine . Or are we operating at a high level? 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. Weil, Gotshal & Manges, LLP and Loyens & Loeff N.V. are acting as legal advisors to Gores Holdings V. Citigroup is acting as exclusive financial advisor to Ardagh and is acting as joint lead placement agent on the PIPE. San Pedro, CA (310) 519-2400. In the second quarter, we will complete the addition of further capacity in our La Ciotat plant in Southern France, and our intention remains to close one of the legacy steel lines in Weienthurm, Germany during the year. 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? We have local experts who understand your customers needs and who can speak your language. You can see some EBITDA growth into next year and then the BGI drop. Ardagh Metal Packaging launches new can size to support beverage brands And returnable systems then eventually do collapse because they lose scale. Ardaghs disciplined cost stewardship, actions to improve manufacturing efficiency, and stronger input cost recovery led to a solid start to the year. Through PLTW, we plan to deliver positive results for more than 2,000 schools and 500,000 PreK-12 students in our local communities. Europes Revenue decreased by 3% to $486m in the three months ended 31 March 2023, compared to $499m in the same period last year. A subsidiary of sustainable packaging business Ardagh Group, AMP is a leading industry player across Europe, North America and Brazil with innovative production capabilities. 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. No, absolutely. You may now disconnect. Ardagh operates 56 metal and glass production facilities in 12 countries, employing more than 16,000 people with sales of approximately $7 billion. 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. Most recently worked as the Quality Manager for Ardagh Metal Beverage, in Chicago, IL. We sell different types of products and services to both investment professionals and individual investors. Yes. From Bank of America, we will take our next question from George Staphos. Ardagh Metal Packaging (NYSE: AMBP ), is a leading global supplier of infinitely recyclable, sustainable, metal beverage cans and ends to brand owners. 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. Actual results could vary materially from such statements. Ardagh Group is a global leader in metal and glass packaging solutions, producing packaging for the world's leading brands. On a long-term basis, to the extent that there is a transition from returnable glass to one-way packaging kind of both substrates can win in that environment from a number of units perspective. You have billboard. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. Luxembourg B160804, Modern Slavery Statement Default; Distance; Rating; Name (A - Z) Sponsored Links. And I think it just will depend a lot on which customers and which segments you're in. 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. Ardagh Metal Packaging S.A. (NYSE: AMBP) today announced results for the first quarter ended March 31, 2023. 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. Gores Holdings V and The Gores Group are separate entities with separate management, although there is overlap in size and industry of target acquisition and personnel involved. So look, I think there's a couple of things in the full year guide. Brazil, we'll wait to hear what you say, but I appreciate the thoughts there. Look, I think we've signaled along that the dividend is demonstrating the cash-generative nature of the business. North America grew by 5%, and more than offset marginally softer shipments in Brazil. FRS Facility Detail Report | Envirofacts | US EPA Sure. 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. So look, I think on this promotional question, there's a couple of fundamentals that we should touch on, and then we should talk about the timing of it returning. I mean, George, it's true that you get some share shifts in some markets over time from one way to cans, particularly in North America. Cash outflow in the period which reflects seasonality and a first half weighting of unchanged planned growth capex was marginally ahead of expectations. Ardagh Building Beverage Can and End Facility in Huron Sure, Jay. 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. In fact, it's more than minus 10%. Ardagh Metal Packaging S.A. (AMBP) Q1 2023 Earnings Conference Call April 27, 2023 9:00 AM ET. We'll now move to Arun Viswanathan from RBC. The conference call will be accompanied by a detailed investor presentation. 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.). I was going to hit it later. You mentioned the promotional activity. . And then the high-level question, yourself and some of your peers are taking actions to kind of curtail volumes and balance the market out, but there are still some new entrants who are talking about adding some pretty meaningful capacity. Cash outflow in the period beat our expectation but reflected the usual seasonality in working capital with a working capital outflow in the quarter of $346 million. We're not letting any of the bank on it, but we're still excited about the still water category. I think you said Europe looking just to mid-single digit. But in any event, perhaps we want to solve that on this call, but that's the only thing I'd point out there. But just with that additional availability, clearly, some of that is coming on to the market. Thank you for your participation. 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. So there's some good space for additional innovation still to come. Ardagh Metal Packaging operates 24 production facilities in nine. Nov 19, 2021, 08:00 ET. The hard seltzer category accounted for 8% of North America shipments in the quarter, with the segment remaining under pressure. But as I say, all of those activities were completed last year. And I guess you'll talk about the regional trends maybe in some of the other questions.
ardagh metal beverage