ardagh metal beverage

The consistent pursuit of market-leading innovation, quality and customer service, backed by investment in our people and processes, underpins everything we do. Ardagh Metal Packaging Usa Inc. 936 Barracuda Street. So look, I think there's a couple of things in the full year guide. Please go ahead. But the fundamentals are that these are very promotional categories. As the only pure-play beverage can company, AMP products touch billions of consumers worldwide. Yes. And we don't see that happening this year. So before moving to take your questions, I'd just like to recap on AMP's performance and key messages. 1901 Avenue Of The Stars, Suite 450 Los Angeles, CA 90067 Anwar Dillon-Thomas Burton Attorney at Bokhour Law Group 1901 Avenue Of The Stars, Suite 450 Los Angeles, CA 90067 Defendant Attorneys Sabrina Layne Shadi So the quick answer to the quick question was, yes. You should carefully consider the foregoing factors and the other risks and uncertainties that will be described in the Definitive Proxy Statement, including those under Risk Factors therein, and other documents filed by Gores Holdings V, Ardagh or AMP from time to time with the SEC. Cookie Policy | Privacy Statement | Terms&Conditions. Yes. On a constant currency basis, revenue increased by 2%, mainly reflecting favorable volume/mix effects and the pass through to customers of higher input costs. 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. Metal beverage cans are one of the most recycled drinks package in the world, contributing to a circular economy.. Visual effects across labels and ends to positively influence consumer purchase decisions and strengthen retail price points. As mentioned, our great investment plan is well advanced, which strongly supports earnings and cash flow growth, lowering net leverage back to 2022 levels by the end of the year and with a meaningful reduction anticipated in 2024. Okay. 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. Yes. It appears we have no further questions at this time. We operate 65 metal and glass production facilities in 16 countries, employing more than 20,000 people. Today's conference is being recorded. And that explains the entirety of the bridge. The document includes detailed information on the manufacturers and suppliers and their products, along with contact details, to inform your purchasing decision. In connection with the proposed transactions contemplated by the Business Combination Agreement (the Business Combination), (i) AMP is expected to file a registration statement on Form F-4 with the SEC that will constitute a prospectus of AMP and include a proxy statement of Gores Holdings V (the Registration Statement) and (ii) Gores Holdings V intends to file with the SEC a definitive proxy statement (the Definitive Proxy Statement) in connection with the proposed business combination contemplated by the Business Combination Agreement and will mail the proxy statement/prospectus and other relevant documents to its stockholders. 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. * Approximately 75% of aluminum . Can you give us a rough bridge, David, in terms of how we go from roughly $180 to the $170 2Q versus 2Q? So the European business takes a step up from here. So if the beverage companies do increase their promotional activity, does that result in maybe some give back of price or especially with considering the deflation. Ardaghs disciplined cost stewardship, actions to improve manufacturing efficiency, and stronger input cost recovery led to a solid start to the year. One of our customers in Brazil entered a judicial reorganization process in the period. This concludes the brownfield investments under our initial growth investment program. 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. We offer the latest innovations across such areas as decoration, label graphics, end design, and more. So for '23, there's no impact of the falling energy because we're fully hedged, and the big customers were comfortable with the decisions we took there and accepted those into the '23 volumes. On a constant currency basis, revenue increased by 3%, principally due to the pass through of higher input costs, partly offset by negative volume/mix effects (including the seasonal rebalancing of the contract asset margin). Metal packaging is universally recognised for its protective qualities, versatility and environmental credentials. Gear advertisements and other marketing efforts towards your interests. 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. Europes Revenue decreased by 3% to $486m in the three months ended 31 March 2023, compared to $499m in the same period last year. We definitely had some brighter spots with some customers recovering, but we also had some weaker spots, especially as we had a very strong first half with a couple of customers last year. Due to disciplined cost stewardship, actions to improve manufacturing efficiency and stronger input cost recovery. Okay. Commitment alongside our global supply chain partners to the Aluminium Forward 2030 coalition and the endorsement of the Mission Possible Partnership's net zero strategy, supporting actions to achieve the industry's net zero carbon footprint ambition. 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. 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. We haven't guided to it. Our Sales team is uniquely qualified to discuss these product advantages and how Ardagh will deliver value across your entire business from design, to spec, to production and on-time delivery of the highest quality packaging in the industry. 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. Having made these opening remarks, we'll now proceed to take any questions that you may have. Ardagh operates 56 metal and glass production facilities in 12 countries, employing more than 16,000 people with sales of $7 billion. There's just some ups and downs and I think that goes back to the fact that the market remains a little bit volatile. 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 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. 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. You mentioned the promotional activity. Ardagh Metal Packaging is the third-largest producer of aluminum beverage cans in the world. Just sort of how to think about that because I think the business model now has probably changed. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. As we step through that, of course, you get the benefit to raw materials, but you get the step-down in payables. Mingfeng USA Packaging. So just anything that you can speak to in terms of one substrate winning or not in the beer category down there and then what we should be looking for in the outside world that could kind of reaccelerate that transition to one way versus returnable. We look forward to talking to you all at our Q2 results. We will now move to Jay Mayers from Goldman Sachs. Look, it's going to go very meaningfully lower. I mean clearly, nothing like last year, but a little bit volatility to the pressures on the consumer. So maybe what are you hearing in terms of their level of inventories? We are committed to investing in a future for all and we work hard to uphold our promises. Sure. Demand remains restrained by sustained higher retail pricing, but with greater resilience experience in non-alcoholic categories, which represent the majority of our North American business. Global beverage can shipments grew by 3% in the quarter, driven by growth of 4% in Americas and 2% in Europe. Please go ahead. Therefore, you are cautioned not to place undue reliance on these forward-looking statements. Ardagh Claude Marbach beverage can . And we're not giving exact numbers on any of this, but it means that it won't be '24, and it won't be at that level. 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. Consumer demand remained resilient in the quarter led by carbonated soft drinks. It's near or minus 20%, and then you've got the other growth components bridging back up. Thank you. Constantly evolving production technologies are used to ensure exciting possibilities and environmental sustainability in metal packaging for the future. I mean it's not the biggest situation. Can you just talk about how you think that can impact the market here in the near term? AMP operates 24 production facilities in nine countries, employing more than 6,300 employees and had sales of $4.7 billion in 2022. Hi, Arun. And you mentioned earlier that kind of the marginal or kind of spot can out there, there has been some pricing pressure. There's been a lot of inflation there over the last couple of years. Copyright 2023 Morningstar, Inc. All rights reserved. And overall, in Europe, I think with the actions we're taking, we're pretty balanced there. 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. We are committed to conducting our activities with the highest standards of integrity and business practice in dealing with all of our stakeholders. Ardagh Metal Packaging (NYSE: AMBP ), is a leading global supplier of infinitely recyclable, sustainable, metal beverage cans and ends to brand owners. There's a little bit of the margins on the spot market with small volumes typically to smaller players, but we don't see anything significant. And so we can't speak to what impact that's having on them and their position. In fact, it's more than minus 10%. 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. Such projected financial information is forward-looking and is for illustrative purposes only. ", Bridge of 2022 to 2023 Revenue and Adjusted EBITDA. Our performance in North America, with good volume growth, and Europe with improved cost passthroughs were both ahead of expectations. 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.). A subsidiary of sustainable packaging business Ardagh Group, AMP is a leading industry player across Europe and the Americas with innovative production capabilities. So look, I think it's unchanged from the full year. 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. And I think one of your peers talked about potential buying patterns in Europe where customers are maybe delaying a little bit of buying, maybe until we get a little bit closer into the summer season. 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. The contribution from volume mix was more than offset by an expected fixed cost absorption drag and unfavorable input cost recovery relative to some over recovery in the prior year period. So mix is important, and it can vary quite a bit month-to-month. We offer the latest innovations across such areas as decoration, label graphics, end design, and more. 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. Cash outflow in the period which reflects seasonality and a first half weighting of unchanged planned growth capex was marginally ahead of expectations. So let's go region by region. With that being said, within Brazil, what are your customers telling you in terms of their intention two years, three years from now in terms of can in one way versus glass in one way? Are they going to have a hard time kind of breaking in with the amount of contracted revenue that you feel like the industry has right now? Now potentially, the market is a little bit more balanced. We are delighted to partner with Gores Holdings V to create a NYSE-listed pure-play beverage can business of scale with impeccable ESG credentials, and we intend to remain a committed, long-term majority shareholder of AMP as it continues its growth journey., Over the past five years, our metal packaging business has grown its position as one of the worlds leading beverage can producers through our agility and foresight in tapping into emerging consumer and market trends, said Oliver Graham, CEO of AMP. Just to summarize again, we met our Q1 guidance, and we reaffirmed our full year as we see a strengthening in the demand environment and improved EBITDA recovery through the year. They are shipped and distributed economically, as they stack very efficiently. What makes you confident your potential to realize this $300 million CapEx by year-end? And as you put those numbers together with some EBITDA growth, that's why you can see we're very confident in the sustainability of the dividend. 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. 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. We'll now move to Arun Viswanathan from RBC. So we completed all that activity last year in terms of getting to more direct energy pass-through mechanisms with customers, particularly large customers. Metal offers versatility, unlimiteddesign and brand building opportunities like no other material and is used across the world in many market sectors.

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