View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
July 29, 2022

Ardagh Metal Packaging reports 31% revenue growth in Q2 2022

The company said that its results in the quarter were driven by strong regional performance.

Irish packaging company Ardagh Metal Packaging (AMP), a subsidiary of Ardagh Group, has reported a 31% increase in revenue to $1.30bn in the second quarter (Q2) of the fiscal year 2022 (FY22) from a year earlier.

The company’s revenue grew by 38% on a constant currency basis, driven by higher input costs and strong volume/mix growth passed through to customers.

AMP’s adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for the three months to 30 June increased by 5% to $181m, compared with $173m in the same period of the prior year.

The company’s earnings per share (EPS) rose to $0.17 in Q2 2022 from $0.05 in the same period of FY21.

AMP’s Americas business saw its revenue rise by 46% to $770m against $527m in Q2 2021, while the business’ adjusted EBITDA for the quarter was $120m, up by 36% from $88m last year.

In Europe, the company’s revenue increased by 15% to $533m, while its adjusted EBITDA dropped by $24m to $61m.

AMP CEO Oliver Graham said: “We successfully delivered our Q2 guidance in the face of unprecedented inflationary and supply chain challenges and a headwind from FX.

“In the quarter, we continued to commercialise new capacity, largely in line with budget and with minimal delays.

“The ramp-up of our investments and an outperformance in Brazil contributed to strong shipments growth in the period.

“We are actively pursuing a recovery of our exceptional energy inflation costs and are focused on a disciplined build-out of further capacity, suitably rephased so as to align it with demand.”

AMP is a global supplier of infinitely recyclable, sustainable metal beverage cans. It recorded sales of $4.1bn in FY21.

With operations across Europe and the Americas, the company has 24 production facilities in nine countries and nearly 5,800 employees.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The packaging industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Packaging Gateway