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February 25, 2022

Ardagh Metal Packaging reports 22% growth in Q4 2021 revenue

The company's revenues for the full year grew by 18% to $4.05bn.

Ireland-based beverage can manufacturer Ardagh Metal Packaging (AMP) has reported revenues of $1.08bn in the fourth quarter (Q4) of the fiscal year 2021 (FY21), up by 22% from a year earlier.

The company said that the growth in revenue was caused by volume/mix growth and the enactment of higher input costs for customers.

During the three months to 31 December, AMP’s revenues grew by 14% to $455m in Europe while in the Americas, the company saw a 28% revenue growth to $632m.

The company’s adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) for Q4 rose by 18% to $165m from the prior-year quarter.

Its earnings per share (EPS) for the quarter was $0.03 and its adjusted EPS amounted to $0.11.

For the full year, AMP’s revenues increased to $4.05bn, up by 18% from $3.45bn in 2020.

The company’s adjusted EBITDA for the full year was $662m, compared with $545m in FY20.

Its revenue grew by 20% to $2.17bn in the Americas, while in Europe, AMP saw its revenue increase 15% to $1.83bn.

Ardagh Metal Packaging CEO Oliver Graham said: “AMP delivered a year of strong earnings growth, with adjusted EBITDA increasing by 21% and in excess of plan.

“This performance demonstrates the resilience of the business in managing unprecedented inflationary pressures and supply chain disruption.

“The team performed an exceptional job supporting customers and partnering on their growth ambitions.

“The year finished strongly with global shipments rising by 6% in the quarter. Demand remains strong, backed by sustainability and innovation tailwinds.

“Confidence in the strength and resilience of AMP’s end markets is underpinned by further expanding the customer contracted growth investment programme.”

For FY22, AMP has forecast an adjusted EBITDA of $775m. The firm expects this to be mostly in line with its constant currency outturn of $144m for Q1, flat compared with a year earlier.

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