Ardagh Group S.A. - Second Quarter 2026 Results

Ardagh Group S.A. today announced results for the second quarter ended June 30, 2026.

LUXEMBOURG, July 23, 2026 /PRNewswire/ --

Second Quarter 2026 highlights:

• Second Quarter 2026 Adjusted EBITDA of $410 million, +6% annual growth
• Last Twelve Months (LTM) Adjusted EBITDA of $1,468 million, +12% annual growth
• Cash and available liquidity of $1,441 million as at June 30, 2026

Mark Porto, Executive Chairman of Ardagh Group, said:
"Ardagh Group continued its encouraging start to the year, with 6% Adjusted EBITDA growth in the second quarter versus the prior year quarter. Performance in Ardagh Metal Packaging was strongly ahead of expectations, and despite a challenging macro-economic environment, performance in Ardagh Glass Packaging was broadly in line with our expectations. We are encouraged by the improved volume performance for Ardagh Glass Packaging, which achieved 3% global volume growth in the quarter, although the demand outlook remains uncertain, with a divergence in the pace of recovery across regions and by product categories.

Since our last update, the full year outlook for AMP has improved, however we face additional pressure in the full year outlook for AGP, including increased input cost inflation arising from the Middle East conflict. In response to the challenging environment for glass packaging, we recently launched our "Clearly Ardagh" turnaround strategy, which is a major strategic initiative to transform AGP. It is focused on better aligning our capacity to market demand, driving efficiency in our operations and across our business, strengthening our commercial partnerships and reinforcing a high-performance culture throughout the organisation. The actions taken as part of the "Clearly Ardagh" initiative will ensure that AGP is more resilient and better placed to reinforce its position as a key player in the dynamic global glass packaging industry."

Ardagh Group Adjusted EBITDA of $410 million for the quarter represented a 6% increase versus the prior year (+4% at constant currency). This was driven by growth of 14% (+13% at constant currency) in Ardagh Metal Packaging (AMP) to $240 million, partly offset by a decline of 4% (-8% at constant currency) in Ardagh Glass Packaging (AGP) to $170 million.

AMP global shipments decreased by 1% in the quarter versus the prior year quarter, and cycled strong prior year growth (+5%), due to a 6% decrease in the Americas – reflecting a 5% decline in North America and a 15% decline in Brazil – largely offset by a 5% increase in Europe.

AGP global shipments grew by 3% in the quarter versus the prior year due to a 5% increase in Europe & Africa shipments – reflecting growth of 3% in Europe and an increase of 16% in Africa - and a 2% decline in North America.

AGP confirms that following an engagement with employee representatives, the Germersheim facility in Germany will close during the third quarter of 2026. This decision reflects ongoing efforts to assess capacity requirements in response to challenging demand conditions, consistent with the first pillar "Strategic Capacity & Network Evolution" of the Clearly Ardagh glass turnaround strategy.

Ardagh Group ended the quarter in a strong liquidity position, with consolidated cash and available liquidity of $1,441 million as at June 30, 2026, of which $794 million is held in ARGID Group (ARGID) – which refers to Ardagh Group S.A. and certain of its subsidiaries – includes the glass packaging operations but excludes AMP.

Ardagh Group net debt to Adjusted EBITDA reduced to 6.1x as at June 30, 2026, down from 8.0x at the end of the prior year quarter, which includes the impact of the recapitalization. ARGID net debt to Adjusted EBITDA was 5.5x as at June 30, 2026.

On June 22, 2026, Ardagh Group announced an Excess Proceeds Offer (the "Offers"), to apply up to $91,872,296 arising from the redemption of the AMP preferred shares in December 2025 towards the purchase of first lien senior secured notes and second lien senior secured notes.

On July 22, 2026, the Board of Directors approved the appointment of Todd Brents as Chief Financial Officer. Todd Brents had served as Interim Chief Financial Officer since January 1, 2026 and will continue to lead the Group's finance function.

A copy of the second quarter 2026 interim report be found at: https://www.ardaghgroup.com/investors/financial-results

About Ardagh Group
Ardagh Holdings S.A. is the ultimate parent company of Ardagh Group, which is a global supplier of infinitely recyclable metal beverage and glass container packaging for brand owners around the world. Ardagh Group operates 58 metal and glass production facilities in 16 countries, employing approximately 19,000 people with sales of approximately $9.6 billion.

For more information, visit https://www.ardaghgroup.com/investors

Earnings Webcast and Conference Call Details
Ardagh Group S.A. will hold its second quarter 2026 earnings webcast and conference call for investors at 11.00 a.m. EDT (4.00 p.m. BST) on Thursday July 23, 2026. Please use the following webcast link to register for this call:

Webcast registration and access:
https://event.webcasts.com/viewer/event.jsp?ei=1765974&tp_key=7970423f53

Conference call dial in:
United States/Canada: +1 646-769-9200
International: +44 (0)20 7769 6464
Participant pin code: 9506275

Disclaimer
This release presents Adjusted EBITDA and net debt to Adjusted EBITDA, which are not defined under IFRS Accounting Standards. Adjusted EBITDA consists of profit/(loss) for the period before income tax charge/(credit), net finance expense, depreciation and amortization, exceptional operating items and share of profit or loss in equity accounted joint venture. We use Adjusted EBITDA to evaluate and assess our segment performance. Adjusted EBITDA is presented because we believe that it is frequently used by securities analysts, investors and other interested parties in evaluating companies in the packaging industry. However, other companies may calculate Adjusted EBITDA in a manner different from ours. Adjusted EBITDA and net debt to Adjusted EBITDA are not measures of financial performance under IFRS Accounting Standards and should not be considered an alternative to profit/(loss) as indicators of operating performance or any other measures of performance derived in accordance with IFRS Accounting Standards.

This release may include "forward-looking statements," including certain statements, estimates, targets and projections provided by Ardagh Group S.A. with respect to its anticipated future performance, financial condition, plans, objectives and business outlook. In some cases, these forward-looking statements can be identified by the use of forward-looking terminology, including the words "believes," "could," "estimates," "anticipates," "aims," "expects," "intends," "may," "will," "plans," "continue," "potential," "predict," "project," "target," "seek," "should," or "would," or, in each case, their negative or comparable terminology. These forward-looking statements include all matters that are not historical facts.

By their nature, forward-looking statements involve known and unknown risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Such forward-looking statements are not guarantees of future performance. You should not place undue reliance on these statements. They reflect significant assumptions and subjective judgments by management, which may or may not prove to be correct, and there can be no assurance that any estimates, targets or projections are attainable or will be realized. Neither Ardagh Group S.A., nor any of its affiliates or directors, partners, employees or advisers, accepts any responsibility for the accuracy or completeness of such statements or assumes any obligation to update or revise them to reflect changes in expectations or events, conditions or circumstances on which such statements are based.

Contacts:
Investors:
Email: investors@ardaghgroup.com

Media:
Pat Walsh, Murray Consultants
Tel.: +353 1 498 0300 / +353 87 2269345
Email: pwalsh@murraygroup.ie

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SOURCE Ardagh Group S.A.