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Ardagh Group S.A. – First Quarter 2017 Earnings Release

Ardagh Group S.A. (NYSE: ARD) today announced its financial results for the quarter ended March 31, 2017.

Highlights

  • Revenue increased by 51% to €1,844 million with pro forma growth of 2%;
  • Adjusted EBITDA increased by 38% to €299 million, with pro forma growth of 2%;
  • Group Adjusted EBITDA margin of 16.2%, unchanged on a pro forma basis;
  • Loss per share €0.28 (2016: profit per share €0.07);
  • Adjusted earnings per share of €0.29, up 53% on the prior year;
  • Operating cash flow of €6 million (2016: €29 million), reflecting improvements in the underlying business, offset by increased seasonality following the Beverage Can acquisition;
  • Initial public offering (“IPO”) on the New York Stock Exchange (“NYSE”) completed in March 2017;
  • €3.0 billion refinancing activity in the quarter yielding further interest savings;
  • $300 million of cash resources used to repay debt
  • The board of directors has declared a quarterly cash dividend of $0.14 per common share, payable on May 31,2017 to shareholders of record on May 17, 2017.

Paul Coulson, Chairman, stated, “The Group has made a positive start to the year, with continued growth in revenue and Adjusted EBITDA, complemented by further progress integrating the Beverage Can acquisition. The successful completion of the Group’s IPO, combined with timely refinancing activity, has further enhanced our capital structure and we ended the quarter with net debt of approximately five times our unchanged full year Adjusted EBITDA expectations. We remain focused on continued progress over the course of 2017.”



1 Change pro forma reflects the Beverage Can business acquisition completed June 30, 2016.
2 Adjusted EBITDA is defined on page 4 of this release.
3 2017 reflects LTM Adjusted EBITDA on a pro forma basis.
4 Payable on May 31, 2017 to shareholders of record on May 17,2017.

Click here to see the full Ardagh Group S.A. Earnings Release Q1 2017

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