Ardagh Group
Menu

Ardagh Group S.A. – First Quarter 2021 Results

Ardagh Group S.A. (NYSE: ARD) today announced its results for the first quarter ended March 31, 2021.

Highlights

Ardagh Group Q1 2021 Results

Paul Coulson, Chairman and Chief Executive, said “We have made an excellent start to 2021, with strong earnings growth in Metal Packaging and a robust performance in Glass Packaging Europe. Our $2.1 billion investment program is fully on track and we are well-placed to deliver further growth over the course of the year.”

  • Revenue increased by 9% to $1,774 million, reflecting increased shipments in both Metal Packaging and Glass Packaging, the pass through of higher input costs and favorable currency translation effects.
  • Metal Packaging shipments increased by 8% in the quarter. Speciality can volumes increased by 16% and represented c.45% of total shipments.
  • Glass Packaging shipments increased by 2%, led by growth in North America. Shipments in Europe were in line with the prior year, despite continuing lockdowns in much of Europe during the quarter.
  • Adjusted EBITDA of $300 million increased by 10% at actual exchange rates and by 5% on a constant currency basis.
  • Metal Packaging Adjusted EBITDA increased by 23%, with growth of 34% and 12% in the Americas and Europe respectively. Glass Packaging Adjusted EBITDA decreased by 8%, due to a lower outturn in Glass Packaging North America, which was impacted by severe weather and higher operating costs. Glass Packaging Europe Adjusted EBITDA increased by 9% and was in line with the prior year at constant currency rates.
  • Metal Packaging to list separately on NYSE as Ardagh Metal Packaging (“AMP”), a pure-play beverage can producer with leading market positions in the Americas and Europe. On completion of the transaction with Gores Holdings V Inc., expected in the second quarter of 2021, Ardagh Group will hold a stake of ~80% in AMP and will receive up to $3.4 billion in cash.
  • Business Growth Investment program progressing on plan, with two new sleek lines commissioned and ramping up in Olive Branch, Mississippi. First quarter growth investment spending of $162 million is on track, with multiple other projects under way.
  • Cash and available liquidity of $1.6 billion at March 2021.
  • Sustainability agenda further progressed during the quarter, with advances in implementing our SBTI based emissions reduction and social sustainability strategies. The Furnace for the Future project is advancing and, in AMP, a $2.8 billion Green Bond was issued in March.
  • Re-iterating 2021 Guidance: Adjusted EBITDA of $1.28 - $1.30 billion in 2021 with end of year reported net leverage of around 5x LTM Adjusted EBITDA. Second quarter Adjusted EBITDA is expected to be $325 - $330 million.



Click here to see the full Ardagh Group S.A. Earnings Release Q1 2021

Ardagh and AMP Q2 2021 Results Notice

Ardagh Group and Ardagh Metal Packaging Q2 2021 Results Notification

Ardagh Metal Packaging will host a Second Quarter 2021 earnings call on Tuesday, August 3, 2021. Ardagh Group S.A. will publish its Second Quarter 2021 results on Tuesday, August 3, 2021....

14 Jul 2021

Best. Summer. Ever. with 2Wine cans

Best. Summer. Ever. with 2Wine cans

Summer is finally here and Amsterdam-based 2Wine are out to make ‘to wine’ the hottest verb of the season – with Ardagh Metal Packaging’s specialist Wine Can taking centre stage. Com...

30 Jun 2021

Ardagh makes reusable jars for NaturRein

Ardagh makes reusable jars for NaturRein

Fruit processing company Zentis has designed a new range of jars for its NaturRein brand of jams and fruit spreads, in response to consumer demand for sustainable and reusable glass packagin...

29 Jun 2021

Seriously special: new Ambar DOBLE IPA

Seriously special: new Ambar DOBLE IPA

Discerning beer drinkers in Spain will be excited at the launch of Ambar DOBLE IPA, a brand-new canned beer from independent brewery Cervezas Ambar, and a must-try for serious fans of heavy ...

28 Jun 2021

Our website uses cookies to analyse traffic to this site. By continuing to use our site without changing your browser settings to block or remove cookies, you are agreeing to the terms of our Privacy Statement.