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Ardagh Group S.A. - Fourth Quarter and Full Year 2017 Results

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

Highlights

Paul Coulson, Chairman and Chief Executive, said “In 2017, we delivered pro forma constant currency Adjusted EBITDA growth of 2%, helped by the successful beverage can integration and de-levered as a result of strong free cash generation. Fourth quarter results were in line with our expectations, with constant currency revenue up 1% and Adjusted EBITDA advancing in three of our four divisions. Profit improvement initiatives in Glass North America are under way and we remain focused on driving growth in Adjusted EBITDA and cash generation as we continue to de- lever”.

  • Full year Revenue and Adjusted EBITDA growth of 20% and 16% to €7,644 million and €1,340 million respectively, including a full year beverage can contribution;
  • Pro forma constant currency Revenue and Adjusted EBITDA growth of 1% and 2% respectively for the year;
  • Earnings per share €0.24 for 2017 (2016: loss per share €0.33);
  • Adjusted earnings per share growth of 44% to €1.63 for the full year;
  • Adjusted Free Cash Flow of €465 million, contributing to de-leveraging of 0.57x during 2017;
  • Over US$750 million of cash and IPO proceeds used to repay debt during 2017;
  • Enhanced capital structure, with available liquidity of €1.3 billion and no debt maturities before 2021;
  • Adoption of US dollar reporting from January 1, 2018;
  • 2018 outlook: Full year Adjusted EBITDA of approximately US$1.6 billion, with Adjusted Free Cash Flow in the region of US$550 – US$575 million and Adjusted earnings per share of US$1.90 – US$2.10. First quarter Adjusted EBITDA of approximately US$345 million.


1 For a reconciliation to the most comparable GAAP measures, see page 11.
2 2016 reflects Adjusted EBITDA on a pro forma basis, including twelve months Adjusted EBITDA for the Beverage Can Business.
3 Dividend declared on February 8, 2018. Payable on March 13, 2018 to shareholders of record on February 27, 2018.

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