Ardagh Group S.A. – Third Quarter 2018 Results
Ardagh Group S.A. (NYSE: ARD) today announced its financial results for the third quarter ended September 30, 2018.
Paul Coulson, Chairman and Chief Executive, said “In a period marked by high levels of cost inflation, third quarter earnings reflected strong growth in Metal Packaging Americas, with all parts of that business performing very well. In Europe, we recorded good growth in glass packaging during the quarter, while our metal packaging business was adversely impacted by a weak food harvest. In Glass Packaging North America, our footprint adjustments and other initiatives to rebuild profitability continued against a challenging market backdrop. We remain focused on cash generation and de-leveraging over the final quarter and into 2019.”
- Revenue of $2,390 million increased by 3%;
- Adjusted EBITDA of $400 million, declined by 9%;
- Beverage can integration completed, with global volume/mix growth of 4% in the quarter;
- Continued growth in glass container volume/mix in Europe;
- Earnings per share of $0.03 (2017: $0.26);
- Adjusted earnings per share of $0.52 (2017: $0.57);
- Quarterly cash dividend of $0.14 per common share, payable on November 30, 2018;
- 2018 outlook: Full year Adjusted EBITDA of approximately $1,450 - $1,475 million, with Adjusted free cash flow of approximately $475 million3 and Adjusted earnings per share of $1.60 – $1.70.
1 For a reconciliation to the most comparable GAAP measures, see page 11.
2 Payable on November 30, 2018 to shareholders of record on November 16, 2018.
3 Before short payback capex projects.
25 October 2018