We support our customers' drive to differentiate their products, providing innovative shaping, decoration and convenience features. These investments support the impact of high-quality teachers in science, technology, engineering and mathematics (STEM) disciplines to inspire students STEM understanding and interest. Ardagh Group S.A. ("Ardagh") (NYSE: ARD), a global supplier of infinitely-recyclable metal beverage and glass packaging for the world's leading brands Ardagh Metal Packaging's NOMOQ buy is a win for aluminium cans Ardagh Metal Beverage USA Inc. Attorney/Law Firm Details Plaintiff Attorneys Mehrdad Bokhour Attorney at Bokhour Law Group, P.C. About Ardagh Metal Packaging Ardagh Metal Packaging (AMP) is a leading global supplier of infinitely recyclable, sustainable, metal beverage cans and ends to brand owners. View original content to download multimedia:https://www.prnewswire.com/news-releases/ardagh-metal-packaging-sa--first-quarter-2023-results-301809466.html. The combined company is expected to have an enterprise value of approximately $8.5 billion at closing, representing 10.5x AMPs projected 2022 Adjusted EBITDA. We will take our first question from Anthony Pettinari from Citi. And that's a fundamental shift, and we expect that to continue once the normalization occurs around the very high inflation that's occurred on the can in the last 6, 12 months in Brazil, which we talked about and others have talked about, that's about the LME and where our customers have to hedge LME, and it's also about the fact that with dollar price elements of the can, which in a devaluing currency environment obviously increases inflation. Whatever your customers told you specifically in terms of why you think promotional activity is going to pick up, particularly in non-alc, over the rest of the year? We recorded revenue of $1.1 billion, which represented a growth of 2% on a constant currency basis, predominantly reflecting higher volumes. To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research. Our next question comes from Kyle White from Deutsche Bank. Would you attribute that to the new entrants or just kind of the overall supply-demand balance in the North American market right now? Revenue in the Americas in the first quarter . We will continue to focus on working capital efficiencies, and our guidance for a full year working capital benefit of approximately $100 million remains unchanged. Most recently worked as the Quality Manager for Ardagh Metal Beverage, in Chicago, IL. About Ardagh Metal Packaging Ardagh Metal Packaging (AMP) is a leading global supplier of infinitely recyclable, sustainable, metal beverage cans and ends to brand owners. Once cans arrive at stores, stacking efficiency provides easy and effective retail display. So the U.S., again, we've gone through a period of capacity build-out on an oversold market, and there's been some rationalization. Just wanted to maybe expand a little bit more on the customer dynamics. We have completed our planned capacity additions in North America with the third line in Huron, Ohio now ramping up along with the other 2 lines added in the final quarter of last year. And so that's a tough comparator for us. And then I think what drove the shift out of returnable and has driven it in all markets as GDP per capita rises is that as consumers get richer, they don't like returnable and retailers and mass retailers, in particular, that grow with economic development also particularly don't like returnable. But as I say, all of those activities were completed last year. And as you put those numbers together with some EBITDA growth, that's why you can see we're very confident in the sustainability of the dividend. Entering text into the input field will update the search result below. So regarding your CapEx guidance for '23, your guide is $300 million, and your cash flow generation alleviation depends a lot on CapEx cuts. So they're clearly not in 2024, and we'll guide each year as we go. Our resilient start to the year allows us to reaffirm our full year guidance. So just anything that you can speak to in terms of one substrate winning or not in the beer category down there and then what we should be looking for in the outside world that could kind of reaccelerate that transition to one way versus returnable. Directions Advertisement. I guess maybe if it's more helpful to talk by categories, that's fine and you could do that. We sell different types of products and services to both investment professionals and individual investors. We remain focused on continuous improvement in all aspects of our business to deliver long-term, sustainable success for our stakeholders. So what we see is a lot of variation between customers depending on their pricing strategies. But taking it in a different perspective, right, the market is putting a yield on the dividend of around 11%, which suggests investors put a high-risk factor on that dividend. For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of MiFID II; or (ii) a customer within the meaning of Directive (EU) 2016/97, where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II; or (iii) not a qualified investor as defined in Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 (this regulation together with any implementing measures in any member state, the Prospectus Regulation). Contents are protected from air and light, with their distinct flavors preserved, Cans offer 360-degree branding opportunities. From Wells Fargo Securities, we will take the next question from Gabe Hajde. Ardagh Group is a global supplier of sustainable, infinitely recyclable, metal and glass packaging for brand owners around the world. It appears that a couple of years ago when the market was really tight, pricing was achievable. This document does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Ardagh Metal Packaging S.A. (AMBP) Q1 2023 Earnings Conference Call April 27, 2023 9:00 AM ET. So we're still talking about pricing being in healthy margin territory. Why have a dividend that high and at that level relative to your equity and relative to your cash flow now? The market we put, probably a low single digit for the quarter, mainly on the back of the strength, there's still growth in some of the newer players in the market. So I think that's where there is some softness. I was going to hit it later. You can get your beverage container recycling refunds on a per-container basis instead of by weight. We have also added an earnings presentation on to our investor website for your reference. The projected financial information contained in this press release constitutes forward-looking information. With that being said, within Brazil, what are your customers telling you in terms of their intention two years, three years from now in terms of can in one way versus glass in one way? So that's why we still think it's a low single to mid-market this year. [2] As of 2012, the company operated 89 facilities in 22 countries, employed approximately 23,500 people, and had approximately 7.7 billion in revenue. Following closing of the business combination, Ardagh currently intends to offer holders of its Class A common shares the opportunity to exchange their Class A common shares for consideration which may include a portion of Ardaghs holding in AMP. This release may contain certain financial measures such as Adjusted EBITDA, Adjusted operating cash flow, Adjusted free cash flow, net debt and ratios relating thereto that are not calculated in accordance with IFRS. The consistent pursuit of market-leading And therefore, you'll see in our results and our peers' results probably some different results linked to customer mix and which customers you're in by region. Yes. Glass packaging protects its content and enhances a brands appeal. The shares of AMP (AMPSA Shares) to be issued by AMP in the Business Combination are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the EEA or in the UK. We provide a platform for our authors to report on investments fairly, accurately, and from the investors point of view. Ardagh Metal Packaging Invests in NOMOQ - Yahoo Finance Ardagh is at the forefront of aluminum beverage packaging, with 11 production facilities throughout the Americas. We haven't guided on it, but I think that some of the market numbers we've seen are in the right order. Look, I think we've signaled along that the dividend is demonstrating the cash-generative nature of the business. Look, it's going to go very meaningfully lower. As previously indicated, our revised growth investment plans are well advanced, and cash outflows comprised the finishing of projects already underway. Okay. And then lastly, just I guess on the curtailments. I would like to turn the call back over to Oliver for any additional or closing remarks. So if you put all that together, would you characterize, if you can just help us understand the supply-demand balance in each of these markets. Metal packaging is universally recognised for its protective qualities, versatility and environmental credentials. By law, you can bring up to 50 aluminum, 50 glass, 50 plastic, and 50 bi-metal California Redemption Value (CRV) containers and request to be paid by count. I think that's right. I'll give an overview, and then I'll let David cover anything further. If you are a customer of Ardagh Metal Beverage and do not yet have a user ID and password for this portal, please register here: Register; Contact. There is some acceleration in volume received in our guidance in the second half, and we can talk more about the markets and why we've got that assumed. So soft drink is definitely a bit stronger than beer. So energy costs have risen very significantly as a proportion of household income. Making new glass bottles and jars from recycled glass reduces the amount of energy needed in the production process and lowers emissions into the atmosphere. We have local experts who understand your customers needs and who can speak your language. Before moving to your questions, we will first provide some introductory remarks around AMP's performance and outlook. And right now, you need to be operating in economy or price competitive parts of the market or you need to be discounting into those parts of the market because the consumer is under pressure. The hard seltzer category accounted for 8% of North America shipments in the quarter, with the segment remaining under pressure. Under the Social pillar of our sustainability strategy, Ardagh committed to invest approximately $50 million from 2021-2032 in the local communities in which our U.S. facilities are located. The contribution from higher volumes and stronger input cost recovery was offset by the under absorption of higher operating costs and the expected impact relating to the timing of recognition of inflation recovery in EBITDA. There have been some times, we have off trends, but generally, that's been the trend. So just to clarify that whether it's kind of No, I certainly would say that. So we'd have to backfill it that way. But that said, I think we're sitting nicely now with a period of growth in the industry about which we're very confident and with no need to do further investment and with a good set of new and efficient assets. At March 31, 2023, the Group's net debt and available liquidity was as follows: Senior Secured Green and Senior Green Notes, Cash, cash equivalents and restricted cash, Derivative financial instruments used to hedge foreign currency and interest rate risk, Reconciliation of (loss)/profit for the period to Adjusted profit, (Loss)/profit for the period as presented in the income statement, (Loss)/profit for the period used in calculating earnings per share, Weighted average number of ordinary shares, Reconciliation of (loss)/profit for the period to Adjusted EBITDA, Reconciliation of Adjusted EBITDA to Adjusted operating cash flow and Adjusted free cash flow, Adjusted free cash flow - pre Growth Investment capital expenditure, Adjusted free cash flow - post Growth Investment capital expenditure.

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