Our expectation for industry growth in 2023 supported by positive secular tailwinds is for a low single-digit percentage growth in the Americas and a low to mid-single-digit percentage growth in Europe. Yes. As I say, I think they have reached the limit of sales growth without driving some volume. As that moves to the U.S., are you going to get that business, do you need to make any investments for it? Any forward-looking information presented herein is made only as of the date of this release, and we do not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise. Is that part of your European outlook as well? For interested investors who wish to participate, the conference call and replay details will be available on the Investors section of the Ardagh Group website at https://www.ardaghgroup.com/corporate/investors. That will conclude today's conference call. 2023-04-27 | NYSE:AMBP | Press Release | Ardagh Metal Packaging S.A. And then also similarly in Europe and Brazil, how did you characterize the supply and demand? Thanks. I will now turn the call over to Oliver Graham. We are delighted to partner with Gores Holdings V to create a NYSE-listed pure-play beverage can business of scale with impeccable ESG credentials, and we intend to remain a committed, long-term majority shareholder of AMP as it continues its growth journey., Over the past five years, our metal packaging business has grown its position as one of the worlds leading beverage can producers through our agility and foresight in tapping into emerging consumer and market trends, said Oliver Graham, CEO of AMP. You have accelerated improvement in PPI recapture or mechanisms yet were down year-on-year in EBITDA 2Q versus 2Q last year. In light of our resilient start to the year, we are reaffirming our full year guidance. And is that driven primarily by kind of volume recovery or maybe cost? Before making any voting or other investment decision, investors and security holders of Gores Holdings V are urged to read the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed Business Combination as they become available because they will contain important information about Gores Holdings V, AMP and the proposed Business Combination. And just a question on North America. The minimum refund value established for each type of eligible beverage container is 5 cents for each container under . 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. Is that what you're seeing as well or maybe just comment overall on the outlook there. See jobs Follow View all 6,018 employees Overview Jobs Life About us We are. Please go ahead. The first one, so look, when we've looked at packaging markets over the years, over time, within one-way packaging, cans almost always went out over one-way glass because you have distribution efficiencies. Sure. So let's go region by region. to the food & specialty and personal care markets. Our next question comes from Kyle White from Deutsche Bank. This release contains "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. My last one, I'll turn it over. And as I said in my other remarks, I think there's a few other categories very ripe for the can, including the sports drink as well. Metal offers versatility, unlimiteddesign and brand building opportunities like no other material and is used across the world in many market sectors. There's been a lot of inflation there over the last couple of years. Ardagh Metal Packaging is a supplier of sustainable and infinitely recyclable beverage cans globally and operates 24 production facilities in nine countries. Contact Customer Service at: +1-800-323-3401, Ardagh Metal Packaging S.A., 56, rue Charles Martel, L-2134 Luxembourg, LuxembourgR.C.S. Global demand remains restrained by retail price inflation, but we are encouraged by signs of a return of promotional activity, and the easing of customer inflationary pressures. A subsidiary of . I don't know, David, if you want to add anything to that. No. And therefore, that growth we see having zero impact on our growth because our growth will be much more significant given the capacity position, given the consumer adoption of the can and given the significant shift we expect out of two-way. We will achieve our vision by delivering customer innovation, providing an inspirational environment for our people and creating sustainable value for our business through growth and development. Welcome to the Ardagh Metal Packaging S.A. First Quarter 2023 Results Call. Ardagh Metal Packaging Became A Dividend Stock Overnight (NYSE:AMBP At this time, I would like to turn the conference over to Mr. Stephen Lyons, Ardagh Metal Packaging Investor Relations. Luxembourg-based metal packaging supplier Ardagh Metal Packaging (Ardagh) has reported a solid performance in the first quarter (Q1), with global beverage can shipments growing by 3% during the period. 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. Please. We are committed to conducting our activities with the highest standards of integrity and business practice in dealing with all of our stakeholders. So look, I think on this promotional question, there's a couple of fundamentals that we should touch on, and then we should talk about the timing of it returning. So those are a set of one-offs that will unwind during this year. Yes. None of Gores Holdings V, Ardagh or AMP gives any assurance that either Gores Holdings V or AMP will achieve its expectations. Ardagh Group Stock: 50% Upside On Beverage Can Sale (NYSE:ARD) As part of our strategy, we have mapped out ambitious commitments and targets for the next decade. Okay. Or are we operating at a high level? And that linked to their overall market weakness. Luxembourg B160804, Modern Slavery Statement Ardagh Metal Packaging announces results for the first quarter We build upon the inherent environmental advantages of metal beverage cans by clearly supporting our customers sustainability platforms. So yes, no particular trend, I think in there. We remain in close dialogue with the customer who continues to trade through the process. Wed like to share more about how we work and what drives our day-to-day business. Prior business combinations for special purpose acquisition companies sponsored by affiliates of The Gores Group include: Hostess (Gores Holdings, Inc.), Verra Mobility (Gores Holdings II, Inc.), PAE (Gores Holdings III, Inc.), Luminar (Gores Metropoulos, Inc.), United Wholesale Mortgage (Gores Holdings IV, Inc.), and the pending Matterport transaction (Gores Holdings VI, Inc.). We will take our next question from [Alex Simon from Tieco] [ph]. And I guess you'll talk about the regional trends maybe in some of the other questions. I'll take the first and hand over to David on the working capital. Today's conference is being recorded. Pat Walsh Is this happening to you frequently? A subsidiary of sustainable packaging business Ardagh Group, AMP is a leading industry player across Europe, North America and Brazil with innovative production capabilities. You mentioned increasing promotional activity in non-alcoholic. Please go ahead. Thanks, Ellen, and thank you to everyone on the call. Luxembourg B160804, Modern Slavery Statement Our expectation of the current year is unchanged, which includes growth investment of just under $400 million with a cash flow element under $300 million. We sell different types of products and services to both investment professionals and individual investors. 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. These forward-looking statements generally are identified by the words believe, project, expect, anticipate, estimate, intend, strategy, future, forecast, opportunity, plan, may, should, will, would, will be, will continue, will likely result, and similar expressions (including the negative versions of such words or expressions). We create packaging for numerous market sectors including, among others, beverage cans, food, beers, wine and spirits. So I don't think you've got a single picture for the market. Manufacturing Engineer Intern - Career Center | University of Southern Look, I think in one-returnable transition to one-way transitions to one-way can [indiscernible] glass because the customers want to use the shelf and have some premium positioning around glass and then some mass volume driving around cans. Our Code of Conduct is a guide for conducting our business in an honest and professional manner. 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. Earnings Webcast and Conference Call Details. On a constant currency basis, adjusted EBITDA decreased by 8%, mainly due to negative volume/mix effects and higher operating costs. Information about Gores Holdings Vs directors and executive officers and their ownership of Gores Holdings Vs securities is set forth in Gores Holdings Vs filings with the SEC, and information about Ardaghs and AMPs directors and executive officers is or will be set forth in their respective filings with the SEC. United States of America (USA) Packaging Market Size, Analysing Key Pack Material (Pack Type, Clo Henkel and UPM Specialty Papers create heat-sealable packaging, Constellation pledges improvements in circularity of alcohol packaging. Oliver Graham, CEO of Ardagh Metal Beverage, will be CEO of AMP. So look, overall, it is soft. Again, I guess the one thing we need to be mindful of is, obviously, to the extent you guys have hedged energy for this year, that may not necessarily be the case on a go-forward basis. The company will invest at least $195 million to expand its current beverage can metal manufacturing facility in Winston-Salem. AMP is a leader in sustainable, value-added, infinitely recyclable metal beverage can packaging solutions. And so our growth has definitely come when we're talking about normal periods, 1%, 2%, 3%, before we had the big sustainability tailwind, a proportion of that was glass substitution, but often also two-way. Perfect. By clicking Accept all cookies, you agree to the storing of cookies on your device and to the associated processing of personal data to enhance site navigation, analyse site usage, and assist in our marketing and performance efforts. Total beverage can shipments in the quarter were 3% higher than the prior year, with 5% growth in North America and 2% growth in Europe, offsetting a 1% decline in Brazil. Luxembourg-based metal packaging supplier Ardagh Metal Packaging (Ardagh) has reported a solid performance in the first quarter (Q1), with global beverage can shipments growing by 3% during the period. Yes. So if you agree with that premise, and the numbers are the numbers. North America grew by 5%, and more than offset marginally softer shipments in Brazil. A partner of choice for beverage companies, AMP is known for its outstanding quality and customer service and is the only pure play metal beverage can producer of scale in the market today. About Ardagh Metal Packaging. And we are committed to our quarterly $0.10 dividend. And we also just have some one-off effects in our results. The European energy market continues to improve its resilience supported by public policy actions. So the European business takes a step up from here. That's very helpful. Commitment alongside our global supply chain partners to the Aluminium Forward 2030 coalition and the endorsement of the Mission Possible Partnership's net zero strategy, supporting actions to achieve the industry's net zero carbon footprint ambition. So if the beverage companies do increase their promotional activity, does that result in maybe some give back of price or especially with considering the deflation. Our metal cans are available in a range of sizes from 8 oz. And then the high-level question, yourself and some of your peers are taking actions to kind of curtail volumes and balance the market out, but there are still some new entrants who are talking about adding some pretty meaningful capacity. Together with the cash held in Gores Holdings Vs trust account, additional investors have committed to participate in the proposed business combination by purchasing 60 million shares of AMP for an aggregate purchase price of $600 million in a private placement (the PIPE) at $10.00 per share. So there's also some one-off effects in Europe. 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. We delivered a solid performance in the first quarter and met our market guidance. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. Second quarter Adjusted EBITDA expected to be of the order of $170 million (Q2 2022: $181 million reported; $180 million at constant currency). In the quarter, AMP incurred additional growth CapEx of $90 million and maintenance CapEx of $36 million. Entering text into the input field will update the search result below. In addition, new risk factors and uncertainties emerge from time to time, and it is not possible for us to predict all risk factors and uncertainties, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual events to differ materially from those contained in any forward-looking statements.

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